This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CreXus Investment Corp. Reports Results For The 1st Quarter 2012

CreXus Investment Corp. (NYSE: CXS), today reported GAAP net income for the quarter ended March 31, 2012 of $16.1 million or $0.21 per average share, as compared to $4.6 million or $0.23 per average share for the quarter ended March 31, 2011 and $41.8 million or $0.55 per average share for the quarter ended December 31, 2011.

Common dividends declared for the quarters ended March 31, 2012, March 31, 2011 and December 31, 2011, were $0.27, $0.23 and $0.35 per common share, respectively. The Company distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings. Taxable and GAAP earnings will typically differ due to items such as differences in premium amortization and discount accretion, non-taxable unrealized and realized gains and losses, credit loss recognition, and non-deductible general and administrative expenses. The annualized dividend yield on the Company’s common stock for the quarter ended March 31, 2012, based on the March 31, 2012 closing price of $10.34, was 10.44%.

On a GAAP basis the Company provided a return on average equity of 6.97%, 6.80% and 18.14%, for the quarters ended March 31, 2012 and 2011, and December 31, 2011, respectively.

Kevin Riordan, Chief Executive Officer and President of CreXus, commented on the quarter’s results. “The commercial real estate finance market continues to evolve, and CreXus remains well-positioned to capitalize. We have seen a rising level of transaction volumes and a competitive lending landscape, particularly as the conduit business picks up and life companies remain committed to the market. In our portfolio, we made over $115 million in new debt and equity investments during the quarter and are in the late stages of consummating further new investments. We look forward to continuing to deliver strong risk-adjusted returns to our shareholders.”

The weighted average yield on interest earning assets was 11.11%, 6.47% and 29.86% at March 31, 2012, March 31, 2011 and December 31, 2011, respectively.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs