Dynex Capital (NYSE:DX) Sees Large Volume Increase After Strong Earnings

Dynex Capital, Inc. (NYSE:DX) shares saw unusually-strong trading volume on Monday following a stronger than expected earnings report. Approximately 1,894,243 shares were traded during trading, a decline of 15% from the previous session’s volume of 2,232,564 shares.The stock last traded at $11.38 and had previously closed at $11.67.

The real estate investment trust reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Wednesday, April 23rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.04 dividend on an annualized basis and a yield of 18.00%. Dynex Capital’s payout ratio is currently 138.78%.

Analyst Ratings Changes

DX has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

Institutional Investors Weigh In On Dynex Capital

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Dynex Capital by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,132 shares of the real estate investment trust’s stock valued at $8,249,000 after buying an additional 42,012 shares in the last quarter. Barclays PLC raised its stake in shares of Dynex Capital by 833.2% in the third quarter. Barclays PLC now owns 218,853 shares of the real estate investment trust’s stock worth $2,793,000 after acquiring an additional 195,400 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Dynex Capital during the fourth quarter worth approximately $1,510,000. State Street Corp grew its stake in shares of Dynex Capital by 2.9% during the third quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust’s stock valued at $19,977,000 after purchasing an additional 44,302 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Dynex Capital by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust’s stock valued at $54,615,000 after purchasing an additional 260,798 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors.

Dynex Capital Stock Performance

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 7.71 and a beta of 1.14. 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 firm has a fifty day simple moving average of $13.23 and a 200-day simple moving average of $12.81.

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.