Dynex Capital (NYSE:DX) Posts Earnings Results

Dynex Capital (NYSE:DX) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26), FiscalAI reports. The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $59.41 million. Dynex Capital had a net margin of 41.53% and a return on equity of 6.65%.

Dynex Capital Trading Up 1.1%

DX opened at $14.61 on Monday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 9.87 and a beta of 0.98. The firm’s 50 day moving average is $13.92 and its 200-day moving average is $13.18. Dynex Capital has a 52-week low of $10.79 and a 52-week high of $14.67. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.01.

Dynex Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, January 21st will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a c) annualized dividend and a yield of 14.0%. Dynex Capital’s dividend payout ratio (DPR) is 137.84%.

Analyst Ratings Changes

A number of research firms have recently commented on DX. Keefe, Bruyette & Woods raised their price objective on Dynex Capital from $14.00 to $14.50 and gave the stock an “outperform” rating in a report on Thursday, December 18th. UBS Group set a $13.25 target price on shares of Dynex Capital and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Jones Trading restated a “buy” rating and issued a $14.00 price target on shares of Dynex Capital in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Dynex Capital presently has a consensus rating of “Moderate Buy” and an average price target of $13.92.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Brevan Howard Capital Management LP increased its position in Dynex Capital by 2.1% in the third quarter. Brevan Howard Capital Management LP now owns 52,725 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 1,074 shares during the period. Lido Advisors LLC boosted its holdings in shares of Dynex Capital by 2.3% during the third quarter. Lido Advisors LLC now owns 53,321 shares of the real estate investment trust’s stock valued at $664,000 after acquiring an additional 1,179 shares during the period. Triumph Capital Management bought a new position in shares of Dynex Capital during the third quarter worth about $29,000. Creative Planning increased its holdings in shares of Dynex Capital by 18.3% in the 3rd quarter. Creative Planning now owns 22,075 shares of the real estate investment trust’s stock worth $271,000 after acquiring an additional 3,409 shares during the period. Finally, Advisory Services Network LLC bought a new stake in Dynex Capital in the 3rd quarter valued at about $70,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

Dynex Capital Company Profile

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.