Brokerages Set Dynex Capital, Inc. (NYSE:DX) Price Target at $13.33

Shares of Dynex Capital, Inc. (NYSE:DX) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.63.

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Dynex Capital to a “sell” rating in a research note on Tuesday, December 26th. Jonestrading raised their target price on shares of Dynex Capital from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Compass Point started coverage on shares of Dynex Capital in a report on Friday. They set a “buy” rating and a $14.50 price target on the stock.

Dynex Capital Trading Up 0.5 %

Shares of NYSE:DX opened at $11.79 on Friday. The company has a market capitalization of $697.14 million, a P/E ratio of -42.11 and a beta of 1.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.16 and a current ratio of 1.16. Dynex Capital has a 52-week low of $9.57 and a 52-week high of $13.56. The company has a 50-day simple moving average of $12.26 and a 200 day simple moving average of $11.94.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, January 29th. The real estate investment trust reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Dynex Capital had a negative return on equity of 6.04% and a negative net margin of 2.95%. The business had revenue of $71.19 million for the quarter.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a dividend yield of 13.23%. The ex-dividend date is Monday, April 22nd. Dynex Capital’s payout ratio is presently -557.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DX. Bank of New York Mellon Corp increased its holdings in shares of Dynex Capital by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 129,903 shares of the real estate investment trust’s stock worth $2,105,000 after buying an additional 4,562 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Dynex Capital by 32.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,130 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 4,724 shares during the period. PNC Financial Services Group Inc. raised its position in Dynex Capital by 1,862.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,688 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 2,551 shares during the period. MetLife Investment Management LLC raised its position in Dynex Capital by 54.4% in the 1st quarter. MetLife Investment Management LLC now owns 18,600 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 6,557 shares during the period. Finally, Rhumbline Advisers raised its position in Dynex Capital by 21.7% in the 1st quarter. Rhumbline Advisers now owns 55,674 shares of the real estate investment trust’s stock worth $902,000 after purchasing an additional 9,922 shares during the period. 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.