Dynex Capital, Inc. (NYSE:DX) Receives $13.35 Consensus Target Price from Brokerages

Dynex Capital, Inc. (NYSE:DX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $13.35.

Several research analysts have commented on the stock. StockNews.com cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research report on Wednesday, August 28th.

Hedge Funds Weigh In On Dynex Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its stake in Dynex Capital by 62.1% in the 2nd quarter. Millennium Management LLC now owns 2,575,848 shares of the real estate investment trust’s stock valued at $30,756,000 after buying an additional 986,471 shares during the period. EMG Holdings L.P. acquired a new position in shares of Dynex Capital in the second quarter worth $4,738,000. International Assets Investment Management LLC raised its holdings in shares of Dynex Capital by 1,152.5% during the third quarter. International Assets Investment Management LLC now owns 406,532 shares of the real estate investment trust’s stock worth $5,187,000 after acquiring an additional 374,074 shares in the last quarter. Van ECK Associates Corp boosted its position in Dynex Capital by 69.1% during 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, Algebris UK Ltd purchased a new position in Dynex Capital in the first quarter valued at about $2,477,000. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Price Performance

Shares of DX opened at $12.21 on Tuesday. Dynex Capital has a 52 week low of $9.70 and a 52 week high of $13.13. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a market cap of $968.30 million, a price-to-earnings ratio of 9.69 and a beta of 1.33. The stock has a 50 day moving average of $12.50 and a 200-day moving average of $12.22.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Monday, October 21st. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). Dynex Capital had a negative return on equity of 5.06% and a net margin of 28.83%. The business had revenue of $83.46 million during the quarter, compared to analyst estimates of $4.92 million. During the same period in the prior year, the firm earned ($0.28) EPS. As a group, analysts forecast that Dynex Capital will post 1.03 EPS for the current year.

Dynex Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 22nd will be paid a $0.15 dividend. This is an increase from Dynex Capital’s previous monthly dividend of $0.13. This represents a $1.80 annualized dividend and a yield of 14.74%. The ex-dividend date is Friday, November 22nd. Dynex Capital’s dividend payout ratio is currently 142.86%.

Dynex Capital Company Profile

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.