Dynex Capital’s (DX) “Buy” Rating Reiterated at JonesTrading

JonesTrading reaffirmed their buy rating on shares of Dynex Capital (NYSE:DX) in a research note published on Tuesday,Benzinga reports. JonesTrading currently has a $14.75 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on DX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. BTIG Research set a $14.50 price objective on Dynex Capital in a report on Wednesday, June 17th. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, UBS Group reissued a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.56.

Dynex Capital Stock Performance

DX opened at $12.60 on Tuesday. The stock has a market capitalization of $2.71 billion, a P/E ratio of 4.79 and a beta of 0.95. The company’s 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $13.41. Dynex Capital has a 52-week low of $11.82 and a 52-week high of $14.93.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 9.63%. The firm had revenue of $302.75 million during the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be paid a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 16.2%. The ex-dividend date is Thursday, July 23rd. Dynex Capital’s dividend payout ratio (DPR) is currently 77.57%.

Hedge Funds Weigh In On Dynex Capital

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Dynex Capital by 98.5% during the fourth quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 928 shares during the period. Federation des caisses Desjardins du Quebec purchased a new position in shares of Dynex Capital during the 4th quarter valued at about $28,000. Triumph Capital Management purchased a new position in shares of Dynex Capital during the 3rd quarter valued at about $29,000. IMG Wealth Management Inc. bought a new position in shares of Dynex Capital during the 4th quarter valued at approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Dynex Capital by 124.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,318 shares during the period. 38.34% of the stock is owned by institutional investors.

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.