Zacks Investment Research upgraded shares of Dynex Capital (NYSE:DX) from a hold rating to a buy rating in a report released on Tuesday morning. The firm currently has $8.00 price objective on the real estate investment trust’s stock.
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 brokerages have also recently weighed in on DX. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $7.25 price target on shares of Dynex Capital in a research report on Friday, October 6th. BidaskClub raised shares of Dynex Capital from a hold rating to a buy rating in a research report on Saturday, August 26th. Finally, Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $7.50 price target on shares of Dynex Capital in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $7.58.
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, topping analysts’ consensus estimates of $0.18 by $0.01. Dynex Capital had a net margin of 86.86% and a return on equity of 11.08%. The firm had revenue of $13.21 million during the quarter, compared to analysts’ expectations of $15.36 million. During the same period in the prior year, the company earned $0.20 EPS. The firm’s revenue was down 12.3% on a year-over-year basis. research analysts predict that Dynex Capital will post 0.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 dividend on an annualized basis and a yield of 9.92%. Dynex Capital’s dividend payout ratio (DPR) is 50.00%.
A number of institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its position in Dynex Capital by 0.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,181 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 93 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Dynex Capital by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,432 shares of the real estate investment trust’s stock valued at $1,303,000 after buying an additional 950 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Dynex Capital by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,822 shares of the real estate investment trust’s stock valued at $297,000 after buying an additional 1,019 shares during the last quarter. Hancock Holding Co. boosted its position in Dynex Capital by 4.4% in the 2nd quarter. Hancock Holding Co. now owns 26,708 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 1,115 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its position in Dynex Capital by 10.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 20,870 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 1,970 shares during the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.
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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