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Crexus Investment Corp. Message Board

  • deanmortensen deanmortensen Nov 12, 2012 2:47 PM Flag

    CXS book value per share is $11.93....

    ...and I believe the GAAP book value understates the long-term economic value of the huge portfolio of performing CRE mortgages Crexus acquired from Barclays over a year ago. Those assets have continued to perform well. In today's low-interest rate environment, a sustainable 10%+ dividend yield is hard to find, and suggests CXS is undervalued by the market. Annaly is making a lowball, opportunistic offer for Crexus, and the BOD of Crexus should reject it as inadequate.