Dynex Capital (DX) Downgraded to “Sell” at ValuEngine

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ValuEngine cut shares of Dynex Capital (NYSE:DX) from a hold rating to a sell rating in a report issued on Monday morning, ValuEngine reports.

DX has been the topic of several other reports. Zacks Investment Research upgraded shares of Dynex Capital from a hold rating to a buy rating and set a $6.75 price objective on the stock in a report on Monday, February 11th. TheStreet lowered shares of Dynex Capital from a c rating to a d+ rating in a report on Friday, February 8th. Finally, Nomura began coverage on shares of Dynex Capital in a report on Wednesday, March 27th. They issued a buy rating and a $7.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.71.

Shares of DX opened at $6.01 on Monday. The stock has a market capitalization of $433.49 million, a P/E ratio of 8.23 and a beta of 0.59. Dynex Capital has a 12-month low of $5.57 and a 12-month high of $6.82.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The firm had revenue of $13.68 million for the quarter. Dynex Capital had a net margin of 6.38% and a return on equity of 14.22%. As a group, equities analysts predict that Dynex Capital will post 0.7 earnings per share for the current year.

The company also recently announced a monthly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd were given a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 11.98%. The ex-dividend date of this dividend was Thursday, April 18th. Dynex Capital’s dividend payout ratio is currently 98.63%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DX. Quantamental Technologies LLC acquired a new position in shares of Dynex Capital during the fourth quarter worth about $27,000. Parallel Advisors LLC grew its position in shares of Dynex Capital by 268.5% during the first quarter. Parallel Advisors LLC now owns 5,240 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 3,818 shares in the last quarter. Whitener Capital Management Inc. acquired a new position in shares of Dynex Capital during the fourth quarter worth about $34,000. Joseph P. Lucia & Associates LLC acquired a new position in shares of Dynex Capital during the first quarter worth about $1,350,000. Finally, Meeder Asset Management Inc. grew its position in shares of Dynex Capital by 130.0% during the first quarter. Meeder Asset Management Inc. now owns 8,943 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,054 shares in the last quarter. 46.15% of the stock is owned by institutional investors.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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