Dynex Capital’s (DX) “Hold” Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their hold rating on shares of Dynex Capital (NYSE:DX) in a research note issued to investors on Friday. The firm currently has a $7.00 price target on the real estate investment trust’s stock.

Separately, Zacks Investment Research raised shares of Dynex Capital from a hold rating to a buy rating and set a $8.00 price objective on the stock in a research report on Tuesday, December 12th.

Dynex Capital (DX) traded up $0.09 during trading on Friday, reaching $6.33. 230,001 shares of the company’s stock were exchanged, compared to its average volume of 406,058. The firm has a market cap of $352.22, a price-to-earnings ratio of 14.39 and a beta of 0.66. Dynex Capital has a 12 month low of $6.03 and a 12 month 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 earnings results on Wednesday, February 21st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Dynex Capital had a net margin of 35.86% and a return on equity of 11.32%. The company had revenue of $14.07 million for the quarter, compared to analyst estimates of $15.90 million. During the same period in the prior year, the business earned $0.20 EPS. analysts predict that Dynex Capital will post 0.71 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date was Thursday, December 28th. Dynex Capital’s dividend payout ratio is presently 163.64%.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Dynex Capital by 0.9% in the 4th quarter. BlackRock Inc. now owns 2,988,047 shares of the real estate investment trust’s stock valued at $20,946,000 after buying an additional 27,359 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Dynex Capital by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,120,969 shares of the real estate investment trust’s stock valued at $15,059,000 after buying an additional 60,328 shares during the last quarter. LSV Asset Management grew its position in shares of Dynex Capital by 3.1% in the 4th quarter. LSV Asset Management now owns 1,627,500 shares of the real estate investment trust’s stock valued at $11,408,000 after buying an additional 49,700 shares during the last quarter. State Street Corp grew its position in shares of Dynex Capital by 3.6% in the 2nd quarter. State Street Corp now owns 1,180,035 shares of the real estate investment trust’s stock valued at $8,375,000 after buying an additional 41,475 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Dynex Capital by 27.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,027,906 shares of the real estate investment trust’s stock valued at $7,206,000 after buying an additional 219,006 shares during the last quarter. 39.80% of the stock is currently owned by institutional investors.

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Dynex Capital Company Profile

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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