JonesTrading Reaffirms "Buy" Rating for Dynex Capital (NYSE:DX)

Key Points

• JonesTrading reiterated a Buy rating on Dynex Capital and set a $14.75 price target, implying about 12.49% upside from the prior close.
• Other analysts are mixed on the mortgage REIT: Dynex now carries a Moderate Buy consensus with an average price target of $14.56, while some firms have recently cut or held ratings.
• The stock traded around $13.11 and recently reported earnings that missed EPS and revenue estimates, though the article’s trending updates note Q2 results beat expectations, revenue was strong, and book value grew.

Dynex Capital (NYSE:DX - Get Free Report)'s stock had its "buy" rating restated by stock analysts at JonesTrading in a note issued to investors on Tuesday,Benzinga reports. They currently have a $14.75 price objective on the real estate investment trust's stock. JonesTrading's target price indicates a potential upside of 12.49% from the company's previous close.

DX has been the subject of a number of other reports. Wall Street Zen lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. UBS Group reaffirmed a "neutral" rating and issued a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a report on Wednesday, June 17th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.56.

Dynex Capital Stock Performance

Shares of DX stock opened at $13.11 on Tuesday. The stock has a 50 day moving average price of $13.03 and a 200 day moving average price of $13.43. Dynex Capital has a 52-week low of $11.82 and a 52-week high of $14.93. The firm has a market capitalization of $2.82 billion, a P/E ratio of 7.76 and a beta of 0.95.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%. The business had revenue of ($59.11) million during the quarter, compared to the consensus estimate of $67.37 million.

Institutional Trading of Dynex Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Dynex Capital in the first quarter worth about $2,552,000. Morling Financial Advisors LLC acquired a new stake in Dynex Capital in the 1st quarter worth approximately $1,071,000. GraniteShares Advisors LLC purchased a new stake in Dynex Capital during the 4th quarter worth approximately $2,720,000. M&T Bank Corp acquired a new position in Dynex Capital during the 4th quarter valued at approximately $741,000. Finally, TrueMark Investments LLC acquired a new position in Dynex Capital during the 4th quarter valued at approximately $1,012,000. 38.34% of the stock is currently owned by institutional investors.

Trending Headlines about Dynex Capital

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: Dynex Capital reported Q2 earnings per share of $0.36, matching Wall Street’s estimate, while revenue came in at $302.75 million, well above expectations. Dynex Capital Q2 Earnings Report and Conference Call
• Positive Sentiment: Coverage of the earnings call highlighted strong growth, strong economic return, and strategic execution, suggesting management delivered an encouraging outlook for the mortgage REIT’s core business. Dynex Capital Earnings Call Highlights Strong Growth
• Positive Sentiment: Reports also noted that book value grew, which is important for a mortgage REIT like Dynex because it can signal stronger asset performance and support investor confidence in dividend sustainability. Dynex trades higher as Q2 earnings beat as book value grows
• Neutral Sentiment: The company’s Q2 earnings snapshot and transcript coverage add detail to the results, but the main market-moving takeaway remains the better-than-feared earnings performance and improving fundamentals. Dynex Capital Q2 Earnings Snapshot
• Negative Sentiment: No major negative headlines were apparent in the latest batch of articles; however, investors will still be watching whether the stronger quarter can be sustained given rate and spread pressures typical for mortgage REITs.

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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