Dynex Capital (NYSE:DX) Sets New 12-Month High – Here’s Why

Dynex Capital, Inc. (NYSE:DX)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $14.25 and last traded at $14.15, with a volume of 616947 shares. The stock had previously closed at $14.02.

Analyst Ratings Changes

Several analysts have weighed in on DX shares. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.56.

Dynex Capital Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of 9.69 and a beta of 1.35. The business’s 50-day simple moving average is $13.15 and its 200 day simple moving average is $12.72. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01.

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

Dynex Capital Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 24th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Dynex Capital’s previous monthly dividend of $0.15. This represents a $2.04 annualized dividend and a yield of 14.32%. Dynex Capital’s dividend payout ratio is currently 138.78%.

Hedge Funds Weigh In On Dynex Capital

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its holdings in Dynex Capital by 838.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,223 shares during the period. Westend Capital Management LLC increased its stake in shares of Dynex Capital by 37.0% during the fourth quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 919 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Dynex Capital during the fourth quarter valued at approximately $43,000. PNC Financial Services Group Inc. lifted its stake in Dynex Capital by 87.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,700 shares during the period. Finally, US Bancorp DE boosted its holdings in Dynex Capital by 567.1% in the fourth quarter. US Bancorp DE now owns 3,796 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 3,227 shares in the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

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.