J.P. Morgan Initiates Coverage on Commercial Mortgage REITs at Overweight
According to J.P. Morgan, Commercial Mortgage REITs (NYSE: CXS) coverage is initiated with an Overweight rating.
J.P. Morgan said that it is initiating coverage on two REITS focused primarily on investments in commercial real estate debt (CRE mREITs): CreXus – CXS: Overweight and Apollo Commercial – ARI: Neutral. “Our relatively constructive view on CXS versus ARI is based upon our view that CXS will have greater liquidity for investment in 2012 and will deliver industry-leading returns over the next 12 to 24 months.”
Commercial Mortgage REITs closed yesterday at $9.81.
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