Dynex Capital (NYSE:DX) Price Target Cut to $12.25

Dynex Capital (NYSE:DX) had its price objective trimmed by Keefe, Bruyette & Woods from $13.50 to $12.25 in a report published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on DX. Jonestrading reaffirmed a buy rating and issued a $14.00 target price on shares of Dynex Capital in a research note on Monday. JMP Securities reissued a market perform rating on shares of Dynex Capital in a research note on Thursday, April 18th. Compass Point began coverage on Dynex Capital in a research note on Friday, April 12th. They set a buy rating and a $14.50 price target on the stock. Finally, StockNews.com raised Dynex Capital to a sell rating in a research note on Tuesday, December 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dynex Capital has a consensus rating of Hold and an average price target of $13.31.

Dynex Capital Stock Performance

DX opened at $11.67 on Tuesday. Dynex Capital has a 1-year low of $9.57 and a 1-year high of $13.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s 50 day simple moving average is $12.17 and its 200 day simple moving average is $11.94. The stock has a market cap of $689.75 million, a P/E ratio of 9.97 and a beta of 1.33.

Dynex Capital (NYSE:DX) last posted its earnings results on Monday, January 29th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). Dynex Capital had a net margin of 30.50% and a negative return on equity of 7.51%. The company had revenue of $71.19 million during the quarter.

Dynex Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Tuesday, April 23rd will be paid a dividend of $0.13 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.37%. The ex-dividend date of this dividend is Monday, April 22nd. Dynex Capital’s dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Westend Capital Management LLC purchased a new position in shares of Dynex Capital in the 1st quarter worth $35,000. Tower Research Capital LLC TRC raised its position in shares of Dynex Capital by 14.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,378 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,044 shares during the period. SG Americas Securities LLC purchased a new position in shares of Dynex Capital in the 3rd quarter worth $132,000. Kovack Advisors Inc. raised its position in shares of Dynex Capital by 7.2% in the 1st quarter. Kovack Advisors Inc. now owns 16,978 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,135 shares during the period. Finally, Cambridge Advisors Inc. raised its position in shares of Dynex Capital by 5.9% in the 1st quarter. Cambridge Advisors Inc. now owns 18,000 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 38.34% of the company’s stock.

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.