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Dynex Capital, Inc. (NYSE:DX), a $1.61 billion market cap mortgage REIT currently trading at $12.77, announced Tuesday that it has entered into Amendment No. 7 to its existing distribution agreement with a group of sales agents, according to a statement made in a filing with the Securities and Exchange Commission. InvestingPro analysis reveals several key insights about the company’s financial position, with 7 additional ProTips available to subscribers.
Under the amended agreement, the number of shares of common stock available for sale has been increased by 61,939,730 shares, bringing the total to 161,292,973 shares. Of this amount, 75,000,000 shares remain available for issuance. The shares may be offered and sold through the sales agents in transactions deemed to be "at the market offerings" as defined by SEC regulations. Notably, Dynex Capital has maintained consistent dividend payments for 18 consecutive years, currently offering an attractive 16.1% dividend yield.
The distribution agreement, originally dated June 29, 2018, includes BTIG, LLC, Citizens JMP Securities, LLC, Janney Montgomery Scott LLC, JonesTrading Institutional Services LLC, J.P. Morgan Securities LLC, Keefe, Bruyette & Woods, Inc., RBC Capital Markets, LLC, UBS Securities LLC, and Wells Fargo (NYSE:WFC) Securities, LLC as sales agents.
Shares issued under the amended agreement will be offered pursuant to Dynex Capital’s registration statement on Form S-3 (File No. 333-289004). The company also filed a prospectus supplement dated Tuesday with the SEC in connection with the offer and sale of the shares.
According to the filing, the sales agents and their affiliates have provided, and may continue to provide, investment banking, brokerage, and other services to Dynex Capital in the ordinary course of business. The company has paid and expects to pay customary fees and commissions for these services.
The information in this article is based on a press release statement contained in the company’s SEC filing. According to InvestingPro’s comprehensive analysis, Dynex Capital maintains a FAIR financial health score and appears slightly undervalued based on its Fair Value assessment. For deeper insights, investors can access the detailed Pro Research Report, available for over 1,400 US stocks, including Dynex Capital.
In other recent news, Dynex Capital Inc . reported its second-quarter 2025 earnings, which fell significantly short of expectations. The company announced an earnings per share (EPS) of -$0.14, missing the anticipated $0.33, resulting in a surprise of -142.42%. Additionally, revenue came in at $23.13 million, which was below the forecasted $42.37 million, marking a shortfall of 45.41%. These results indicate a notable underperformance compared to analyst projections. The earnings miss highlights challenges the company is facing in meeting financial expectations. Investors and analysts will likely scrutinize these results to understand the underlying issues affecting Dynex Capital’s performance. As developments continue, market participants will keep a close eye on any strategic adjustments the company might make in response to these financial results.
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