Dynex Capital (NYSE:DX) Sets New 12-Month High - Time to Buy?

Dynex Capital, Inc. (NYSE:DX - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $13.85 and last traded at $13.70, with a volume of 2816291 shares changing hands. The stock had previously closed at $13.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DX shares. StockNews.com upgraded shares of Dynex Capital from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. JMP Securities reissued a "market perform" rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Dynex Capital has an average rating of "Moderate Buy" and an average price target of $13.56.

Dynex Capital Price Performance

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.57 and a beta of 1.31. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The company's 50 day simple moving average is $12.87 and its 200-day simple moving average is $12.59.

Dynex Capital (NYSE:DX - Get Free Report) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. On average, equities research analysts predict that Dynex Capital, Inc. will post 1.94 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 Tuesday, April 1st. Stockholders of record on Monday, March 24th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.50%. This is an increase from Dynex Capital's previous monthly dividend of $0.15. Dynex Capital's payout ratio is currently 122.45%.

Hedge Funds Weigh In On Dynex Capital

Several large investors have recently added to or reduced their stakes in the business. Creative Planning acquired a new position in Dynex Capital in the third quarter valued at $175,000. Signaturefd LLC lifted its stake in shares of Dynex Capital by 305.9% in the 3rd quarter. Signaturefd LLC now owns 2,204 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 1,661 shares in the last quarter. International Assets Investment Management LLC grew 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 purchasing an additional 374,074 shares during the period. Gladstone Institutional Advisory LLC increased its position in Dynex Capital by 35.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 15,555 shares of the real estate investment trust's stock worth $198,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Dynex Capital by 0.8% in the third quarter. Van ECK Associates Corp now owns 724,876 shares of the real estate investment trust's stock valued at $9,126,000 after buying an additional 5,725 shares during the period. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

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.