Dynex Capital (NYSE:DX) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Dynex Capital, Inc. (NYSE:DX) shares saw unusually-strong trading volume on Monday following a better than expected earnings announcement. Approximately 1,894,243 shares traded hands during trading, a decline of 15% from the previous session’s volume of 2,232,564 shares.The stock last traded at $11.38 and had previously closed at $11.67.

The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Wednesday, April 23rd will be paid a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 17.80%. The ex-dividend date of this dividend is Wednesday, April 23rd. Dynex Capital’s dividend payout ratio is presently 138.78%.

Analysts Set New Price Targets

DX has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Jones Trading dropped their price target on shares of Dynex Capital from $13.25 to $12.50 and set a “buy” rating on the stock in a research note on Monday. JMP Securities reissued a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dynex Capital has an average rating of “Moderate Buy” and an average target price of $13.13.

Hedge Funds Weigh In On Dynex Capital

Institutional investors have recently made changes to their positions in the stock. BayBridge Capital Group LLC acquired a new position in Dynex Capital during the 1st quarter valued at approximately $319,000. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Dynex Capital in the 1st quarter worth about $192,000. Firethorn Wealth Partners LLC lifted its position in Dynex Capital by 35.1% in the 1st quarter. Firethorn Wealth Partners LLC now owns 15,796 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 4,107 shares during the last quarter. Rhumbline Advisers boosted its stake in Dynex Capital by 1.6% during the 1st quarter. Rhumbline Advisers now owns 109,285 shares of the real estate investment trust’s stock valued at $1,423,000 after purchasing an additional 1,715 shares during the period. Finally, GAMMA Investing LLC grew its position in Dynex Capital by 3,682.2% in the 1st quarter. GAMMA Investing LLC now owns 15,507 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 15,097 shares during the last quarter. 38.34% of the stock is owned by institutional investors.

Dynex Capital Stock Down 1.8 %

The firm’s 50 day simple moving average is $13.19 and its 200 day simple moving average is $12.80. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 7.80 and a beta of 1.14. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01.

Dynex Capital Company Profile

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.