Dynex Capital (NYSE:DX) reduced to “sell” at Zacks Investment Research

Zacks Investment Research cut shares by Dynex Capital (NYSE:DX – Get Rating) from a hold rating to a sell rating in a research note released to investors Friday morning, Zacks.com reports.

According to Zacks, “Dynex Capital, Inc. and its subsidiaries and affiliates is a mortgage and consumer finance company that uses its loan origination operations to create investments for its portfolio. Currently, the Company’s main production activities 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. “

A number of other equity research analysts have also recently published reports on DX. Jonestrading lowered its target price on Dynex Capital shares from $20.00 to $19.00 in a report released Thursday. StockNews.com launched coverage on Dynex Capital shares in a Thursday, March 31 report. They issued a hold note on the stock.

Shares of DX opened at $16.23 on Friday. The company’s fifty-day simple moving average is $15.78 and its two-hundred-day simple moving average is $16.55. Dynex Capital has a 1-year low of $14.54 and a 1-year high of $20.51. The stock has a market capitalization of $595.15 million, a price-earnings ratio of 6.88 and a beta of 1.17.

Dynex Capital (NYSE:DX – Get Rating) last released its results on Wednesday, April 27. The real estate investment trust reported earnings per share (EPS) of $0.44 for the quarter, missing analyst consensus estimates of $0.45 per ($0.01). Dynex Capital had a net margin of 159.69% and a return on equity of 9.76%. In the same quarter a year earlier, the company posted EPS of $0.46. As a group, analysts expect Dynex Capital to post 1.72 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, May 2. Shareholders of record on Friday, April 22 will receive a dividend of $0.13. The ex-dividend date is Thursday, April 21. This represents an annualized dividend of $1.56 and a dividend yield of 9.61%. Dynex Capital’s payout ratio is currently 66.10%.

In other news, CEO Byron L. Boston purchased 12,600 shares of Dynex Capital in a trade that took place on Friday, February 4. The shares were acquired at an average price of $15.98 per share, with a total value of $201,348.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Company insiders own 2.50% of the company’s shares.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Barclays PLC increased its stake in Dynex Capital by 4.7% in the fourth quarter. Barclays PLC now owns 43,821 shares of the real estate investment trust valued at $732,000 after acquiring 1,978 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in Dynex Capital by 30.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 800,879 shares of the real estate investment trust valued at $13,382,000 after purchasing an additional 185,935 shares during the period. Deutsche Bank AG increased its stake in Dynex Capital shares by 11.7% during the fourth quarter. Deutsche Bank AG now owns 21,990 shares of the real estate investment trust valued at $367,000 after buying 2,301 additional shares in the last quarter. California State Teachers Retirement System increased its holdings of Dynex Capital stock 12.8% in the fourth quarter. California State Teachers Retirement System now owns 48,791 shares of the real estate investment trust worth $815,000 after purchasing 5,518 additional shares during the period. Finally, Graham Capital Wealth Management LLC purchased a new equity stake in Dynex Capital in Q4 valued at approximately $188,000. 40.86% of the shares are currently held by institutional investors and hedge funds.

About Dynex Capital (Get a rating)

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 composed of residential MBS, commercial MBS (CMBS) and interest-only securities CMBS. The MBS agency has a guarantee of payment of the principal by a United States agency

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