Zacks Investment Research Lowers Dynex Capital (DX) to Hold

Zacks Investment Research lowered shares of Dynex Capital (NYSE:DX) from a buy rating to a hold rating in a report published on Tuesday.

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. “

A number of other equities analysts have also weighed in on DX. Keefe, Bruyette & Woods reiterated a hold rating and issued a $7.25 price target on shares of Dynex Capital in a report on Friday, October 6th. Ladenburg Thalmann Financial Services reiterated a buy rating and issued a $7.50 price target on shares of Dynex Capital in a report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $7.58.

Shares of Dynex Capital (NYSE DX) traded up $0.04 on Tuesday, hitting $6.93. 334,200 shares of the company’s stock were exchanged, compared to its average volume of 416,000. The firm has a market cap of $452.28, a price-to-earnings ratio of 4.81 and a beta of 0.81. Dynex Capital has a 52 week low of $6.58 and a 52 week 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 announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $13.21 million for the quarter, compared to analyst estimates of $15.36 million. Dynex Capital had a net margin of 86.86% and a return on equity of 11.08%. Dynex Capital’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. equities research analysts anticipate that Dynex Capital will post 0.72 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.39%. Dynex Capital’s dividend payout ratio (DPR) is presently 50.00%.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 60,328 shares during the period. LSV Asset Management raised its stake in shares of Dynex Capital by 4.4% in the 2nd quarter. LSV Asset Management now owns 1,544,592 shares of the real estate investment trust’s stock valued at $10,966,000 after acquiring an additional 64,994 shares during the period. State Street Corp raised its stake 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 acquiring an additional 41,475 shares during the period. Prudential Financial Inc. raised its stake in shares of Dynex Capital by 2.2% in the 3rd quarter. Prudential Financial Inc. now owns 687,286 shares of the real estate investment trust’s stock valued at $4,997,000 after acquiring an additional 14,550 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Dynex Capital by 6.2% in the 2nd quarter. Northern Trust Corp now owns 619,365 shares of the real estate investment trust’s stock valued at $4,398,000 after acquiring an additional 35,886 shares during the period. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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About Dynex Capital

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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