Dynex Capital, Inc. (DX) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Dynex Capital, Inc. (NYSE:DX) from a sell rating to a hold rating in a research note published on Tuesday, July 11th.
According to Zacks, “Dynex Capital, Inc. and its Subsidiaries and Affiliates, is a mortgage and consumer finance company which uses its loan production operations to create investments for its portfolio. Currently, the Company’s primary production operations include the origination of mortgage loans secured by multi-family properties and the origination of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand into other financial products in the future. “
Several other research firms have also recently commented on DX. BidaskClub cut Dynex Capital from a buy rating to a hold rating in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated a hold rating and set a $7.00 target price on shares of Dynex Capital in a research note on Tuesday, May 30th. Five research analysts have rated the stock with a hold rating, The stock presently has an average rating of Hold and an average target price of $7.13.
Dynex Capital (NYSE:DX) opened at 7.11 on Tuesday. The company has a market cap of $350.05 million, a price-to-earnings ratio of 4.62 and a beta of 0.85. The company’s 50 day moving average is $6.97 and its 200 day moving average is $6.89. Dynex Capital has a 1-year low of $6.49 and a 1-year high of $7.61.
Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Dynex Capital had a net margin of 93.54% and a return on equity of 11.01%. The company had revenue of $16.10 million during the quarter, compared to the consensus estimate of $14.26 million. During the same quarter last year, the company earned $0.21 earnings per share. Dynex Capital’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts forecast that Dynex Capital will post $0.68 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 6th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.13%. The ex-dividend date was Monday, July 3rd. Dynex Capital’s payout ratio is 46.75%.
In other news, Director Barry Igdaloff sold 7,693 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $6.90, for a total transaction of $53,081.70. Following the transaction, the director now directly owns 317,185 shares of the company’s stock, valued at $2,188,576.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.14% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Dynex Capital by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 299,135 shares of the real estate investment trust’s stock worth $2,124,000 after buying an additional 16,515 shares during the period. Smith Asset Management Group LP acquired a new position in shares of Dynex Capital during the second quarter worth approximately $226,000. Schwab Charles Investment Management Inc. raised its position in shares of Dynex Capital by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 183,432 shares of the real estate investment trust’s stock worth $1,303,000 after buying an additional 950 shares during the period. Bessemer Group Inc. acquired a new position in shares of Dynex Capital during the second quarter worth approximately $538,000. Finally, Aperio Group LLC raised its position in shares of Dynex Capital by 52.0% in the second quarter. Aperio Group LLC now owns 80,461 shares of the real estate investment trust’s stock worth $571,000 after buying an additional 27,540 shares during the period. 43.89% of the stock is currently owned by institutional investors.
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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