Dynex Capital (NYSE:DX) Price Target Raised to $15.25
by Mitch Edgeman · The Markets DailyDynex Capital (NYSE:DX – Free Report) had its target price lifted by Jones Trading from $14.00 to $15.25 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.
DX has been the subject of a number of other reports. UBS Group set a $13.25 price objective on Dynex Capital and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Dynex Capital from $14.00 to $14.50 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.33.
Get Our Latest Analysis on Dynex Capital
Dynex Capital Price Performance
Shares of Dynex Capital stock opened at $14.56 on Tuesday. The stock has a market cap of $2.54 billion, a P/E ratio of 7.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.19 and a current ratio of 1.19. The stock’s fifty day moving average is $14.02 and its 200 day moving average is $13.23. Dynex Capital has a one year low of $10.79 and a one year high of $14.93.
Dynex Capital (NYSE:DX – Get Free Report) last released its quarterly earnings results on Monday, January 26th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.26). Dynex Capital had a net margin of 59.80% and a return on equity of 7.72%. The company had revenue of $202.00 million for the quarter, compared to the consensus estimate of $59.41 million. Sell-side analysts anticipate that Dynex Capital will post 1.94 earnings per share for the current year.
Dynex Capital Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, January 21st will be issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 14.0%. The ex-dividend date of this dividend is Wednesday, January 21st. Dynex Capital’s dividend payout ratio (DPR) is 100.00%.
Hedge Funds Weigh In On Dynex Capital
Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in Dynex Capital by 54.6% in the 1st quarter. AQR Capital Management LLC now owns 103,183 shares of the real estate investment trust’s stock valued at $1,343,000 after acquiring an additional 36,455 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Dynex Capital by 86.7% during the first quarter. Goldman Sachs Group Inc. now owns 804,419 shares of the real estate investment trust’s stock valued at $10,474,000 after purchasing an additional 373,610 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Dynex Capital in the second quarter worth about $300,000. KLP Kapitalforvaltning AS lifted its position in shares of Dynex Capital by 45.3% in the second quarter. KLP Kapitalforvaltning AS now owns 19,900 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 6,200 shares in the last quarter. Finally, PDS Planning Inc boosted its stake in Dynex Capital by 22.1% during the second quarter. PDS Planning Inc now owns 31,082 shares of the real estate investment trust’s stock valued at $380,000 after buying an additional 5,635 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.
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.