Dynex Capital (NYSE:DX) Announces Quarterly Earnings Results

Dynex Capital (NYSE:DX) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36, Zacks reports. Dynex Capital had a return on equity of 7.86% and a net margin of 34.75%.

Dynex Capital Stock Performance

DX stock opened at $13.26 on Monday. The company has a market capitalization of $2.85 billion, a P/E ratio of 7.88 and a beta of 0.95. Dynex Capital has a 52-week low of $11.82 and a 52-week high of $14.93. The business has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $13.44.

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be issued a $0.17 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date is Thursday, July 23rd. Dynex Capital’s dividend payout ratio is currently 120.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DX. Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. BTIG Research set a $14.50 target price on Dynex Capital in a research note on Wednesday, June 17th. Finally, UBS Group reiterated a “neutral” rating and issued a $14.50 price target (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.69.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DX. AQR Capital Management LLC increased its holdings in shares of Dynex Capital by 54.6% in the first quarter. AQR Capital Management LLC now owns 103,183 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 36,455 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Dynex Capital by 86.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 804,419 shares of the real estate investment trust’s stock valued at $10,474,000 after acquiring an additional 373,610 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Dynex Capital by 51.5% in the second quarter. Cetera Investment Advisers now owns 25,149 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 8,549 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Dynex Capital by 241.6% in the second quarter. JPMorgan Chase & Co. now owns 183,247 shares of the real estate investment trust’s stock valued at $2,239,000 after purchasing an additional 129,601 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Dynex Capital by 36.0% during the second quarter. New York State Common Retirement Fund now owns 34,774 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 9,200 shares during the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

About Dynex Capital

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.