Dynex Capital (NYSE:DX) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Dynex Capital's share price has surpassed its 200-day moving average of $12.56, reaching a high of $12.59 during trading.
• Analysts have raised their price targets for Dynex Capital to $13.00 and two analysts rated it as a "Buy," while two others rated it as a "Hold," resulting in a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.17 per share, representing an annualized yield of 5.5%, with the payout ratio at 261.54%.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.56 and traded as high as $12.59. Dynex Capital shares last traded at $12.47, with a volume of 5,635,240 shares traded.

Wall Street Analysts Forecast Growth

DX has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Jones Trading boosted their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, UBS Group boosted their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Dynex Capital Stock Down 0.4%

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average is $12.56 and its 200-day moving average is $12.51. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 15.79 and a beta of 0.93.

Dynex Capital (NYSE:DX - Get Free Report) last released 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 company had revenue of $23.13 million for the quarter, compared to analyst estimates of $21.20 million. On average, analysts anticipate that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, September 22nd. This represents a $0.68 annualized dividend and a yield of 5.5%. Dynex Capital's dividend payout ratio is presently 261.54%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DX. Kingstone Capital Partners Texas LLC raised its holdings in Dynex Capital by 130,013.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,144,836 shares of the real estate investment trust's stock worth $242,772,000 after buying an additional 19,130,122 shares during the last quarter. Millennium Management LLC raised its holdings in Dynex Capital by 311.4% during the first quarter. Millennium Management LLC now owns 3,276,781 shares of the real estate investment trust's stock worth $42,664,000 after buying an additional 2,480,330 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Dynex Capital by 1,510.0% during the first quarter. MetLife Investment Management LLC now owns 728,728 shares of the real estate investment trust's stock worth $9,488,000 after buying an additional 683,466 shares during the last quarter. Algebris UK Ltd acquired a new position in Dynex Capital during the first quarter worth $6,511,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Dynex Capital in the 1st quarter worth $6,810,000. Institutional investors and hedge funds own 38.34% of the company's stock.

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.