Dynex Capital (NYSE:DX) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Dynex Capital (NYSE:DXGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Dynex Capital, Inc. and its Subsidiaries and Affiliates, is a mortgage and consumer finance company which uses its loan production operations to create investments for its portfolio. Currently, the Company’s primary production operations include the origination of mortgage loans secured by multi-family properties and the origination of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand into other financial products in the future. “

A number of other equities analysts also recently issued reports on DX. Jonestrading lowered their price target on Dynex Capital from $20.00 to $19.00 in a research report on Thursday, April 28th. StockNews.com started coverage on Dynex Capital in a research report on Thursday, March 31st. They set a hold rating on the stock.

Shares of Dynex Capital stock opened at $16.18 on Tuesday. The stock has a 50 day moving average price of $16.04 and a 200-day moving average price of $16.26. Dynex Capital has a one year low of $14.54 and a one year high of $20.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $597.98 million, a price-to-earnings ratio of 6.86 and a beta of 1.08.

Dynex Capital (NYSE:DXGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Dynex Capital had a return on equity of 9.69% and a net margin of 159.69%. During the same period in the prior year, the business earned $0.46 earnings per share. Sell-side analysts predict that Dynex Capital will post 1.72 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 23rd were paid a dividend of $0.13 per share. The ex-dividend date was Friday, May 20th. This represents a $1.56 annualized dividend and a yield of 9.64%. Dynex Capital’s payout ratio is 66.10%.

In other news, CEO Byron L. Boston bought 2,000 shares of Dynex Capital stock in a transaction dated Friday, May 13th. The stock was acquired at an average cost of $16.00 per share, with a total value of $32,000.00. Following the acquisition, the chief executive officer now owns 394,951 shares of the company’s stock, valued at $6,319,216. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds have recently modified their holdings of DX. FMR LLC grew its holdings in shares of Dynex Capital by 234.4% in the 1st quarter. FMR LLC now owns 4,726,214 shares of the real estate investment trust’s stock worth $28,782,000 after acquiring an additional 3,313,061 shares during the period. Morgan Stanley raised its position in shares of Dynex Capital by 393.1% in the 2nd quarter. Morgan Stanley now owns 252,291 shares of the real estate investment trust’s stock worth $4,709,000 after buying an additional 201,126 shares during the period. BlackRock Inc. raised its position in shares of Dynex Capital by 11.8% in the 3rd quarter. BlackRock Inc. now owns 3,225,967 shares of the real estate investment trust’s stock worth $55,744,000 after buying an additional 341,472 shares during the period. Goldman Sachs Group Inc. raised its position in Dynex Capital by 39.2% in the third quarter. Goldman Sachs Group Inc. now owns 614,944 shares of the real estate investment trust’s stock valued at $10,626,000 after purchasing an additional 173,299 shares during the period. Finally, Geode Capital Management LLC raised its position in Dynex Capital by 11.2% in the third quarter. Geode Capital Management LLC now owns 557,343 shares of the real estate investment trust’s stock valued at $9,630,000 after purchasing an additional 56,060 shares during the period. 39.45% of the stock is owned by institutional investors and hedge funds.

About Dynex Capital (Get Rating)

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.

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