Dynex Capital, Inc. (DX) Issues Earnings Results, Beats Expectations By $0.03 EPS
Dynex Capital, Inc. (NYSE:DX) released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03, Morningstar.com reports. Dynex Capital had a net margin of 93.54% and a return on equity of 11.04%. The firm had revenue of $16.10 million during the quarter, compared to the consensus estimate of $14.26 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis.
Dynex Capital (NYSE:DX) traded down 0.28% during mid-day trading on Friday, hitting $7.09. 368,381 shares of the stock traded hands. The company has a market cap of $349.07 million, a price-to-earnings ratio of 4.60 and a beta of 0.85. The firm’s 50-day moving average is $6.98 and its 200-day moving average is $6.90. Dynex Capital has a 12-month low of $6.49 and a 12-month high of $7.61.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 6th were paid a $0.18 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 10.16%. Dynex Capital’s dividend payout ratio (DPR) is 46.75%.
In other Dynex Capital news, Director Barry Igdaloff sold 7,693 shares of Dynex Capital stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $6.90, for a total transaction of $53,081.70. Following the completion of the transaction, the director now directly owns 317,185 shares of the company’s stock, valued at $2,188,576.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.14% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Dynex Capital by 73.0% in the fourth quarter. Renaissance Technologies LLC now owns 363,022 shares of the real estate investment trust’s stock worth $2,476,000 after buying an additional 153,222 shares in the last quarter. Norges Bank acquired a new position in Dynex Capital during the fourth quarter worth about $1,348,000. Teachers Advisors LLC boosted its position in Dynex Capital by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 92,579 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 707 shares in the last quarter. James Investment Research Inc. boosted its position in Dynex Capital by 134.4% in the first quarter. James Investment Research Inc. now owns 400,070 shares of the real estate investment trust’s stock worth $2,836,000 after buying an additional 229,410 shares in the last quarter. Finally, LSV Asset Management boosted its position in Dynex Capital by 4.8% in the first quarter. LSV Asset Management now owns 1,479,598 shares of the real estate investment trust’s stock worth $10,490,000 after buying an additional 68,200 shares in the last quarter. 44.00% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on DX shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $7.00 price target on shares of Dynex Capital in a research report on Wednesday, April 26th. BidaskClub cut shares of Dynex Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $7.13.
Dynex Capital Company Profile
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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