Dynex Capital (NYSE:DX) Hits New 52-Week Low – Should You Sell?

Dynex Capital, Inc. (NYSE:DX)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $10.73 and last traded at $10.8540, with a volume of 7289942 shares. The stock had previously closed at $10.83.

Wall Street Analysts Forecast Growth

DX has been the subject of several research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Dynex Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. JonesTrading reissued a “buy” rating and issued a $14.75 target price on shares of Dynex Capital in a report on Tuesday, July 21st. Finally, BTIG Research set a $12.00 target price on Dynex Capital and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Dynex Capital currently has an average rating of “Moderate Buy” and an average target price of $13.94.

Dynex Capital Price Performance

The company has a market capitalization of $2.65 billion, a P/E ratio of 4.07 and a beta of 0.98. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The business has a 50 day simple moving average of $12.38 and a 200-day simple moving average of $12.82.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The business had revenue of $302.75 million during the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were given a $0.17 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.04 annualized dividend and a yield of 19.0%. Dynex Capital’s dividend payout ratio is 77.57%.

Insider Activity at Dynex Capital

In other Dynex Capital news, CIO John Jr purchased 2,500 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were bought at an average price of $11.18 per share, with a total value of $27,950.00. Following the completion of the acquisition, the executive owned 58,695 shares in the company, valued at approximately $656,210.10. This represents a 4.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Dynex Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after acquiring an additional 2,355,906 shares in the last quarter. State Street Corp grew its stake in shares of Dynex Capital by 12.8% in the second quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust’s stock worth $67,862,000 after purchasing an additional 579,022 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Dynex Capital by 142.9% in the second quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock worth $29,128,000 after purchasing an additional 1,307,100 shares in the last quarter. Callodine Capital Management LP acquired a new position in shares of Dynex Capital during the first quarter valued at $21,320,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Dynex Capital during the first quarter valued at $19,581,000. 38.34% of the stock is currently owned by institutional investors and hedge funds.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is a mortgage real estate investment trust that invests in mortgage-related assets. Its portfolio primarily consists of agency mortgage-backed securities, including securities backed by residential and commercial mortgages, as well as other mortgage assets.

The company uses financing arrangements, including repurchase agreements, to support its investment activities and seeks to generate income from the spread between the returns on its investments and its financing and operating costs.