Dynex Capital (NYSE:DX) Issues Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Key Points

• Dynex Capital reported quarterly earnings of $0.25 EPS, significantly missing analyst estimates of $0.44 EPS by $0.19.
• The company declared a monthly dividend of $0.17, representing a high yield of 15.2%, with a payout ratio of 261.54%.
• Analysts maintain a consensus rating of "Hold" on Dynex Capital with an average target price of $13.42.

Dynex Capital (NYSE:DX - Get Free Report) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.19), Zacks reports. Dynex Capital had a net margin of 17.27% and a return on equity of 4.19%. The company had revenue of $30.61 million for the quarter, compared to analyst estimates of $32.06 million.

Dynex Capital Trading Up 0.3%

DX traded up $0.04 during trading on Monday, reaching $13.42. The company had a trading volume of 7,281,371 shares, compared to its average volume of 3,896,358. The firm's 50-day simple moving average is $12.59 and its 200 day simple moving average is $12.37. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 17.20 and a beta of 0.92. Dynex Capital has a 12-month low of $10.79 and a 12-month high of $14.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.30 and a current ratio of 1.30.

Dynex Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a c) dividend on an annualized basis and a yield of 15.2%. Dynex Capital's dividend payout ratio (DPR) is currently 261.54%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DX shares. UBS Group set a $13.25 target price on Dynex Capital and gave the company a "neutral" rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Dynex Capital in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Jones Trading reiterated a "buy" rating and issued a $14.00 target price on shares of Dynex Capital in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.42.

Insider Transactions at Dynex Capital

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

Institutional Investors Weigh In On Dynex Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vident Advisory LLC acquired a new stake in Dynex Capital in the 2nd quarter worth approximately $235,000. Osaic Holdings Inc. lifted its holdings in shares of Dynex Capital by 36.1% during the second quarter. Osaic Holdings Inc. now owns 22,529 shares of the real estate investment trust's stock worth $275,000 after buying an additional 5,974 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Dynex Capital during the second quarter worth approximately $302,000. Cetera Investment Advisers lifted its holdings in shares of Dynex Capital by 51.5% during the second quarter. Cetera Investment Advisers now owns 25,149 shares of the real estate investment trust's stock worth $307,000 after buying an additional 8,549 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Dynex Capital by 36.0% during the second quarter. New York State Common Retirement Fund now owns 34,774 shares of the real estate investment trust's stock worth $425,000 after buying an additional 9,200 shares during the last quarter. 38.34% of the stock is currently 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.

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