Dynex Capital (DX) Upgraded to “Buy” by Zacks Investment Research

Dynex Capital (NYSE:DX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $8.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.42% from the company’s previous close.

According to Zacks, “Dynex Capital, Inc. and its Subsidiaries and Affiliates, is a mortgage and consumer finance company which uses its loan production operations to create investments for its portfolio. Currently, the Company’s primary production operations include the origination of mortgage loans secured by multi-family properties and the origination of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand into other financial products in the future. “

Other analysts also recently issued reports about the stock. BidaskClub upgraded shares of Dynex Capital from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Ladenburg Thalmann Financial Services restated a “buy” rating and set a $7.50 target price on shares of Dynex Capital in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $7.25 target price on shares of Dynex Capital in a report on Friday, October 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $7.58.

Shares of Dynex Capital (NYSE DX) traded up $0.02 during trading hours on Tuesday, hitting $7.18. 296,812 shares of the company were exchanged, compared to its average volume of 333,414. The firm has a market cap of $382.11, a P/E ratio of 9.79 and a beta of 0.81. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.01. Dynex Capital has a 1-year low of $6.58 and a 1-year high of $7.41.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $13.21 million for the quarter, compared to the consensus estimate of $15.36 million. Dynex Capital had a net margin of 86.86% and a return on equity of 11.08%. Dynex Capital’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS. equities analysts anticipate that Dynex Capital will post 0.72 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System raised its holdings in shares of Dynex Capital by 3.6% in the third quarter. California Public Employees Retirement System now owns 267,620 shares of the real estate investment trust’s stock valued at $1,946,000 after purchasing an additional 9,420 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Dynex Capital by 68.6% in the third quarter. Mackenzie Financial Corp now owns 67,947 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 27,650 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Dynex Capital by 5.9% in the third quarter. OxFORD Asset Management LLP now owns 249,634 shares of the real estate investment trust’s stock valued at $1,820,000 after buying an additional 13,993 shares in the last quarter. KBC Group NV grew its stake in shares of Dynex Capital by 34.1% in the third quarter. KBC Group NV now owns 65,292 shares of the real estate investment trust’s stock valued at $475,000 after buying an additional 16,591 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in shares of Dynex Capital by 89.0% in the third quarter. Hillsdale Investment Management Inc. now owns 266,500 shares of the real estate investment trust’s stock valued at $1,937,000 after buying an additional 125,500 shares in the last quarter. Institutional investors own 44.70% of the company’s stock.

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About Dynex Capital

Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.

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