Dynex Capital Inc (NYSE:DX) shares are trading lower by 4.1% to $11.95 during Thursday's session after the company announced it has priced an underwritten public offering of 10.5 million shares of common stock, aiming to raise approximately $126 million before deductions for underwriting discounts, commissions and expenses.

Additionally, the company has given underwriters a 30-day option to purchase up to an extra 1.575 million shares. The offering, pending customary closing conditions, is expected to close on June 7. BTIG is serving as the sole book-running manager for the offering.

Will DX Stock Go Up?

When trying to assess whether or not Dynex will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $13.58 on Dynex Cap. The Street high target is currently at $14.5 and the Street low target is $12.25. Of all the analysts covering Dynex Cap, 3 have positive ratings, no one has neutral ratings and no one has negative ratings.

In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Dynex Cap have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Dynex Cap is 0.62% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Dynex Cap, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

DX has a 52-week high of $13.56 and a 52-week low of $9.57.