Dynex Capital, Inc. Buyback
OLI recorded this information on 12/9/2016
Dynex Capital, Inc.
Dynex Capital, Inc. (NYSE:DX) (the "Company") announced today that its Board of Directors has authorized the repurchase of up to $40 million of its outstanding shares of common stock through December 31, 2018. The Company will only repurchase shares when the repurchase price per share is less than the Company's most recent estimate of the current net book value of a share of common stock.
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.
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Strong Buy (3.67 out of 4)