PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, May 21, 7:39 AM
| This Slide: #486 of 581 |
Slide #486. Dynex Capital, Inc. — Preferred Stock Offering
Company:
Dynex Capital, Inc. (NYSE:DX)
Date announced:
4/11/2013
Price Per Share:
$25.00
Preferred Stock Offering Details:
Dynex Capital, Inc. announced that it intends to make a public offering of shares of an original issuance of Series B Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share (the "Series B Preferred Stock"). The Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series B Preferred Stock to cover any overallotments. The Company also intends to apply to list the Series B Preferred Stock on the New York Stock Exchange.
Dynex Capital is an internally managed mortgage real estate investment trust, which primarily invests in residential and commercial mortgage-backed securities (MBS). Co. finances its investments principally with borrowings under repurchase agreements. Co. is primarily invested in Agency MBS including residential MBS, commercial MBS (CMBS) and CMBS interest-only (IO) securities. Agency MBS have an implicit guaranty of principal payment by an agency of the U.S. government or a U.S. government-sponsored entity. Co. also has investments in non-Agency MBS, which consist mainly of CMBS IO. Non-Agency MBS are issued by non-governmental enterprises and do not have a guaranty of principal payment.
Preferreds: DX.PRA, DXPBP, DX.PRB
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 91st percentile
(ranked higher than approx. 91% of all stocks covered)
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