Dynex Capital (NYSE:DX) Receives Buy Rating from JonesTrading

Dynex Capital (NYSE:DX)‘s stock had its “buy” rating reiterated by analysts at JonesTrading in a 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 objective would suggest a potential upside of 12.49% from the stock’s previous close.

DX has been the subject of several other reports. Wall Street Zen cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. BTIG Research set a $14.50 target price on shares of Dynex Capital in a research report on Wednesday, June 17th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $14.50 price target (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Dynex Capital has an average rating of “Moderate Buy” and an average price target of $14.56.

Dynex Capital Stock Down 1.6%

Shares of NYSE:DX opened at $13.11 on Tuesday. Dynex Capital has a 52-week low of $11.82 and a 52-week high of $14.93. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 7.76 and a beta of 0.95. The business has a 50-day moving average price of $13.03 and a 200-day moving average price of $13.43.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%. The firm had revenue of ($59.11) million during the quarter, compared to analysts’ expectations of $67.37 million.

Hedge Funds Weigh In On Dynex Capital

Several large investors have recently made changes to their positions in DX. Summit Financial LLC lifted its stake in Dynex Capital by 0.4% in the 4th quarter. Summit Financial LLC now owns 211,048 shares of the real estate investment trust’s stock worth $2,957,000 after purchasing an additional 903 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Dynex Capital by 98.5% during the 4th quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 928 shares during the last quarter. Huntington National Bank grew its position in shares of Dynex Capital by 22.3% in the fourth quarter. Huntington National Bank now owns 5,856 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,066 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in shares of Dynex Capital by 2.1% in the third quarter. Brevan Howard Capital Management LP now owns 52,725 shares of the real estate investment trust’s stock valued at $648,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Dynex Capital by 2.3% in the third quarter. Lido Advisors LLC now owns 53,321 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 1,179 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors and hedge funds.

Dynex Capital News Roundup

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: Dynex Capital reported Q2 earnings per share of $0.36, matching Wall Street’s estimate, while revenue came in at $302.75 million, well above expectations. Dynex Capital Q2 Earnings Report and Conference Call
• Positive Sentiment: Coverage of the earnings call highlighted strong growth, strong economic return, and strategic execution, suggesting management delivered an encouraging outlook for the mortgage REIT’s core business. Dynex Capital Earnings Call Highlights Strong Growth
• Positive Sentiment: Reports also noted that book value grew, which is important for a mortgage REIT like Dynex because it can signal stronger asset performance and support investor confidence in dividend sustainability. Dynex trades higher as Q2 earnings beat as book value grows
• Neutral Sentiment: The company’s Q2 earnings snapshot and transcript coverage add detail to the results, but the main market-moving takeaway remains the better-than-feared earnings performance and improving fundamentals. Dynex Capital Q2 Earnings Snapshot
• Negative Sentiment: No major negative headlines were apparent in the latest batch of articles; however, investors will still be watching whether the stronger quarter can be sustained given rate and spread pressures typical for mortgage REITs.

Dynex Capital Company Profile

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.