Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Dynex Capital (NYSE:DX) Stock

Dynex Capital (NYSE:DX - Get Free Report) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $12.50 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 2.04% from the stock's current price.

A number of other brokerages have also recently issued reports on DX. Jones Trading reduced their price objective on Dynex Capital from $13.25 to $12.50 and set a "buy" rating on the stock in a research note on Monday, April 21st. Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Dynex Capital presently has an average rating of "Hold" and a consensus price target of $12.67.

Dynex Capital Trading Down 0.8%

Shares of NYSE:DX traded down $0.10 on Thursday, reaching $12.74. 3,115,050 shares of the company traded hands, compared to its average volume of 2,715,934. The business's 50-day simple moving average is $12.29 and its 200 day simple moving average is $12.72. Dynex Capital has a 52 week low of $10.79 and a 52 week high of $14.52. The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.55 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. Dynex Capital had a return on equity of 1.59% and a net margin of 20.61%. The firm had revenue of $17.13 million for the quarter, compared to analysts' expectations of $11.41 million. Sell-side analysts expect that Dynex Capital will post 1.94 EPS for the current fiscal year.

Institutional Trading of Dynex Capital

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Dynex Capital by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,132 shares of the real estate investment trust's stock worth $8,249,000 after buying an additional 42,012 shares during the period. Raymond James Financial Inc. purchased a new stake in Dynex Capital in the fourth quarter worth about $1,510,000. Allspring Global Investments Holdings LLC lifted its holdings in Dynex Capital by 122.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 27,400 shares of the real estate investment trust's stock worth $357,000 after buying an additional 15,100 shares during the period. Vanguard Group Inc. lifted its holdings in Dynex Capital by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust's stock worth $54,615,000 after buying an additional 260,798 shares during the period. Finally, Northern Trust Corp lifted its holdings in Dynex Capital by 15.7% in the fourth quarter. Northern Trust Corp now owns 724,865 shares of the real estate investment trust's stock worth $9,170,000 after buying an additional 98,537 shares during the period. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

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.