Dynex Capital, Inc. (NYSE:DX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Dynex Capital, Inc. (NYSE:DX) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.35.

DX has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a report on Wednesday, August 28th. StockNews.com lowered Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st.

Dynex Capital Price Performance

Shares of NYSE:DX opened at $12.39 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. Dynex Capital has a 1 year low of $11.11 and a 1 year high of $13.13. The business has a fifty day simple moving average of $12.47 and a 200 day simple moving average of $12.29. The firm has a market cap of $982.13 million, a price-to-earnings ratio of 9.83 and a beta of 1.32.

Dynex Capital (NYSE:DX) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.39). Dynex Capital had a negative return on equity of 4.80% and a net margin of 28.83%. The firm had revenue of $83.46 million for the quarter, compared to analysts’ expectations of $4.92 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. As a group, sell-side analysts predict that Dynex Capital will post 1.03 earnings per share for the current fiscal year.

Dynex Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 14.53%. This is an increase from Dynex Capital’s previous monthly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 22nd. Dynex Capital’s dividend payout ratio is presently 123.81%.

Hedge Funds Weigh In On Dynex Capital

Several hedge funds have recently bought and sold shares of DX. Millennium Management LLC grew its position in shares of Dynex Capital by 62.1% in the second quarter. Millennium Management LLC now owns 2,575,848 shares of the real estate investment trust’s stock valued at $30,756,000 after purchasing an additional 986,471 shares during the last quarter. EMG Holdings L.P. acquired a new stake in shares of Dynex Capital in the second quarter valued at about $4,738,000. International Assets Investment Management LLC grew its position in shares of Dynex Capital by 1,152.5% in the third quarter. International Assets Investment Management LLC now owns 406,532 shares of the real estate investment trust’s stock valued at $5,187,000 after purchasing an additional 374,074 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Dynex Capital by 69.1% in the second quarter. Van ECK Associates Corp now owns 719,151 shares of the real estate investment trust’s stock valued at $8,587,000 after purchasing an additional 293,888 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Dynex Capital by 17.5% in the third quarter. Geode Capital Management LLC now owns 1,701,740 shares of the real estate investment trust’s stock valued at $21,718,000 after purchasing an additional 253,660 shares during the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

About Dynex Capital

Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.