Dynex Capital (NYSE:DX) Sets New 52-Week Low – Should You Sell?

Dynex Capital, Inc. (NYSE:DX)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $10.88 and last traded at $10.9150, with a volume of 1049832 shares. The stock had previously closed at $11.14.

Wall Street Analyst Weigh In

DX has been the subject of several research reports. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. JonesTrading reaffirmed a “buy” rating and set a $14.75 target price on shares of Dynex Capital in a report on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research report on Monday, September 21st. Finally, BTIG Research set a $14.50 price target on Dynex Capital in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.56.

Dynex Capital Stock Performance

The firm’s 50 day simple moving average is $12.61 and its 200-day simple moving average is $12.91. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 4.18 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.The business had revenue of $302.75 million during the quarter, compared to analysts’ expectations of $103.62 million.

Dynex Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be given a dividend of $0.17 per share. The ex-dividend date is Monday, September 21st. This represents a $2.04 dividend on an annualized basis and a yield of 18.6%. Dynex Capital’s dividend payout ratio (DPR) is presently 77.57%.

Insider Buying and Selling

In other Dynex Capital news, CIO John Jr bought 2,500 shares of the stock in a transaction on Friday, September 25th. The shares were bought at an average price of $11.18 per share, with a total value of $27,950.00. Following the purchase, the executive directly owned 58,695 shares in the company, valued at $656,210.10. The trade was a 4.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Institutional Trading of Dynex Capital

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in Dynex Capital by 12.8% during the second quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust’s stock valued at $67,862,000 after purchasing an additional 579,022 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Dynex Capital by 321.0% during the 1st quarter. Bank of America Corp DE now owns 763,452 shares of the real estate investment trust’s stock valued at $9,742,000 after buying an additional 582,129 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Dynex Capital by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,988 shares of the real estate investment trust’s stock valued at $10,278,000 after buying an additional 94,948 shares during the period. BlackRock Inc. grew its holdings in shares of Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after acquiring an additional 2,355,906 shares in the last quarter. Finally, Odyssean LLC grew its holdings in shares of Dynex Capital by 328.6% during the 2nd quarter. Odyssean LLC now owns 183,328 shares of the real estate investment trust’s stock valued at $2,403,000 after acquiring an additional 140,553 shares in the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

About Dynex Capital

Dynex Capital, Inc (NYSE: DX) is a mortgage real estate investment trust that invests in mortgage-related assets. Its portfolio primarily consists of agency mortgage-backed securities, including securities backed by residential and commercial mortgages, as well as other mortgage assets.

The company uses financing arrangements, including repurchase agreements, to support its investment activities and seeks to generate income from the spread between the returns on its investments and its financing and operating costs.