Dynex Capital (NYSE:DX) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Dynex Capital, Inc. (NYSE:DX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.90 and traded as high as $13.97. Dynex Capital shares last traded at $13.9850, with a volume of 1,592,745 shares.

Wall Street Analysts Forecast Growth

DX has been the subject of several analyst reports. UBS Group set a $13.25 price objective on Dynex Capital and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a report on Monday. Jones Trading restated a “buy” rating and set a $14.00 price target on shares of Dynex Capital in a research note on Monday, October 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Dynex Capital from $14.00 to $14.50 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.92.

Dynex Capital Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $13.62 and a two-hundred day simple moving average of $12.90. The company has a market cap of $2.05 billion, a PE ratio of 9.45 and a beta of 0.97.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, October 20th. The real estate investment trust reported $0.25 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 business had revenue of $421.91 million during the quarter, compared to analyst estimates of $32.06 million. On average, equities analysts predict that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, January 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a c) dividend on an annualized basis and a yield of 14.6%. Dynex Capital’s dividend payout ratio (DPR) is 137.84%.

Insider Buying and Selling at Dynex Capital

In related news, CFO Robert S. Colligan purchased 4,200 shares of the stock in a transaction dated Friday, September 26th. The shares were acquired at an average cost of $12.12 per share, with a total value of $50,904.00. Following the purchase, the chief financial officer directly owned 120,857 shares in the company, valued at $1,464,786.84. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Smriti Laxman Popenoe purchased 4,260 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $12.16 per share, with a total value of $51,801.60. Following the acquisition, the chief executive officer directly owned 407,338 shares in the company, valued at approximately $4,953,230.08. This represents a 1.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dynex Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its stake in shares of Dynex Capital by 130,013.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,144,836 shares of the real estate investment trust’s stock worth $242,772,000 after acquiring an additional 19,130,122 shares in the last quarter. Millennium Management LLC increased its stake in Dynex Capital by 311.4% in the 1st quarter. Millennium Management LLC now owns 3,276,781 shares of the real estate investment trust’s stock valued at $42,664,000 after purchasing an additional 2,480,330 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dynex Capital by 21.3% during the third quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust’s stock worth $92,345,000 after purchasing an additional 1,318,236 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Dynex Capital by 184.2% during the third quarter. Balyasny Asset Management L.P. now owns 1,137,900 shares of the real estate investment trust’s stock worth $13,985,000 after purchasing an additional 737,561 shares in the last quarter. Finally, EMG Holdings L.P. purchased a new stake in Dynex Capital during the third quarter worth $8,550,000. 38.34% of the stock is currently owned by institutional investors and hedge funds.

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.