Dynex Capital (NYSE:DX) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Dynex Capital, Inc. (NYSE:DX - Get Free Report) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 1,894,243 shares were traded during trading, a decline of 15% from the previous session's volume of 2,232,564 shares.The stock last traded at $11.38 and had previously closed at $11.67.

The real estate investment trust reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $17.13 million for the quarter, compared to the consensus estimate of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%.

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 16.95%. The ex-dividend date is Wednesday, April 23rd. Dynex Capital's dividend payout ratio is currently 138.78%.

Analysts Set New Price Targets

Several research firms recently commented on DX. Jones Trading reduced their price target on shares of Dynex Capital from $13.25 to $12.50 and set a "buy" rating on the stock in a research note on Monday. StockNews.com lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday. JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on Dynex Capital from $13.25 to $12.50 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $12.83.

Institutional Investors Weigh In On Dynex Capital

Several large investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in shares of Dynex Capital by 838.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 2,223 shares during the last quarter. Westend Capital Management LLC lifted its stake in Dynex Capital by 37.0% during the 4th quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 919 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Dynex Capital in the fourth quarter valued at $43,000. PNC Financial Services Group Inc. grew its holdings in Dynex Capital by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 1,700 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Dynex Capital by 567.1% during the 4th quarter. US Bancorp DE now owns 3,796 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 3,227 shares in the last quarter. Institutional investors own 38.34% of the company's stock.

Dynex Capital Stock Performance

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. The business's 50-day simple moving average is $13.09 and its two-hundred day simple moving average is $12.79. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 8.19 and a beta of 1.14.

About Dynex Capital

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.