Dynex Capital (NYSE:DX) Reaches New 12-Month High After Dividend Announcement

Dynex Capital, Inc. (NYSE:DX)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $13.48 and last traded at $13.44, with a volume of 1432473 shares trading hands. The stock had previously closed at $13.26.

The newly announced dividend which will be paid on Monday, March 3rd. Investors of record on Monday, February 24th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.07%. Dynex Capital’s payout ratio is currently 122.45%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DX shares. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a report 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 MarketBeat.com, Dynex Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.56.

Dynex Capital Trading Up 2.3 %

The company’s 50-day moving average is $12.76 and its 200 day moving average is $12.54. 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 market cap of $1.09 billion, a PE ratio of 9.37 and a beta of 1.31.

Dynex Capital (NYSE:DX) last issued 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 negative return on equity of 2.24% and a net margin of 35.65%. As a group, sell-side analysts predict that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Institutional Trading of Dynex Capital

Several institutional investors have recently made changes to their positions in the stock. Westbourne Investments Inc. purchased a new stake in Dynex Capital in the 4th quarter worth approximately $133,000. Freestone Grove Partners LP acquired a new position in shares of Dynex Capital in the fourth quarter worth $738,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of Dynex Capital by 174.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 110,300 shares of the real estate investment trust’s stock worth $1,395,000 after acquiring an additional 70,100 shares in the last quarter. Northern Trust Corp boosted its position in Dynex Capital by 15.7% during the fourth quarter. Northern Trust Corp now owns 724,865 shares of the real estate investment trust’s stock valued at $9,170,000 after purchasing an additional 98,537 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Dynex Capital by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,572 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 6,015 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors and hedge funds.

About Dynex Capital

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.