Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Dynex Capital, Inc. (NYSE:DX) in a report issued on Friday, October 6th. The firm currently has a $7.25 price objective on the real estate investment trust’s stock.
A number of other brokerages have also recently issued reports on DX. BidaskClub upgraded Dynex Capital from a hold rating to a buy rating in a research note on Saturday, August 26th. Zacks Investment Research raised Dynex Capital from a sell rating to a hold rating in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $7.38.
Shares of Dynex Capital (NYSE DX) opened at 7.35 on Friday. The company’s 50-day moving average price is $7.19 and its 200 day moving average price is $7.03. The company has a market cap of $361.87 million, a P/E ratio of 4.77 and a beta of 0.84. Dynex Capital has a one year low of $6.49 and a one year high of $7.41.
Dynex Capital (NYSE:DX) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $14.26 million. Dynex Capital had a return on equity of 11.04% and a net margin of 93.54%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities research analysts anticipate that Dynex Capital will post $0.71 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 3rd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.80%. The ex-dividend date is Monday, October 2nd. Dynex Capital’s payout ratio is 46.75%.
Several institutional investors have recently bought and sold shares of the business. Family Management Corp increased its holdings in shares of Dynex Capital by 75.9% in the 2nd quarter. Family Management Corp now owns 27,162 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 11,724 shares in the last quarter. Susquehanna International Group LLP increased its holdings in shares of Dynex Capital by 81.9% in the 2nd quarter. Susquehanna International Group LLP now owns 36,931 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 16,631 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Dynex Capital by 70.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 51,448 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 21,237 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Dynex Capital by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 41,822 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 1,019 shares during the period. Finally, State Street Corp grew its holdings in shares of Dynex Capital by 3.6% in the second quarter. State Street Corp now owns 1,180,035 shares of the real estate investment trust’s stock worth $8,375,000 after acquiring an additional 41,475 shares during the period. 44.41% of the stock is owned by institutional investors and hedge funds.
About Dynex Capital
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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