Dynex Capital, Inc. (NYSE:DX) Receives $13.35 Average Price Target from Analysts

Shares of Dynex Capital, Inc. (NYSE:DX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $13.35.

DX has been the topic of several research analyst reports. JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a research report on Wednesday, August 28th. StockNews.com cut Dynex Capital from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st.

Dynex Capital Price Performance

Shares of Dynex Capital stock opened at $12.39 on Friday. The firm has a market cap of $982.13 million, a PE ratio of 9.83 and a beta of 1.32. The business has a 50-day moving average price of $12.46 and a 200 day moving average price of $12.29. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. Dynex Capital has a twelve month low of $11.11 and a twelve month high of $13.13.

Dynex Capital (NYSE:DX - Get Free Report) last announced its earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.39). Dynex Capital had a negative return on equity of 4.80% and a net margin of 28.83%. The business had revenue of $83.46 million for the quarter, compared to analyst estimates of $4.92 million. During the same period in the previous year, the company earned ($0.28) earnings per share. Sell-side analysts predict that Dynex Capital will post 1.03 earnings per share for the current fiscal year.

Dynex Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be issued a $0.15 dividend. This is an increase from Dynex Capital's previous monthly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 14.53%. Dynex Capital's dividend payout ratio is presently 123.81%.

Hedge Funds Weigh In On Dynex Capital

A number of institutional investors have recently added to or reduced their stakes in DX. PVG Asset Management Corp purchased a new position in Dynex Capital during the second quarter worth about $913,000. International Assets Investment Management LLC increased its holdings in shares of Dynex Capital by 1,152.5% during the 3rd quarter. International Assets Investment Management LLC now owns 406,532 shares of the real estate investment trust's stock worth $5,187,000 after buying an additional 374,074 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Dynex Capital by 7.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,092,808 shares of the real estate investment trust's stock valued at $26,704,000 after buying an additional 136,776 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in Dynex Capital in the second quarter valued at approximately $735,000. Finally, Wolverine Asset Management LLC grew its position in Dynex Capital by 933.1% in the third quarter. Wolverine Asset Management LLC now owns 225,302 shares of the real estate investment trust's stock worth $2,875,000 after acquiring an additional 203,494 shares during the period. Hedge funds and other institutional investors own 38.34% of the company's stock.

Dynex Capital Company Profile

Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.