According to J.P. Morgan, Commercial Mortgage REITs 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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