Shares of Dynex Capital Inc. (NYSE:DX) have received a consensus rating of “Hold” from the six analysts that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $7.25.
DX has been the topic of a number of research analyst reports. Credit Suisse Group AG reaffirmed a “hold” rating and set a $7.25 target price on shares of Dynex Capital in a report on Friday, September 9th. Zacks Investment Research raised Dynex Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
Dynex Capital (NYSE:DX) opened at 6.85 on Thursday. The company’s 50-day moving average price is $7.30 and its 200-day moving average price is $6.94. Dynex Capital has a one year low of $5.22 and a one year high of $7.61. The firm’s market cap is $336.65 million.
Dynex Capital (NYSE:DX) last released its earnings results on Wednesday, July 27th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Dynex Capital had a positive return on equity of 13.04% and a negative net margin of 45.32%. The firm had revenue of $16.72 million for the quarter, compared to the consensus estimate of $16.56 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. On average, analysts anticipate that Dynex Capital will post $1.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 12.26%. The ex-dividend date is Monday, October 3rd. Dynex Capital’s dividend payout ratio is presently -80.00%.
In related news, Director Thomas B. Akin sold 66,103 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $7.51, for a total value of $496,433.53. Following the sale, the director now owns 1,270,289 shares of the company’s stock, valued at approximately $9,539,870.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas B. Akin sold 54,592 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $7.48, for a total value of $408,348.16. Following the completion of the sale, the director now directly owns 1,195,018 shares in the company, valued at approximately $8,938,734.64. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Dynex Capital by 16.3% in the second quarter. BlackRock Fund Advisors now owns 2,335,651 shares of the company’s stock valued at $16,209,000 after buying an additional 327,887 shares during the period. IFP Advisors Inc increased its stake in shares of Dynex Capital by 2,275.8% in the second quarter. IFP Advisors Inc now owns 187,904 shares of the company’s stock valued at $1,304,000 after buying an additional 179,995 shares during the period. James Investment Research Inc. bought a new stake in shares of Dynex Capital during the second quarter valued at about $678,000. Menta Capital LLC bought a new stake in shares of Dynex Capital during the first quarter valued at about $622,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Dynex Capital by 18.0% in the second quarter. Parametric Portfolio Associates LLC now owns 444,832 shares of the company’s stock valued at $3,087,000 after buying an additional 67,958 shares during the period. 43.87% of the stock is currently 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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