Dynex Capital (NYSE:DX) Reaches New 1-Year Low After Analyst Downgrade

Shares of Dynex Capital, Inc. (NYSE:DX) hit a new 52-week low during trading on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $13.25 to $12.50. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Dynex Capital traded as low as $11.09 and last traded at $11.24, with a volume of 398013 shares traded. The stock had previously closed at $11.53.

Several other equities analysts also recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Dynex Capital has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

Hedge Funds Weigh In On Dynex Capital

A number of large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted 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 worth $31,000 after purchasing an additional 2,223 shares in the last quarter. Westend Capital Management LLC lifted its holdings in shares of Dynex Capital by 37.0% in the fourth quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 919 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Dynex Capital in the fourth quarter worth about $43,000. PNC Financial Services Group Inc. boosted its position in shares of 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 valued at $46,000 after acquiring an additional 1,700 shares during the period. Finally, US Bancorp DE grew its stake in Dynex Capital by 567.1% during 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 institutional investors.

Dynex Capital Stock Down 6.5 %

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 $1.07 billion, a P/E ratio of 7.58 and a beta of 1.14. The stock’s fifty day moving average is $13.43 and its two-hundred day moving average is $12.84.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Dynex Capital, Inc. will post 1.94 earnings per share for the current year.

Dynex Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 24th were issued a dividend of $0.17 per share. This is a positive change from Dynex Capital’s previous monthly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 24th. This represents a $2.04 annualized dividend and a dividend yield of 18.30%. Dynex Capital’s payout ratio is presently 138.78%.

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.