Dynex Capital’s (DX) “Buy” Rating Reaffirmed at Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services reissued their buy rating on shares of Dynex Capital, Inc. (NYSE:DX) in a research note released on Tuesday morning. The brokerage currently has a $7.50 price objective on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. BidaskClub downgraded Dynex Capital from a buy rating to a hold rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Dynex Capital from a sell rating to a hold rating in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $7.25 price objective on shares of Dynex Capital in a research report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $7.38.

Shares of Dynex Capital (NYSE:DX) opened at 7.20 on Tuesday. Dynex Capital has a 52-week low of $6.49 and a 52-week high of $7.41. The firm has a market capitalization of $354.48 million, a price-to-earnings ratio of 4.68 and a beta of 0.84. The company’s 50 day moving average price is $7.16 and its 200 day moving average price is $7.02.

Dynex Capital (NYSE:DX) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $16.10 million for the quarter, compared to analyst estimates of $14.26 million. Dynex Capital had a return on equity of 11.04% and a net margin of 93.54%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 EPS. Analysts forecast that Dynex Capital will post $0.72 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 3rd will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.00%. Dynex Capital’s dividend payout ratio is currently 46.75%.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Dynex Capital by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,060,641 shares of the real estate investment trust’s stock worth $14,610,000 after buying an additional 83,438 shares during the period. Geode Capital Management LLC lifted its position in shares of Dynex Capital by 9.8% during the 1st quarter. Geode Capital Management LLC now owns 439,727 shares of the real estate investment trust’s stock worth $3,116,000 after buying an additional 39,237 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Dynex Capital by 4.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 182,482 shares of the real estate investment trust’s stock worth $1,294,000 after buying an additional 8,550 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Dynex Capital by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 282,620 shares of the real estate investment trust’s stock worth $2,004,000 after buying an additional 15,051 shares during the period. Finally, KBC Group NV lifted its position in shares of Dynex Capital by 16.6% during the 1st quarter. KBC Group NV now owns 76,890 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 10,970 shares during the period. Institutional investors own 44.41% of the company’s stock.

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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