UBS Group Reiterates Neutral Rating for Dynex Capital (NYSE:DX)

Dynex Capital (NYSE:DX)‘s stock had its “neutral” rating reissued by stock analysts at UBS Group in a research note issued on Thursday, Marketbeat.com reports. They currently have a $12.50 target price on the real estate investment trust’s stock, up from their previous target price of $11.00. UBS Group’s price objective suggests a potential downside of 1.88% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Jones Trading cut 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 downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price target on Dynex Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.67.

Dynex Capital Price Performance

DX opened at $12.74 on Thursday. The stock has a 50-day moving average price of $12.29 and a 200-day moving average price of $12.72. The firm has a market cap of $1.37 billion, a PE ratio of 16.55 and a beta of 0.92. Dynex Capital has a 1 year low of $10.79 and a 1 year high of $14.52.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share for the quarter, topping 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 business had revenue of $17.13 million during the quarter, compared to analyst estimates of $11.41 million. As a group, sell-side analysts anticipate that Dynex Capital will post 1.94 EPS for the current year.

Institutional Investors Weigh In On Dynex Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its holdings in Dynex Capital by 130,013.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,144,836 shares of the real estate investment trust’s stock valued at $242,772,000 after buying an additional 19,130,122 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Dynex Capital by 311.4% in the first quarter. Millennium Management LLC now owns 3,276,781 shares of the real estate investment trust’s stock valued at $42,664,000 after purchasing an additional 2,480,330 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Dynex Capital by 1,510.0% in the first quarter. MetLife Investment Management LLC now owns 728,728 shares of the real estate investment trust’s stock valued at $9,488,000 after purchasing an additional 683,466 shares in the last quarter. Algebris UK Ltd purchased a new position in shares of Dynex Capital in the first quarter valued at $6,511,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Dynex Capital in the first quarter valued at $6,810,000. 38.34% of the stock is 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.