Dynex Capital (NYSE:DX) Hits New 12-Month High – Here’s Why

Dynex Capital, Inc. (NYSE:DX)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $14.57 and last traded at $14.5560, with a volume of 3956710 shares trading hands. The stock had previously closed at $14.26.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DX. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their price objective on shares of Dynex Capital from $14.00 to $14.50 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. UBS Group set a $13.25 target price on shares of Dynex Capital and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Finally, Jones Trading restated a “buy” rating and issued a $14.00 price target on shares of Dynex Capital in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.92.

Dynex Capital Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.19 and a quick ratio of 1.19. The business’s fifty day moving average price is $13.81 and its 200-day moving average price is $13.09. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 9.87 and a beta of 0.98.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, October 20th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.19). Dynex Capital had a net margin of 41.53% and a return on equity of 6.65%. The company had revenue of $421.91 million for the quarter, compared to analysts’ expectations of $32.06 million. On average, research analysts forecast that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Dynex Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Wednesday, January 21st will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Wednesday, January 21st. Dynex Capital’s dividend payout ratio (DPR) is presently 137.84%.

Institutional Investors Weigh In On Dynex Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Dynex Capital by 98.5% in the 4th quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 928 shares during the last quarter. Triumph Capital Management bought a new stake in Dynex Capital during the third quarter worth $29,000. Private Wealth Management Group LLC bought a new stake in Dynex Capital during the third quarter worth $36,000. Transce3nd LLC bought a new position in Dynex Capital in the 2nd quarter valued at $49,000. Finally, Huntington National Bank grew its stake in Dynex Capital by 478,900.0% in the 3rd quarter. Huntington National Bank now owns 4,790 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 4,789 shares during the period. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Company Profile

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.