Zacks Investment Research lowered shares of Dynex Capital (NYSE:DX) from a buy rating to a hold rating in a research report report published on Tuesday morning.
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 analysts also recently weighed in on DX. Ladenburg Thalmann Financial Services restated a buy rating and issued a $7.50 price objective on shares of Dynex Capital in a report on Tuesday, October 10th. Keefe, Bruyette & Woods restated a hold rating and issued a $7.25 price objective on shares of Dynex Capital in a report on Friday, October 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $7.58.
Dynex Capital (NYSE:DX) traded down $0.05 during trading hours on Tuesday, hitting $6.96. The stock had a trading volume of 527,700 shares, compared to its average volume of 496,350. Dynex Capital has a fifty-two week low of $6.58 and a fifty-two week high of $7.41. The company has a market capitalization of $460.16, a P/E ratio of 4.83 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.08 and a current ratio of 0.08.
Dynex Capital (NYSE:DX) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the 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 the consensus estimate of $15.36 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was down 12.3% compared to the same quarter last year. analysts forecast that Dynex Capital will post 0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.72 annualized dividend and a dividend yield of 10.34%. Dynex Capital’s payout ratio is currently 50.00%.
Several hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its holdings in Dynex Capital by 9.5% in the first quarter. Teachers Advisors LLC now owns 101,405 shares of the real estate investment trust’s stock worth $719,000 after purchasing an additional 8,826 shares in the last quarter. Bank of America Corp DE raised its holdings in Dynex Capital by 34.5% in the first quarter. Bank of America Corp DE now owns 15,598 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 4,002 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Dynex Capital by 0.5% in the second 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. Bank of New York Mellon Corp raised its holdings in Dynex Capital by 5.8% in the second quarter. Bank of New York Mellon Corp now owns 299,135 shares of the real estate investment trust’s stock worth $2,124,000 after purchasing an additional 16,515 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Dynex Capital by 16.0% in the second quarter. Prudential Financial Inc. now owns 672,736 shares of the real estate investment trust’s stock worth $4,776,000 after purchasing an additional 93,000 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Dynex Capital (DX) Downgraded by Zacks Investment Research to “Hold”” was posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://transcriptdaily.com/2018/01/03/dynex-capital-dx-downgraded-by-zacks-investment-research-to-hold.html.
About Dynex Capital
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.
Receive News & Ratings for Dynex Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dynex Capital and related companies with MarketBeat.com's FREE daily email newsletter.