Dynex Capital (NYSE:DX) Sets New 1-Year High – Here’s Why

Dynex Capital, Inc. (NYSE:DX) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $13.44 and last traded at $13.39, with a volume of 418455 shares. The stock had previously closed at $13.34.

Analyst Upgrades and Downgrades

DX has been the subject of several research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.56.

Dynex Capital Stock Up 0.3 %

The company has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $12.50. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.06 billion, a P/E ratio of 9.11 and a beta of 1.31.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%. On average, equities analysts anticipate that Dynex Capital, Inc. will post 1.94 earnings per share for the current year.

Dynex Capital Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were issued a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 13.45%. The ex-dividend date of this dividend was Thursday, January 23rd. Dynex Capital’s dividend payout ratio is presently 122.45%.

Hedge Funds Weigh In On Dynex Capital

Several large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in shares of Dynex Capital by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,132 shares of the real estate investment trust’s stock valued at $8,249,000 after acquiring an additional 42,012 shares in the last quarter. US Bancorp DE lifted its position in shares of Dynex Capital by 567.1% in the fourth quarter. US Bancorp DE now owns 3,796 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 3,227 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Dynex Capital in the fourth quarter worth about $1,150,000. Kovack Advisors Inc. lifted its position in shares of Dynex Capital by 11.6% in the fourth quarter. Kovack Advisors Inc. now owns 19,585 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 2,043 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Dynex Capital by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 194,867 shares of the real estate investment trust’s stock worth $2,465,000 after buying an additional 14,548 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

About Dynex Capital

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.