Zacks Investment Research upgraded shares of Dynex Capital (NYSE:DX) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.
According to Zacks, “Dynex Capital, Inc. and its Subsidiaries and Affiliates, is a mortgage and consumer finance company which uses its loan production operations to create investments for its portfolio. Currently, the Company’s primary production operations include the origination of mortgage loans secured by multi-family properties and the origination of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand into other financial products in the future. “
Other equities research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH downgraded shares of Dynex Capital from a buy rating to a neutral rating and set a $18.21 price target on the stock. in a research note on Thursday, May 2nd. ValuEngine downgraded shares of Dynex Capital from a hold rating to a sell rating in a research note on Monday, April 29th. Finally, Nomura initiated coverage on shares of Dynex Capital in a research note on Wednesday, March 27th. They set a buy rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $20.12.
Shares of DX stock opened at $16.97 on Thursday. Dynex Capital has a 52 week low of $16.23 and a 52 week high of $20.46. The firm has a market capitalization of $417.51 million, a PE ratio of 7.75 and a beta of 0.64.
Dynex Capital (NYSE:DX) last issued its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.54 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.54. Dynex Capital had a negative net margin of 71.70% and a positive return on equity of 13.53%. The business had revenue of $13.68 million for the quarter. As a group, sell-side analysts forecast that Dynex Capital will post 2.04 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th will be paid a dividend of $0.18 per share. This represents a $2.16 annualized dividend and a yield of 12.73%. The ex-dividend date is Tuesday, June 25th. Dynex Capital’s dividend payout ratio (DPR) is 98.63%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its position in shares of Dynex Capital by 268.5% in the 1st quarter. Parallel Advisors LLC now owns 5,240 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 3,818 shares during the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Dynex Capital in the 1st quarter worth about $33,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Dynex Capital in the 1st quarter worth about $1,350,000. Meeder Asset Management Inc. increased its position in shares of Dynex Capital by 130.0% in the 1st quarter. Meeder Asset Management Inc. now owns 8,943 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 5,054 shares during the last quarter. Finally, Quantamental Technologies LLC increased its position in shares of Dynex Capital by 97.9% in the 1st quarter. Quantamental Technologies LLC now owns 9,298 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 4,600 shares during the last quarter. 54.61% of the stock is currently owned by hedge funds and other institutional investors.
About Dynex Capital
Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.
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