Dynex Capital, Inc. (NYSE:DX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Dynex Capital has a “Moderate Buy” consensus rating from five analysts, with three buys and two holds. The average 12-month price target is $13.94, compared with a reported share price of $10.85.
• The mortgage REIT reported quarterly EPS of $0.36, matching analyst expectations, while revenue reached $302.75 million versus the $103.62 million estimate.
• Dynex Capital declared a monthly dividend of $0.17 per share, or $2.04 annualized, representing an indicated yield of approximately 18.8%.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $13.94.

DX has been the topic of a number of recent analyst reports. JonesTrading reissued a "buy" rating and set a $14.75 price target on shares of Dynex Capital in a research report on Tuesday, July 21st. BTIG Research set a $12.00 target price on shares of Dynex Capital and gave the stock a "buy" rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Dynex Capital in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut Dynex Capital from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday.

Dynex Capital Price Performance

DX opened at $10.85 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16. Dynex Capital has a 1 year low of $10.73 and a 1 year high of $14.93. The stock has a market capitalization of $2.69 billion, a PE ratio of 4.13 and a beta of 0.98. The company's 50 day simple moving average is $12.47 and its 200 day simple moving average is $12.85.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The business had revenue of $302.75 million during the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were given a dividend of $0.17 per share. The ex-dividend date was Monday, September 21st. This represents a $2.04 dividend on an annualized basis and a yield of 18.8%. Dynex Capital's dividend payout ratio is 77.57%.

Insider Buying and Selling at Dynex Capital

In other news, CIO John Jr acquired 2,500 shares of the business's stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $11.18 per share, for a total transaction of $27,950.00. Following the completion of the transaction, the executive owned 58,695 shares in the company, valued at approximately $656,210.10. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Institutional Trading of Dynex Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake 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 buying an additional 2,355,906 shares during the last quarter. State Street Corp raised its holdings in Dynex Capital by 12.8% in the 2nd quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust's stock worth $67,862,000 after acquiring an additional 579,022 shares during the period. Wellington Management Group LLP increased its holdings in Dynex Capital by 142.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust's stock valued at $29,128,000 after buying an additional 1,307,100 shares during the period. Callodine Capital Management LP acquired a new position in shares of Dynex Capital in the 1st quarter worth approximately $21,320,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Dynex Capital during the 1st quarter valued at about $19,581,000. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Dynex Capital Company Profile

Dynex Capital, Inc NYSE: DX is a mortgage real estate investment trust that invests in mortgage-related assets. Its portfolio primarily consists of agency mortgage-backed securities, including securities backed by residential and commercial mortgages, as well as other mortgage assets.

The company uses financing arrangements, including repurchase agreements, to support its investment activities and seeks to generate income from the spread between the returns on its investments and its financing and operating costs.

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