Dynex Capital (NYSE:DX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $8.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.42% from the stock’s current price.

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 brokerages also recently weighed in on DX. BidaskClub upgraded Dynex Capital from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $7.25 target price on shares of Dynex Capital in a research note on Friday, October 6th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and set a $7.50 target price on shares of Dynex Capital in a research note on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $7.58.

Dynex Capital (NYSE:DX) traded up $0.02 on Tuesday, hitting $7.18. The stock had a trading volume of 296,812 shares, compared to its average volume of 333,414. The company has a market cap of $382.11, a P/E ratio of 9.79 and a beta of 0.81. Dynex Capital has a 52 week low of $6.58 and a 52 week high of $7.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.08 and a current ratio of 0.08.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Dynex Capital had a return on equity of 11.08% and a net margin of 86.86%. The company had revenue of $13.21 million during the quarter, compared to the consensus estimate of $15.36 million. During the same quarter in the prior year, the company posted $0.20 EPS. The firm’s revenue was down 12.3% on a year-over-year basis. research analysts predict that Dynex Capital will post 0.72 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Dynex Capital by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,060,641 shares of the real estate investment trust’s stock valued at $14,610,000 after purchasing an additional 83,438 shares during the period. Prudential Financial Inc. raised its holdings in Dynex Capital by 2.2% in the 3rd quarter. Prudential Financial Inc. now owns 687,286 shares of the real estate investment trust’s stock valued at $4,997,000 after acquiring an additional 14,550 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dynex Capital by 9.8% in the 1st quarter. Geode Capital Management LLC now owns 439,727 shares of the real estate investment trust’s stock valued at $3,116,000 after acquiring an additional 39,237 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Dynex Capital by 4.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 182,482 shares of the real estate investment trust’s stock valued at $1,294,000 after acquiring an additional 8,550 shares in the last quarter. Finally, First Quadrant L P CA raised its holdings in Dynex Capital by 1,816.1% in the 3rd quarter. First Quadrant L P CA now owns 122,978 shares of the real estate investment trust’s stock valued at $894,000 after acquiring an additional 116,560 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

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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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