Keefe, Bruyette & Woods Cuts Dynex Capital (NYSE:DX) Price Target to $12.25

Dynex Capital (NYSE:DX) had its price objective trimmed by Keefe, Bruyette & Woods from $13.50 to $12.25 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

DX has been the subject of a number of other research reports. JMP Securities restated a market perform rating on shares of Dynex Capital in a research note on Thursday, April 18th. Compass Point initiated coverage on Dynex Capital in a research report on Friday, April 12th. They set a buy rating and a $14.50 price target on the stock. StockNews.com raised Dynex Capital to a sell rating in a research report on Tuesday, December 26th. Finally, Jonestrading reaffirmed a buy rating and set a $14.00 price target on shares of Dynex Capital in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $13.31.

Dynex Capital Trading Up 2.3 %

Shares of Dynex Capital stock opened at $11.93 on Tuesday. The stock has a fifty day simple moving average of $12.16 and a 200 day simple moving average of $11.94. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.56. The company has a market capitalization of $705.13 million, a P/E ratio of 10.19 and a beta of 1.33. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.06.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, January 29th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). The company had revenue of $71.19 million for the quarter. Dynex Capital had a negative return on equity of 7.51% and a net margin of 30.50%.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 23rd will be issued a $0.13 dividend. The ex-dividend date is Monday, April 22nd. This represents a $1.56 annualized dividend and a dividend yield of 13.08%. Dynex Capital’s payout ratio is currently 133.33%.

Hedge Funds Weigh In On Dynex Capital

A number of large investors have recently modified their holdings of the company. Kovack Advisors Inc. raised its holdings in shares of Dynex Capital by 7.2% during the 1st quarter. Kovack Advisors Inc. now owns 16,978 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,135 shares in the last quarter. Cambridge Advisors Inc. raised its holdings in shares of Dynex Capital by 5.9% during the 1st quarter. Cambridge Advisors Inc. now owns 18,000 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 1,000 shares in the last quarter. Westend Capital Management LLC purchased a new position in shares of Dynex Capital during the 1st quarter valued at about $35,000. Tower Research Capital LLC TRC raised its holdings in shares of Dynex Capital by 14.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,378 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,044 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Dynex Capital during the 4th quarter valued at about $903,000. 38.34% of the stock is 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.