Dynex Capital Inc. (DX) Hits New 1-Year High at $7.40
Shares of Dynex Capital Inc. (NYSE:DX) hit a new 52-week high during trading on Friday . The stock traded as high as $7.40 and last traded at $7.39, with a volume of 136,568 shares changing hands. The stock had previously closed at $7.24.
Several brokerages have recently commented on DX. Zacks Investment Research upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Monday, April 18th. Ladenburg Thalmann downgraded shares of Dynex Capital from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Thursday, April 28th. Finally, TheStreet downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Dynex Capital presently has an average rating of “Hold” and an average price target of $7.46.
The firm’s market capitalization is $363.18 million. The firm has a 50-day moving average price of $6.84 and a 200 day moving average price of $6.56.
Dynex Capital (NYSE:DX) last announced its earnings results on Wednesday, July 27th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. The firm had revenue of $16.72 million for the quarter, compared to analysts’ expectations of $16.56 million. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS. Equities research analysts expect that Dynex Capital Inc. will post $1.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Wednesday, July 6th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date was Friday, July 1st.
In related news, Director Barry Igdaloff sold 8,911 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $6.63, for a total value of $59,079.93. Following the transaction, the director now owns 319,848 shares in the company, valued at approximately $2,120,592.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas B. Akin sold 70,503 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $6.98, for a total transaction of $492,110.94. Following the completion of the transaction, the director now owns 1,308,472 shares in the company, valued at approximately $9,133,134.56. The disclosure for this sale can be found here.
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.