Dynex Capital (NYSE:DX) Reaches New 1-Year Low - What's Next?

Key Points

• Dynex Capital shares fell to a new 52-week low of $10.73, trading below both their 50-day ($12.47) and 200-day ($12.85) moving averages. The company’s market capitalization is approximately $2.69 billion.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $13.94, well above the recent trading price. Individual targets range from $12.00 to $14.75.
• Dynex declared a monthly dividend of $0.17 per share, equivalent to an annualized $2.04 payout and an 18.8% yield. Quarterly EPS of $0.36 met analyst expectations, while an insider recently purchased 2,500 shares.

Dynex Capital, Inc. (NYSE:DX - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $10.73 and last traded at $10.8540, with a volume of 7289942 shares trading hands. The stock had previously closed at $10.83.

Wall Street Analyst Weigh In

DX has been the subject of a number of analyst reports. BTIG Research set a $12.00 price objective on shares of Dynex Capital in a research note on Tuesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research note on Monday, September 21st. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Dynex Capital in a report on Tuesday, July 21st. Finally, JonesTrading reissued a "buy" rating and set a $14.75 target price on shares of Dynex Capital in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.94.

Dynex Capital Trading Up 0.2%

The firm has a market cap of $2.69 billion, a P/E ratio of 4.13 and a beta of 0.98. The company's 50 day moving average is $12.47 and its two-hundred day moving average is $12.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16.

Dynex Capital (NYSE:DX - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $302.75 million for the quarter, compared to analyst estimates of $103.62 million. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.

Dynex Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were given a dividend of $0.17 per share. The ex-dividend date was Monday, September 21st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 18.8%. Dynex Capital's payout ratio is currently 77.57%.

Insider Activity at Dynex Capital

In other news, CIO John Jr bought 2,500 shares of the business's stock in a transaction that occurred on Friday, September 25th. The stock was acquired at an average cost of $11.18 per share, for a total transaction of $27,950.00. Following the completion of the purchase, the executive owned 58,695 shares of the company's stock, valued at $656,210.10. This trade represents a 4.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company's stock.

Institutional Investors Weigh In On Dynex Capital

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in Dynex Capital by 12.8% in the 2nd quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust's stock valued at $67,862,000 after buying an additional 579,022 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Dynex Capital by 24.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 105,760 shares of the real estate investment trust's stock worth $1,387,000 after acquiring an additional 20,867 shares during the period. WINTON GROUP Ltd bought a new position in shares of Dynex Capital during the 2nd quarter worth about $793,000. Engineers Gate Manager LP boosted its position in shares of Dynex Capital by 12.1% during the 2nd quarter. Engineers Gate Manager LP now owns 240,574 shares of the real estate investment trust's stock valued at $3,154,000 after acquiring an additional 26,038 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Dynex Capital during the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 38.34% of the company's stock.

Dynex Capital Company Profile

Dynex Capital, Inc NYSE: DX is a mortgage real estate investment trust that invests in mortgage-related assets. Its portfolio primarily consists of agency mortgage-backed securities, including securities backed by residential and commercial mortgages, as well as other mortgage assets.

The company uses financing arrangements, including repurchase agreements, to support its investment activities and seeks to generate income from the spread between the returns on its investments and its financing and operating costs.

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