Dynex Capital Inc. (NYSE:DX) Receives Average Rating of “Hold” from Analysts
Dynex Capital Inc. (NYSE:DX) has earned a consensus rating of “Hold” from the six brokerages that are covering the stock. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.25.
A number of research analysts recently commented on DX shares. Credit Suisse Group AG reissued a “hold” rating and issued a $7.25 price target on shares of Dynex Capital in a report on Friday, September 9th. Zacks Investment Research raised Dynex Capital from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th.
In other news, Director Thomas B. Akin sold 66,103 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $7.51, for a total transaction of $496,433.53. Following the sale, the director now directly owns 1,270,289 shares in the company, valued at approximately $9,539,870.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas B. Akin sold 54,592 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $7.48, for a total value of $408,348.16. Following the sale, the director now owns 1,195,018 shares in the company, valued at $8,938,734.64. The disclosure for this sale can be found here. Company insiders own 9.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in DX. Menta Capital LLC bought a new stake in shares of Dynex Capital during the first quarter worth $622,000. Goldman Sachs Group Inc. boosted its stake in shares of Dynex Capital by 19.3% in the first quarter. Goldman Sachs Group Inc. now owns 406,883 shares of the company’s stock worth $2,705,000 after buying an additional 65,889 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Dynex Capital by 12.3% in the first quarter. Royal Bank of Canada now owns 59,521 shares of the company’s stock worth $396,000 after buying an additional 6,516 shares during the last quarter. Sterneck Capital Management LLC boosted its stake in Dynex Capital by 0.3% in the first quarter. Sterneck Capital Management LLC now owns 17,374 shares of the company’s stock valued at $116,000 after buying an additional 54 shares in the last quarter. Finally, James Investment Research Inc. acquired a new stake in Dynex Capital during the second quarter valued at approximately $678,000. Institutional investors and hedge funds own 43.87% of the company’s stock.
Dynex Capital (NYSE:DX) traded down 0.806% on Thursday, hitting $6.765. The stock had a trading volume of 166,122 shares. The company’s 50 day moving average price is $7.36 and its 200-day moving average price is $6.94. The company’s market cap is $332.47 million. Dynex Capital has a 12-month low of $5.22 and a 12-month high of $7.61.
Dynex Capital (NYSE:DX) last issued its earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Dynex Capital had a positive return on equity of 13.04% and a negative net margin of 45.32%. The company earned $16.72 million during the quarter, compared to analysts’ expectations of $16.56 million. During the same period in the previous year, the company earned $0.21 EPS. Dynex Capital’s quarterly revenue was down 12.0% on a year-over-year basis. Equities research analysts anticipate that Dynex Capital will post $1.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 12.32%. The ex-dividend date is Monday, October 3rd. Dynex Capital’s dividend payout ratio is presently -80.00%.
Dynex Capital Company Profile
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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