Zacks Investment Research lowered shares of Dynex Capital (NYSE:DX) from a buy rating to a hold rating in a report issued on Tuesday morning.
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. “
Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Dynex Capital from a hold rating to a buy rating in a research note on Saturday, August 26th. Ladenburg Thalmann Financial Services restated a buy rating and set a $7.50 price objective on shares of Dynex Capital in a research note on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $7.25 price objective on shares of Dynex Capital in a research note on Friday, October 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $7.38.
Dynex Capital (NYSE:DX) traded down $0.03 during trading on Tuesday, hitting $7.15. 364,300 shares of the stock traded hands, compared to its average volume of 332,219. The firm has a market cap of $382.11, a price-to-earnings ratio of 9.84 and a beta of 0.81. Dynex Capital has a one year low of $6.58 and a one year high of $7.41. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.01.
Dynex Capital (NYSE:DX) last released its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. sell-side analysts anticipate that Dynex Capital will post 0.72 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in DX. Alliancebernstein L.P. grew its stake in Dynex Capital by 10.0% in the 1st quarter. Alliancebernstein L.P. now owns 28,550 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 2,600 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Dynex Capital by 9.5% in the 1st quarter. Teachers Advisors LLC now owns 101,405 shares of the real estate investment trust’s stock valued at $719,000 after purchasing an additional 8,826 shares during the period. Vanguard Group Inc. boosted its holdings in Dynex Capital by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,060,641 shares of the real estate investment trust’s stock valued at $14,610,000 after purchasing an additional 83,438 shares during the period. Geode Capital Management LLC boosted its holdings in Dynex Capital by 9.8% in the 1st quarter. Geode Capital Management LLC now owns 439,727 shares of the real estate investment trust’s stock valued at $3,116,000 after purchasing an additional 39,237 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Dynex Capital by 30.2% in the 1st quarter. Renaissance Technologies LLC now owns 472,800 shares of the real estate investment trust’s stock valued at $3,352,000 after purchasing an additional 109,778 shares during the period. Institutional investors and hedge funds own 44.70% of the company’s stock.
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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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