Keefe Bruyette analyst Bose George lowered the firm’s price target on Dynex Capital to $12.25 from $13.50 and keeps an Outperform rating on the shares after Dynex reported Q1 results and management noted that book value quarter-to-date is down an additional 7% to $12.26. The firm is maintaining forward estimates, but reducing its FY24 earnings available for distribution estimate to (47c) from (38c) to reflect a miss in Q1.
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