Dynex Capital (NYSE:DX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other research firms have also recently commented on DX. BidaskClub raised Dynex Capital from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $7.25 target price on shares of Dynex Capital in a research note on Friday, October 6th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $7.50 target price on shares of Dynex Capital in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.38.
Shares of Dynex Capital (NYSE:DX) opened at $7.16 on Tuesday. Dynex Capital has a 1 year low of $6.58 and a 1 year high of $7.41. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $380.52, a price-to-earnings ratio of 9.79 and a beta of 0.81.
Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Dynex Capital had a return on equity of 11.08% and a net margin of 86.86%. The business had revenue of $13.21 million during the quarter, compared to analysts’ expectations of $15.36 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was down 12.3% on a year-over-year basis. equities research analysts expect that Dynex Capital will post 0.72 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. grew its stake in Dynex Capital by 0.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,181 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 93 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Dynex Capital by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,432 shares of the real estate investment trust’s stock worth $1,303,000 after purchasing an additional 950 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Dynex Capital by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,822 shares of the real estate investment trust’s stock worth $297,000 after purchasing an additional 1,019 shares in the last quarter. Hancock Holding Co. grew its stake in Dynex Capital by 4.4% during the 2nd quarter. Hancock Holding Co. now owns 26,708 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its stake in Dynex Capital by 10.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 20,870 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 1,970 shares in the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.
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Dynex Capital Company Profile
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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