Dynex Capital (NYSE:DX) Price Target Raised to $13.00 at Keefe, Bruyette & Woods

by · The Cerbat Gem

Dynex Capital (NYSE:DX – Free Report) had its price target upped by Keefe, Bruyette & Woods from $12.50 to $13.00 in a research note released on Thursday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Jones Trading decreased their price target on Dynex Capital from $13.25 to $12.50 and set a “buy” rating for the company in a research note on Monday, April 21st. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.67.

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Dynex Capital Stock Performance

Dynex Capital stock opened at $12.74 on Thursday. The stock has a 50-day moving average of $12.29 and a two-hundred day moving average of $12.72. Dynex Capital has a one year low of $10.79 and a one year high of $14.52. The stock has a market cap of $1.37 billion, a PE ratio of 16.55 and a beta of 0.92.

Dynex Capital (NYSE:DX – Get Free Report) last released its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Dynex Capital had a return on equity of 1.59% and a net margin of 20.61%. The company had revenue of $17.13 million during the quarter, compared to analysts’ expectations of $11.41 million. As a group, sell-side analysts predict that Dynex Capital will post 1.94 EPS for the current fiscal year.

Dynex Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 23rd were paid a $0.17 dividend. This represents a $2.04 annualized dividend and a dividend yield of 16.01%. The ex-dividend date was Monday, June 23rd. Dynex Capital’s payout ratio is 264.94%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Dynex Capital by 838.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 2,223 shares during the last quarter. Amalgamated Bank raised its position in Dynex Capital by 50.5% during the first quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 973 shares in the last quarter. CWM LLC raised its position in Dynex Capital by 271.9% during the first quarter. CWM LLC now owns 3,154 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 2,306 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Dynex Capital during the fourth quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. raised its position in Dynex Capital by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,700 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Dynex Capital Company Profile

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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.

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