Deutsche Bank Reiterates Buy, $12 PT on CreXus
Deutsche Bank maintains its Buy rating and $12 target price on CreXus (NYSE: 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.
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