Dynex Capital (NYSE:DX) Sees Large Volume Increase on Better-Than-Expected Earnings

Dynex Capital, Inc. (NYSE:DX - Get Free Report) saw an uptick in trading volume on Monday following a stronger than expected earnings report. 1,894,243 shares changed hands during mid-day trading, a decline of 15% from the previous session's volume of 2,232,564 shares.The stock last traded at $11.38 and had previously closed at $11.67.

The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%.

Dynex Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 16.67%. The ex-dividend date is Wednesday, April 23rd. Dynex Capital's dividend payout ratio is currently 264.94%.

Analyst Ratings Changes

Several brokerages have weighed in on DX. Keefe, Bruyette & Woods dropped their price objective on shares of Dynex Capital from $13.25 to $12.50 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday. JMP Securities reissued a "market perform" rating on shares of Dynex Capital in a research report on Thursday, January 23rd. Finally, Jones Trading lowered 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $12.83.

Institutional Trading of Dynex Capital

Several large investors have recently made changes to their positions in DX. Sterling Capital Management LLC boosted its holdings in shares of Dynex Capital by 838.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 2,223 shares in the last quarter. Amalgamated Bank boosted its stake in Dynex Capital by 50.5% in the first quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 973 shares in the last quarter. Westend Capital Management LLC grew its position in Dynex Capital by 37.0% in the fourth quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 919 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Dynex Capital in the fourth quarter valued at about $43,000. Finally, PNC Financial Services Group Inc. raised its stake in Dynex Capital by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 38.34% of the company's stock.

Dynex Capital Price Performance

The business's fifty day moving average price is $13.06 and its 200 day moving average price is $12.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $1.18 billion, a P/E ratio of 8.33 and a beta of 1.14.

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.