Dynex Capital, Inc. (NYSE:DX) Given Average Rating of "Hold" by Brokerages

Key Points

• Dynex Capital, Inc. has received an average rating of "Hold" from five brokerage firms, with the average one-year target price set at $13.00.
• Insider transactions revealed that CEO Smriti Laxman Popenoe and CFO Robert S. Colligan both acquired shares recently, indicating confidence in the company as their ownership increased by 1.06% and 3.60%, respectively.
• The company posted $0.22 EPS for the last quarter, which fell short of analysts' expectations, although revenue outperformed estimates at $23.13 million.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) has been given an average recommendation of "Hold" by the five research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.00.

A number of research firms recently issued reports on DX. Keefe, Bruyette & Woods raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Dynex Capital in a report on Saturday, September 27th. Jones Trading increased their price target on shares of Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a report on Monday, July 21st. Finally, UBS Group increased their price target on shares of Dynex Capital from $12.50 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd.

Insider Transactions at Dynex Capital

In other Dynex Capital news, CEO Smriti Laxman Popenoe acquired 4,260 shares of Dynex Capital stock in a transaction dated Friday, September 26th. The stock was bought at an average cost of $12.16 per share, with a total value of $51,801.60. Following the acquisition, the chief executive officer owned 407,338 shares of the company's stock, valued at approximately $4,953,230.08. The trade was a 1.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert S. Colligan acquired 4,200 shares of Dynex Capital stock in a transaction dated Friday, September 26th. The shares were acquired at an average cost of $12.12 per share, with a total value of $50,904.00. Following the completion of the acquisition, the chief financial officer directly owned 120,857 shares in the company, valued at $1,464,786.84. This trade represents a 3.60% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dynex Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank increased its position in Dynex Capital by 50.5% in the 1st quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 973 shares in the last quarter. CWM LLC grew its position in shares of Dynex Capital by 271.9% during the 1st quarter. CWM LLC now owns 3,154 shares of the real estate investment trust's stock worth $41,000 after buying an additional 2,306 shares during the period. Transce3nd LLC acquired a new stake in shares of Dynex Capital during the 2nd quarter worth approximately $49,000. US Bancorp DE grew its position in shares of Dynex Capital by 35.2% during the 1st quarter. US Bancorp DE now owns 5,134 shares of the real estate investment trust's stock worth $67,000 after buying an additional 1,338 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Dynex Capital by 89.7% during the 1st quarter. Russell Investments Group Ltd. now owns 7,721 shares of the real estate investment trust's stock worth $101,000 after buying an additional 3,650 shares during the period. Institutional investors and hedge funds own 38.34% of the company's stock.

Dynex Capital Stock Performance

NYSE:DX traded up $0.06 during midday trading on Friday, reaching $12.72. The stock had a trading volume of 4,242,294 shares, compared to its average volume of 5,568,885. Dynex Capital has a 1-year low of $10.79 and a 1-year high of $14.52. The firm's fifty day simple moving average is $12.48 and its 200-day simple moving average is $12.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $1.65 billion, a P/E ratio of 16.30 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last posted its earnings results on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.27). Dynex Capital had a net margin of 17.27% and a return on equity of 4.19%. The firm had revenue of $23.13 million during the quarter, compared to analyst estimates of $21.20 million. On average, equities research analysts forecast that Dynex Capital will post 1.94 EPS for the current fiscal year.

Dynex Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Monday, September 22nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, September 22nd. Dynex Capital's dividend payout ratio (DPR) is presently 261.54%.

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.

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