Dynex Capital, Inc. (DX) Lifted to Buy at BidaskClub
BidaskClub upgraded shares of Dynex Capital, Inc. (NYSE:DX) from a hold rating to a buy rating in a report issued on Saturday morning.
Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $7.00 price objective on shares of Dynex Capital in a report on Tuesday, May 30th. Zacks Investment Research upgraded Dynex Capital from a sell rating to a hold rating in a research note on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Dynex Capital has a consensus rating of Hold and a consensus target price of $7.13.
Shares of Dynex Capital (NYSE:DX) opened at 7.09 on Friday. The firm has a market cap of $349.07 million, a P/E ratio of 4.60 and a beta of 0.85. The stock’s 50 day moving average is $7.00 and its 200-day moving average is $6.94. Dynex Capital has a 52-week low of $6.49 and a 52-week high of $7.61.
Dynex Capital (NYSE:DX) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $14.26 million. Dynex Capital had a return on equity of 11.04% and a net margin of 93.54%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Equities analysts anticipate that Dynex Capital will post $0.72 earnings per share for the current fiscal year.
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In other Dynex Capital news, Director Barry Igdaloff sold 7,693 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $6.90, for a total value of $53,081.70. Following the sale, the director now owns 317,185 shares in the company, valued at approximately $2,188,576.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.14% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in DX. Norges Bank acquired a new position in shares of Dynex Capital during the fourth quarter worth about $1,348,000. Teachers Advisors LLC increased its position in shares of Dynex Capital by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 92,579 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 707 shares in the last quarter. LSV Asset Management increased its position in shares of Dynex Capital by 4.8% in the first quarter. LSV Asset Management now owns 1,479,598 shares of the real estate investment trust’s stock worth $10,490,000 after buying an additional 68,200 shares in the last quarter. IndexIQ Advisors LLC increased its position in shares of Dynex Capital by 12.8% in the first quarter. IndexIQ Advisors LLC now owns 50,050 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 5,676 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Dynex Capital by 12.2% in the first quarter. Advisors Asset Management Inc. now owns 154,722 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 16,812 shares in the last quarter. 44.41% of the stock is currently owned by institutional investors.
About Dynex Capital
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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