In trading on Tuesday, Dynex Capital Inc’s 6.90% Series C Fix/Float Cumulative Redeemable Preferred Stock (Symbol: DX.PRC) yielded over 9.5%, with shares trading as low as $25.59. This is notably higher than the average yield of 8.28% in the Real Estate preferred stock category. At the last close, DX.PRC was trading at a 4.00% premium to its liquidation preference, contrasting with the average discount of 16.39% in the same category.
On the same day, shares of Dynex Capital’s preferred stock were down approximately 1.4%, while the common shares (Symbol: DX) saw an increase of about 0.8%. The annualized dividend stands at $2.4317.
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