Dynex Capital, Inc. (NYSE:DX) Receives Average Rating of “Moderate Buy” from Analysts

Dynex Capital, Inc. (NYSE:DX) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.35.

DX has been the subject of several analyst reports. Compass Point assumed coverage on Dynex Capital in a report on Friday, April 12th. They issued a “buy” rating and a $14.50 price objective for the company. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, April 18th. Jonestrading reiterated a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a research note on Monday, April 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Finally, Janney Montgomery Scott initiated coverage on shares of Dynex Capital in a report on Thursday, June 6th. They set a “buy” rating and a $13.50 price target for the company.

Hedge Funds Weigh In On Dynex Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in DX. Algebris UK Ltd bought a new stake in shares of Dynex Capital during the first quarter worth $2,477,000. Kraft Davis & Associates LLC acquired a new stake in shares of Dynex Capital during the 1st quarter valued at $181,000. Price T Rowe Associates Inc. MD grew its position in Dynex Capital by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,259 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 2,134 shares during the last quarter. Vanguard Group Inc. increased its holdings in Dynex Capital by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,042,634 shares of the real estate investment trust’s stock worth $37,881,000 after purchasing an additional 41,586 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Dynex Capital by 8.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,754 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 1,330 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.

Dynex Capital Stock Up 0.8 %

Shares of DX opened at $11.94 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. Dynex Capital has a 12 month low of $9.57 and a 12 month high of $13.56. The firm’s 50 day moving average is $12.06 and its 200-day moving average is $12.25. The stock has a market capitalization of $766.67 million, a PE ratio of 10.21 and a beta of 1.33.

Dynex Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 24th will be paid a $0.13 dividend. The ex-dividend date is Monday, June 24th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.07%. Dynex Capital’s payout ratio is currently 133.33%.

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.