This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Crexus Investment Corp. Reports Results For The 2nd Quarter 2012

Stocks in this article: CXS

CreXus Investment Corp. (NYSE: CXS), today reported GAAP net income for the quarter ended June 30, 2012 of $14.4 million or $0.19 per average share, as compared to $22.1 million or $0.29 per average share for the quarter ended June 30, 2011 and $16.1 million or $0.21 per average share for the quarter ended March 31, 2012.

Common dividends declared for the quarters ended June 30, 2012, June 30, 2011 and March 31, 2012, were $0.27, $0.25 and $0.27 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 June 30, 2012, based on the June 30, 2012 closing price of $10.17, was 10.62%.

On a GAAP basis the Company provided a return on average equity of 6.24%, 10.03% and 6.97%, for the quarters ended June 30, 2012 and June 30, 2011, and March 31, 2012, respectively.

Kevin Riordan, Chief Executive Officer and President of CreXus, commented on the quarter’s results. “Our markets remain competitive, with a range of opportunities for new investments and portfolio improvement. In the second quarter CreXus closed $150 million of new subordinate debt investments; completed the sale of a $50 million senior ‘A’ note and sold two hotels realizing approximately $11 million and a pre-tax gain of $1.8 million. In the process, we increased our portfolio yield and extended our maturities. Our transaction pipeline is active, and I believe CreXus is well positioned to continue to execute on opportunities as they arise.”

The weighted average yield on interest earning debt assets was 11.27%, 4.72% and 11.11% at June 30, 2012, June 30, 2011 and March 31, 2012, respectively. The yield on the Company’s real estate portfolio, which includes real estate held for sale, as of the quarter ended June 30, 2012, and March 31, 2012 was 7.78% and 8.10%, respectively. The Company held no real estate properties at June 30, 2011.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs