Why Dynex Capital (DX) Shares Are Moving
Portfolio Pulse from Henry Khederian
Dynex Capital Inc (NYSE:DX) shares are down 4.1% to $11.95 after announcing a public offering of 10.5 million shares to raise approximately $126 million. The offering is expected to close on June 7, with BTIG as the sole book-running manager. Analysts have a 12-month price target of $13.58 for DX.
June 06, 2024 | 5:19 pm
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Dynex Capital shares fell 4.1% to $11.95 after announcing a public offering of 10.5 million shares to raise $126 million. The offering is expected to close on June 7, with BTIG as the sole book-running manager. Analysts have a 12-month price target of $13.58.
The announcement of a public offering typically leads to a short-term decline in stock price due to dilution concerns. However, the long-term outlook remains positive with analysts' price targets suggesting potential upside.
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