Dynex Capital (NYSE:DX) Given New $12.50 Price Target at Keefe, Bruyette & Woods

Dynex Capital (NYSE:DX) had its price target lowered by Keefe, Bruyette & Woods from $13.25 to $12.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

DX has been the subject of several other reports. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Dynex Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

Dynex Capital Stock Performance

Shares of DX stock opened at $11.51 on Tuesday. Dynex Capital has a 12-month low of $11.36 and a 12-month high of $14.52. The business’s fifty day simple moving average is $13.53 and its 200-day simple moving average is $12.86. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.11 billion, a PE ratio of 7.83 and a beta of 1.14.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 24th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 17.73%. This is a positive change from Dynex Capital’s previous monthly dividend of $0.15. Dynex Capital’s dividend payout ratio is presently 138.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of 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 buying an additional 1,715 shares during the last quarter. GAMMA Investing LLC raised its position in Dynex Capital by 3,682.2% during the first quarter. GAMMA Investing LLC now owns 15,507 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 15,097 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Dynex Capital by 91.0% in the fourth quarter. Squarepoint Ops LLC now owns 19,263 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 9,178 shares during the period. State of Wyoming boosted its position in Dynex Capital by 66.4% in the 4th quarter. State of Wyoming now owns 21,594 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 8,617 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Dynex Capital by 58.2% during the 4th quarter. ProShare Advisors LLC now owns 22,239 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 8,181 shares during the period. 38.34% of the stock is currently owned by institutional investors and hedge funds.

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.