Dynex Capital, Inc. (NYSE:DX) Stock Has Consensus Price Target of $13.94

Dynex Capital, Inc. (NYSE:DX) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $13.94.

Several equities analysts recently weighed in on the company. BTIG Research set a $12.00 price objective on Dynex Capital and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Weiss Ratings downgraded Dynex Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Finally, JonesTrading restated a “buy” rating and set a $14.75 target price on shares of Dynex Capital in a research report on Tuesday, July 21st.

Dynex Capital Price Performance

NYSE:DX opened at $10.85 on Wednesday. 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 has a 52-week low of $10.73 and a 52-week high of $14.93. The stock has a fifty day moving average of $12.47 and a 200 day moving average of $12.85. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 4.13 and a beta of 0.98.

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

Dynex Capital Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were issued a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a yield of 18.8%. The ex-dividend date of this dividend was Monday, September 21st. Dynex Capital’s payout ratio is currently 77.57%.

Insider Buying and Selling at Dynex Capital

In other news, CIO John Jr bought 2,500 shares of Dynex Capital stock in a transaction that occurred on Friday, September 25th. The shares were acquired at an average price of $11.18 per share, with a total value of $27,950.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dynex Capital

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in shares of 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 acquiring an additional 579,022 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Dynex Capital by 24.6% during the second quarter. The Manufacturers Life Insurance Company now owns 105,760 shares of the real estate investment trust’s stock worth $1,387,000 after purchasing an additional 20,867 shares during the period. WINTON GROUP Ltd acquired a new position in Dynex Capital during the 2nd quarter worth about $793,000. Engineers Gate Manager LP lifted its holdings in Dynex Capital by 12.1% during the 2nd quarter. Engineers Gate Manager LP now owns 240,574 shares of the real estate investment trust’s stock worth $3,154,000 after buying an additional 26,038 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Dynex Capital in the 2nd quarter valued at approximately $42,000. Institutional investors own 38.34% of the company’s stock.

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.