Dynex Capital (NYSE:DX) Given New $14.50 Price Target at Keefe, Bruyette & Woods

Dynex Capital (NYSE:DX) had its target price upped by Keefe, Bruyette & Woods from $14.00 to $14.50 in a report released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

DX has been the subject of several other research reports. Jones Trading reiterated a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a research note on Monday, October 20th. UBS Group set a $13.25 price target on Dynex Capital and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a report on Monday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.92.

Dynex Capital Trading Up 0.4%

DX opened at $13.75 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 9.29 and a beta of 0.97. Dynex Capital has a 12 month low of $10.79 and a 12 month high of $14.52. The stock has a fifty day moving average price of $13.54 and a 200-day moving average price of $12.84.

Dynex Capital (NYSE:DX) last posted its earnings results on Monday, October 20th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.19). The company had revenue of $421.91 million during the quarter, compared to analysts’ expectations of $32.06 million. Dynex Capital had a net margin of 41.53% and a return on equity of 6.65%. As a group, equities research analysts anticipate that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 14.8%. Dynex Capital’s payout ratio is 137.84%.

Insider Buying and Selling at Dynex Capital

In other news, CFO Robert S. Colligan bought 4,200 shares of Dynex Capital stock in a transaction that occurred on Friday, September 26th. The stock was bought at an average price of $12.12 per share, for a total transaction of $50,904.00. Following the purchase, the chief financial officer directly owned 120,857 shares of the company’s stock, valued at approximately $1,464,786.84. The trade was a 3.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Smriti Laxman Popenoe purchased 4,260 shares of the stock in a transaction on Friday, September 26th. The shares were purchased at an average cost of $12.16 per share, with a total value of $51,801.60. Following the transaction, the chief executive officer owned 407,338 shares in the company, valued at $4,953,230.08. This trade represents a 1.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dynex Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Dynex Capital by 130,013.1% in 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 acquiring an additional 19,130,122 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Dynex Capital by 21.3% in the third quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust’s stock valued at $92,345,000 after purchasing an additional 1,318,236 shares during the last quarter. Millennium Management LLC raised its stake in shares of Dynex Capital by 311.4% during the 1st quarter. Millennium Management LLC now owns 3,276,781 shares of the real estate investment trust’s stock valued at $42,664,000 after buying an additional 2,480,330 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Dynex Capital by 26.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,525,805 shares of the real estate investment trust’s stock valued at $30,870,000 after buying an additional 521,530 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Dynex Capital by 6.8% in the third quarter. Ameriprise Financial Inc. now owns 1,736,645 shares of the real estate investment trust’s stock worth $21,345,000 after buying an additional 110,705 shares during the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

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.