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CreXus: A Mortgage REIT That's Raising Dividends

|Includes: CreXus Investment Corporation (CXS)

While most REITs investing in home mortgages insured by government agencies Fannie Mae and Freddie Mac have been cutting their dividends, CreXus Investment Corp (NYSE:CXS), a REIT that specializes in commercial mortgages has been going the other way.

CreXus just raised its December quarterly payout by 17%, hiking its yield to 13.7%. That's the fourth raise this year. CreXus upped its dividend by 20% in September, by 9% in June, and by 5% in March. Its $0.35 per share December payout is 59% above December 2010.

CreXus, a September 2009 IPO, is managed by a unit of Annaly Capital management (NYSE:NLY).