Jones Trading Issues Pessimistic Forecast for Dynex Capital (NYSE:DX) Stock Price

Dynex Capital (NYSE:DX - Free Report) had its target price cut by Jones Trading from $13.25 to $12.50 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust's stock.

Several other research firms also recently weighed in on DX. StockNews.com upgraded shares of Dynex Capital from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reduced 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. Finally, JMP Securities restated a "market perform" rating on shares of Dynex Capital in a research report on Thursday, January 23rd. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.83.

Dynex Capital Stock Performance

Shares of NYSE:DX traded up $0.26 during mid-day trading on Monday, reaching $12.24. The company had a trading volume of 3,211,629 shares, compared to its average volume of 2,283,834. Dynex Capital has a one year low of $10.79 and a one year high of $14.52. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The company's 50-day moving average price is $13.06 and its 200-day moving average price is $12.79. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 8.33 and a beta of 1.14.

Dynex Capital (NYSE:DX - Get Free Report) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm 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%. As a group, equities research analysts anticipate that Dynex Capital will post 1.94 EPS for the current fiscal year.

Dynex Capital Dividend Announcement

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

Hedge Funds Weigh In On Dynex Capital

Several hedge funds have recently bought and sold shares of DX. Vanguard Group Inc. boosted its holdings in Dynex Capital by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust's stock valued at $54,615,000 after purchasing an additional 260,798 shares during the period. Geode Capital Management LLC raised its position in shares of Dynex Capital by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 1,838,020 shares of the real estate investment trust's stock worth $23,256,000 after buying an additional 136,280 shares in the last quarter. State Street Corp boosted its stake in Dynex Capital by 2.9% during the third quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust's stock valued at $19,977,000 after buying an additional 44,302 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Dynex Capital by 6.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,427,121 shares of the real estate investment trust's stock worth $18,053,000 after buying an additional 81,510 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Dynex Capital by 9.4% in the 4th quarter. Invesco Ltd. now owns 1,270,019 shares of the real estate investment trust's stock worth $16,066,000 after acquiring an additional 108,747 shares during the last quarter. Hedge funds and other institutional investors own 38.34% of the company's stock.

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.