Dynex Capital (NYSE:DX) Sets New 52-Week Low After Analyst Downgrade

Dynex Capital, Inc. (NYSE:DX - Get Free Report)'s share price reached a new 52-week low on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $13.25 to $12.50. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Dynex Capital traded as low as $11.09 and last traded at $11.24, with a volume of 398013 shares trading hands. The stock had previously closed at $11.53.

A number of other research firms have also weighed in on DX. JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a research note on Thursday, January 23rd. StockNews.com upgraded Dynex Capital from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Dynex Capital has an average rating of "Moderate Buy" and a consensus target price of $13.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dynex Capital by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust's stock valued at $54,615,000 after buying an additional 260,798 shares during the period. Geode Capital Management LLC boosted its position in shares of Dynex Capital by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,838,020 shares of the real estate investment trust's stock valued at $23,256,000 after acquiring an additional 136,280 shares during the last quarter. State Street Corp grew its holdings in shares of Dynex Capital by 2.9% during the third quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust's stock worth $19,977,000 after purchasing an additional 44,302 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Dynex Capital by 6.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,427,121 shares of the real estate investment trust's stock worth $18,053,000 after purchasing an additional 81,510 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Dynex Capital by 9.4% in the fourth quarter. Invesco Ltd. now owns 1,270,019 shares of the real estate investment trust's stock valued at $16,066,000 after purchasing an additional 108,747 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

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Dynex Capital Trading Up 1.4 %

The firm's 50-day simple moving average is $13.40 and its 200-day simple moving average is $12.84. The firm has a market capitalization of $1.11 billion, a P/E ratio of 7.86 and a beta of 1.14. 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 (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 the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Analysts anticipate that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Dynex Capital Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 24th were issued a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 17.66%. This is a boost from Dynex Capital's previous monthly dividend of $0.15. The ex-dividend date was Monday, March 24th. Dynex Capital's dividend payout ratio (DPR) is currently 138.78%.

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.