Dynex Capital (NYSE:DX) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Dynex Capital, Inc. (NYSE:DX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.90 and traded as high as $13.97. Dynex Capital shares last traded at $13.9850, with a volume of 1,592,745 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on DX. Jones Trading reaffirmed a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a research report 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 note on Wednesday, October 8th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Dynex Capital from $14.00 to $14.50 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.92.

Dynex Capital Stock Performance

The stock has a market capitalization of $2.05 billion, a PE ratio of 9.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s 50 day moving average is $13.62 and its two-hundred day moving average is $12.90.

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

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Friday, January 2nd will be paid a dividend of $0.17 per share. This represents a c) annualized dividend and a yield of 14.6%. The ex-dividend date of this dividend is Friday, January 2nd. Dynex Capital’s payout ratio is presently 137.84%.

Insider Activity

In related news, CEO Smriti Laxman Popenoe purchased 4,260 shares of Dynex Capital stock in a transaction on Friday, September 26th. The shares were bought at an average price of $12.16 per share, with a total value of $51,801.60. Following the transaction, the chief executive officer directly owned 407,338 shares of the company’s stock, valued at approximately $4,953,230.08. This trade represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert S. Colligan acquired 4,200 shares of the stock in a transaction dated Friday, September 26th. The shares were bought at an average cost of $12.12 per share, with a total value of $50,904.00. Following the completion of the transaction, the chief financial officer owned 120,857 shares of the company’s stock, valued at approximately $1,464,786.84. This represents a 3.60% increase in their position. The SEC filing for this purchase provides additional information. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Dynex Capital

Several institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC boosted its position 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 purchasing an additional 19,130,122 shares during the period. Millennium Management LLC grew its position in 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 worth $42,664,000 after purchasing an additional 2,480,330 shares during the last quarter. Vanguard Group Inc. grew its position in Dynex Capital by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust’s stock worth $92,345,000 after purchasing an additional 1,318,236 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Dynex Capital by 184.2% in the third quarter. Balyasny Asset Management L.P. now owns 1,137,900 shares of the real estate investment trust’s stock valued at $13,985,000 after purchasing an additional 737,561 shares during the period. Finally, EMG Holdings L.P. acquired a new position in Dynex Capital in the third quarter valued at $8,550,000. Hedge funds and other institutional investors own 38.34% of the company’s stock.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.