Dynex Capital (NYSE:DX) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Dynex Capital from "sell" to "hold"; the analyst split (two Buy, two Hold) leaves a consensus rating of Moderate Buy with an average price target of $14.75.
• Dynex missed quarterly expectations with EPS of $0.31 (vs. $0.32 est.) and revenue below estimates, while shares trade around $13.76 with a market cap of $2.85B and a PE of 8.14.

Dynex Capital (NYSE:DX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Several other equities research analysts have also weighed in on DX. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Dynex Capital in a research note on Thursday, January 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research note on Friday, March 27th. UBS Group reiterated a "neutral" rating and set a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a research note on Friday. Finally, JonesTrading increased their price objective on shares of Dynex Capital from $14.00 to $15.25 and gave the stock a "buy" rating in a research note on Tuesday, January 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Dynex Capital currently has a consensus rating of "Moderate Buy" and an average price target of $14.75.

Dynex Capital Stock Performance

Shares of Dynex Capital stock opened at $13.76 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 8.14 and a beta of 0.99. The firm's 50-day simple moving average is $13.32 and its 200-day simple moving average is $13.62. Dynex Capital has a 1 year low of $11.70 and a 1 year high of $14.93.

Dynex Capital (NYSE:DX - Get Free Report) last issued its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The company had revenue of ($59.11) million during the quarter, compared to analyst estimates of $67.37 million. Dynex Capital had a net margin of 34.75% and a return on equity of 8.59%.

Institutional Investors Weigh In On Dynex Capital

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Dynex Capital by 98.5% in the fourth quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 928 shares during the period. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Dynex Capital in the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new stake in shares of Dynex Capital in the third quarter valued at approximately $29,000. IMG Wealth Management Inc. acquired a new stake in shares of Dynex Capital in the fourth quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Dynex Capital by 124.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,318 shares during the period. Institutional investors and hedge funds own 38.34% of the company's stock.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company's primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.

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