JonesTrading Reiterates “Buy” Rating for Dynex Capital (NYSE:DX)

Dynex Capital (NYSE:DX)‘s stock had its “buy” rating restated by equities research analysts at JonesTrading in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $14.75 target price on the real estate investment trust’s stock. JonesTrading’s price target would indicate a potential upside of 13.86% from the company’s previous close.

A number of other analysts also recently commented on the company. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. BTIG Research set a $14.50 target price on Dynex Capital in a research report on Wednesday, June 17th. Finally, UBS Group reiterated a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.56.

Dynex Capital Stock Performance

Dynex Capital stock opened at $12.95 on Tuesday. Dynex Capital has a fifty-two week low of $11.82 and a fifty-two week high of $14.93. The firm’s 50-day simple moving average is $13.02 and its 200 day simple moving average is $13.42. The stock has a market cap of $2.79 billion, a PE ratio of 4.93 and a beta of 0.95.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 9.63%. The firm had revenue of $302.75 million during the quarter, compared to analyst estimates of $103.62 million.

Institutional Trading of Dynex Capital

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Dynex Capital by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust’s stock worth $117,555,000 after acquiring an additional 876,931 shares during the period. Geode Capital Management LLC raised its stake in Dynex Capital by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust’s stock valued at $48,892,000 after acquiring an additional 257,719 shares during the period. State Street Corp lifted its holdings in Dynex Capital by 11.5% during the fourth quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust’s stock valued at $42,484,000 after purchasing an additional 313,319 shares during the last quarter. Millennium Management LLC lifted its holdings in Dynex Capital by 79.8% during the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock valued at $27,468,000 after purchasing an additional 992,269 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in Dynex Capital by 87.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,136,636 shares of the real estate investment trust’s stock worth $29,934,000 after purchasing an additional 998,736 shares during the period. 38.34% of the stock is currently owned by institutional investors.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.