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Fly News Breaks for June 17, 2015
DX
Jun 17, 2015 | 08:15 EDT
BofA/Merrill downgraded Dynex Capital to Underperform from Neutral and lowered its price target to $7.00 from $8.00. The firm said the operating backdrop for mREITs remains challenging and is increasingly concerned higher rates, widening spreads, and increased volatility will pressure shares. BofA/Merrill expects a flatter yield curve to reduce earnings power long-term, ultimately leading to potential dividend cuts.
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