Zacks Investment Research upgraded shares of Dynex Capital (NYSE:DX) from a hold rating to a strong-buy rating in a report released on Thursday, Zacks.com reports. The firm currently has $22.00 price target on the real estate investment trust’s stock.

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. “

DX has been the topic of a number of other research reports. ValuEngine downgraded Dynex Capital from a strong-buy rating to a buy rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods upgraded Dynex Capital from a market perform rating to an outperform rating and upped their target price for the company from $15.00 to $17.50 in a report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $19.68.

DX stock traded up $0.12 during mid-day trading on Thursday, reaching $19.19. The company’s stock had a trading volume of 255,733 shares, compared to its average volume of 243,432. The stock has a market cap of $439.42 million, a PE ratio of -2.82 and a beta of 0.65. Dynex Capital has a fifty-two week low of $13.84 and a fifty-two week high of $19.27. The company’s 50 day moving average is $17.80 and its two-hundred day moving average is $16.20.

Dynex Capital (NYSE:DX) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20. Dynex Capital had a positive return on equity of 11.92% and a negative net margin of 91.69%. The business had revenue of $16.20 million for the quarter. On average, research analysts forecast that Dynex Capital will post 1.84 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 24th were given a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend was Thursday, January 23rd. Dynex Capital’s payout ratio is currently 86.12%.

Hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Dynex Capital by 234.4% during the 1st quarter. FMR LLC now owns 4,726,214 shares of the real estate investment trust’s stock worth $28,782,000 after buying an additional 3,313,061 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Dynex Capital during the 3rd quarter valued at approximately $3,435,000. Nuveen Asset Management LLC acquired a new position in Dynex Capital in the second quarter valued at approximately $2,191,000. UBS Group AG lifted its holdings in Dynex Capital by 2,519.7% in the fourth quarter. UBS Group AG now owns 103,295 shares of the real estate investment trust’s stock valued at $1,750,000 after acquiring an additional 99,352 shares during the last quarter. Finally, Vestcor Investment Management Corp acquired a new position in Dynex Capital in the fourth quarter valued at approximately $1,608,000. 56.35% of the stock is currently owned by institutional investors.

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.

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