Dynex Capital, Inc. (DX) Rating Lowered to Market Perform at JMP Securities
Dynex Capital, Inc. (NYSE:DX) was downgraded by stock analysts at JMP Securities from a “market outperform” rating to a “market perform” rating in a research note issued on Friday.
Dynex Capital (NYSE:DX) traded down 0.87% on Friday, hitting $6.82. The stock had a trading volume of 359,532 shares. The company’s 50 day moving average price is $6.94 and its 200-day moving average price is $7.02. The company’s market cap is $335.20 million. Dynex Capital has a 12-month low of $5.22 and a 12-month high of $7.61.
Dynex Capital (NYSE:DX) last issued its earnings results on Tuesday, November 1st. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Dynex Capital had a return on equity of 13.20% and a net margin of 6.95%. The company earned $15.07 million during the quarter, compared to analysts’ expectations of $16.01 million. During the same period in the previous year, the company earned $0.24 EPS. Dynex Capital’s quarterly revenue was down 25.5% on a year-over-year basis. Equities research analysts anticipate that Dynex Capital will post $0.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 12.32%. The ex-dividend date is Wednesday, December 28th. Dynex Capital’s dividend payout ratio is currently -1,399.77%.
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In related news, Director Thomas B. Akin sold 130,070 shares of the stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $7.00, for a total value of $910,490.00. Following the completion of the transaction, the director now owns 1,073,236 shares of the company’s stock, valued at $7,512,652. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DX. BlackRock Fund Advisors increased its position in shares of Dynex Capital by 16.3% in the second quarter. BlackRock Fund Advisors now owns 2,335,651 shares of the company’s stock worth $16,209,000 after buying an additional 327,887 shares in the last quarter. IFP Advisors Inc increased its position in shares of Dynex Capital by 2,275.8% in the second quarter. IFP Advisors Inc now owns 187,904 shares of the company’s stock worth $1,304,000 after buying an additional 179,995 shares in the last quarter. Morgan Stanley increased its position in shares of Dynex Capital by 71.7% in the third quarter. Morgan Stanley now owns 194,556 shares of the company’s stock worth $1,443,000 after buying an additional 81,224 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Dynex Capital by 205.8% in the third quarter. Citadel Advisors LLC now owns 106,485 shares of the company’s stock worth $790,000 after buying an additional 71,666 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Dynex Capital by 18.0% in the second quarter. Parametric Portfolio Associates LLC now owns 444,832 shares of the company’s stock worth $3,087,000 after buying an additional 67,958 shares in the last quarter. 44.20% of the stock is owned by hedge funds and other institutional investors.
About Dynex Capital
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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