Dynex Capital (NYSE:DX) Cut to Sell at Zacks Investment Research

Dynex Capital (NYSE:DXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

Other analysts have also recently issued research reports about the company. StockNews.com started coverage on Dynex Capital in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Jonestrading lowered their price target on Dynex Capital from $20.00 to $19.00 in a report on Thursday, April 28th.

DX traded up $0.07 during trading on Tuesday, reaching $16.18. 540,507 shares of the company were exchanged, compared to its average volume of 768,093. The company’s 50-day moving average is $16.04 and its two-hundred day moving average is $16.26. The company has a market cap of $597.98 million, a price-to-earnings ratio of 6.86 and a beta of 1.08. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.04. Dynex Capital has a 12-month low of $14.54 and a 12-month high of $20.51.

Dynex Capital (NYSE:DXGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Dynex Capital had a return on equity of 9.69% and a net margin of 159.69%. During the same period in the previous year, the firm posted $0.46 EPS. Equities analysts forecast that Dynex Capital will post 1.72 earnings per share for the current year.

In other news, CEO Byron L. Boston acquired 2,000 shares of Dynex Capital stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $32,000.00. Following the transaction, the chief executive officer now owns 394,951 shares of the company’s stock, valued at $6,319,216. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in DX. FMR LLC increased its position in shares of Dynex Capital by 234.4% during the 1st quarter. FMR LLC now owns 4,726,214 shares of the real estate investment trust’s stock valued at $28,782,000 after purchasing an additional 3,313,061 shares during the last quarter. Invesco Ltd. grew its position in Dynex Capital by 1,083.1% during the 4th quarter. Invesco Ltd. now owns 942,775 shares of the real estate investment trust’s stock worth $15,753,000 after acquiring an additional 863,091 shares during the last quarter. Leeward Investments LLC MA bought a new position in Dynex Capital during the 1st quarter worth approximately $7,191,000. BlackRock Inc. grew its position in Dynex Capital by 11.8% during the 3rd quarter. BlackRock Inc. now owns 3,225,967 shares of the real estate investment trust’s stock worth $55,744,000 after acquiring an additional 341,472 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Dynex Capital in the 4th quarter worth approximately $3,914,000. Hedge funds and other institutional investors own 39.45% of the company’s stock.

About Dynex Capital (Get Rating)

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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