Deutsche Bank Reiterates Buy, $12 PT on CreXus

Deutsche Bank maintains its Buy rating and $12 target price on CreXus CXS as the company announces an increased dividend. Deutsche Bank notes, "CreXus increased its dividend by five cents to $0.35 per share, which beat our estimate by a nickel. While we expect CreXus to post a strong quarter given the increased dividend, the strong quarter is likely a result of discount accretion related to the Barclay's portfolio. The dividend is payable on January 26 to stockholders of record as of December 29." CXS closed at $10.22 per share on Monday.