Dynex Capital (NYSE:DX) Hits New 52-Week Low – Time to Sell?

Shares of Dynex Capital, Inc. (NYSE:DX) reached a new 52-week low on Wednesday . The company traded as low as $11.87 and last traded at $11.8450, with a volume of 1716529 shares trading hands. The stock had previously closed at $12.10.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BTIG Research set a $14.50 target price on shares of Dynex Capital in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research report on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Finally, JonesTrading restated a “buy” rating and set a $14.75 price objective on shares of Dynex Capital in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.56.

Dynex Capital Stock Performance

The stock has a market cap of $2.92 billion, a P/E ratio of 4.48 and a beta of 0.96. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $12.83 and a two-hundred day moving average price of $13.00.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $302.75 million for the quarter, compared to the consensus estimate of $103.62 million. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 17.3%. The ex-dividend date of this dividend is Monday, September 21st. Dynex Capital’s dividend payout ratio (DPR) is 77.57%.

Hedge Funds Weigh In On Dynex Capital

Several hedge funds have recently modified their holdings of DX. BlackRock Inc. boosted its holdings in shares of Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after purchasing an additional 2,355,906 shares during the last quarter. Callodine Capital Management LP bought a new stake in shares of Dynex Capital in the first quarter worth about $21,320,000. Segall Bryant & Hamill LLC bought a new stake in shares of Dynex Capital in the first quarter worth about $19,581,000. Royal Bank of Canada lifted its position in shares of Dynex Capital by 2,358.9% in the first quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust’s stock worth $19,537,000 after buying an additional 1,468,836 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Dynex Capital by 142.9% in the second quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock worth $29,128,000 after buying an additional 1,307,100 shares in the last quarter. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Company Profile

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that invests primarily in residential and commercial mortgage-backed securities. Its portfolio generally focuses on agency securities, which are issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae.

The company finances its investments through repurchase agreements and other forms of secured borrowing and uses hedging strategies to manage interest-rate and financing risks.