Zacks Investment Research upgraded shares of Dynex Capital (NYSE:DX) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $18.00 price target on the real estate investment trust’s stock.
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. “
Separately, ValuEngine lowered shares of Dynex Capital from a strong-buy rating to a buy rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Dynex Capital has a consensus rating of Buy and an average target price of $19.07.
Dynex Capital (NYSE:DX) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. Dynex Capital had a negative net margin of 178.71% and a positive return on equity of 11.98%. The company had revenue of $13.25 million during the quarter. Equities research analysts expect that Dynex Capital will post 2.03 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $1.80 dividend on an annualized basis and a yield of 11.10%. Dynex Capital’s payout ratio is 82.19%.
In other Dynex Capital news, CFO Stephen J. Benedetti purchased 4,000 shares of Dynex Capital stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $14.68 per share, for a total transaction of $58,720.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.36% of the company’s stock.
Several large investors have recently bought and sold shares of DX. Canada Pension Plan Investment Board purchased a new position in shares of Dynex Capital in the 2nd quarter worth approximately $499,000. First Trust Advisors LP grew its position in Dynex Capital by 75.4% during the 1st quarter. First Trust Advisors LP now owns 188,675 shares of the real estate investment trust’s stock worth $1,149,000 after purchasing an additional 81,084 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in Dynex Capital by 12.0% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 25,133 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 2,700 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Dynex Capital during the 3rd quarter worth approximately $170,000. Finally, Nuveen Asset Management LLC purchased a new stake in Dynex Capital during the 2nd quarter worth approximately $2,191,000. Institutional investors and hedge funds own 52.84% of the company’s stock.
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.
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