CreXus Investment (NYSE:CXS) announced that it has signed a definitive asset purchase agreement with Barclays Bank’s (NYSE:BCS) affiliate, Barclays Capital Real Estate, to purchase a portfolio of commercial real estate assets. The closing of the transaction is subject to the completion of certain conditions, including the successful completion of a common stock offering by CXS and obtaining certain consents. The acquisition, which is valued at approximately $586 million, is set to be completed during mid-April 2011. The portfolio, consisting of 30 commercial real estate assets, includes commercial mortgage loans, subordinate notes and mezzanine loans. The property types underlying these assets include hotels, offices, condominium, multi-family and retail properties. Shares of CXS are down 3.86% to $12.19; Shares of BCS are up 3.15% to $19.01.
The Real Estate Investment Network Ltd ranked Calgary as the top real estate investment market in the country trailed by Edmonton. REIN disclosed in its Top Alberta Investment Towns report that Alberta’s economy has gained top position after a few years of economic turmoil. The report recognizes towns and regions on the edge to perform better than other regions of the province over the next three to five years.
While trading at volume higher than average, Annaly Capital Management, Inc. (NYSE:NLY) fell -0.73% yesterday after unveiling its plan to acquire the shares of Crexus Investment Corp. it doesn’t own for $838.8 million. Its previous 52-week high was $17.75 and moved up 4.06% over the same period, trading at a volume of 18.59 million. Shares have dropped -5.04% over the trailing 6 months. The stock is currently trading -9.37% below its SMA 50 and -5.98% below its SMA 200.
Over the last 12 months, for Crexus Investment Corp (NYSE:CXS) a return on equity of 9.97 percent was realized due to the financial situation and earnings per share reached a value of $1.19. Last fiscal year, $1.28 has been paid in form of dividends to investors. The stock closed at $12.43, up 1.33 points or 11.98% from previous close and at a distance of +11.15% from 20-day simple moving average.
Chimera Investment Corporation (NYSE:CIM)’s price increased in the last trading session with a previous 52-week high of $3.16. The stock was trading on above-average volume. The stock traded at a volume of 37.95 million shares at a price gain of 8.63%. The share price is now down 20.43% for the past three months. Latest closing price was 5.70% above its 50-day moving average and 8.34% above its 200-day moving average.
Elsewhere in the financial sector,shares of American International Group, Inc. (NYSE:AIG) which uses AIG again as its brand for property & casualty insurance moved up 37.84% in this year and its price history showed most recently beta was at 1.81. Overall the last 12 months, the percentage change in the price was 38.32%, hitting the highest of $37.67 on Oct 18, 2012 while lowest level in that period was $19.96 on Nov 25, 2011.