Zacks Investment Research downgraded shares of Dynex Capital (NYSE:DX) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Dynex Capital, Inc. and its Subsidiaries and Affiliates, is a mortgage and consumer finance company which uses its loan production operations to create investments for its portfolio. Currently, the Company’s primary production operations include the origination of mortgage loans secured by multi-family properties and the origination of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand into other financial products in the future. “
A number of other brokerages have also commented on DX. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $7.25 price objective on shares of Dynex Capital in a research report on Friday, October 6th. BidaskClub raised shares of Dynex Capital from a hold rating to a buy rating in a research report on Saturday, August 26th. Finally, Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $7.50 price objective on shares of Dynex Capital in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $7.38.
Dynex Capital (NYSE:DX) traded up $0.02 during trading on Tuesday, reaching $7.15. 224,109 shares of the company’s stock were exchanged, compared to its average volume of 302,985. The firm has a market cap of $379.45, a price-to-earnings ratio of 9.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.08 and a current ratio of 0.08. Dynex Capital has a 52-week low of $6.58 and a 52-week high of $7.41.
Dynex Capital (NYSE:DX) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $13.21 million during the quarter, compared to analyst estimates of $15.36 million. Dynex Capital had a net margin of 86.86% and a return on equity of 11.08%. The business’s revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 EPS. analysts forecast that Dynex Capital will post 0.72 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Dynex Capital by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,120,969 shares of the real estate investment trust’s stock worth $15,059,000 after purchasing an additional 60,328 shares in the last quarter. LSV Asset Management raised its position in Dynex Capital by 4.4% in the second quarter. LSV Asset Management now owns 1,544,592 shares of the real estate investment trust’s stock worth $10,966,000 after purchasing an additional 64,994 shares in the last quarter. State Street Corp raised its position in Dynex Capital by 3.6% in the second quarter. State Street Corp now owns 1,180,035 shares of the real estate investment trust’s stock worth $8,375,000 after purchasing an additional 41,475 shares in the last quarter. Prudential Financial Inc. raised its position in Dynex Capital by 2.2% in the third quarter. Prudential Financial Inc. now owns 687,286 shares of the real estate investment trust’s stock worth $4,997,000 after purchasing an additional 14,550 shares in the last quarter. Finally, Northern Trust Corp raised its position in Dynex Capital by 6.2% in the second quarter. Northern Trust Corp now owns 619,365 shares of the real estate investment trust’s stock worth $4,398,000 after purchasing an additional 35,886 shares in the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.
Dynex Capital Company Profile
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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