Dynex Capital (NYSE:DX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $19.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.43% 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. “
NYSE:DX opened at $16.46 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $17.60 and a 200-day simple moving average of $18.12. Dynex Capital has a 12 month low of $16.45 and a 12 month high of $20.51. The company has a market capitalization of $603.52 million, a P/E ratio of 3.49 and a beta of 1.19.
Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Wednesday, October 27th. The real estate investment trust reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.06. Dynex Capital had a return on equity of 10.66% and a net margin of 215.48%. During the same quarter in the previous year, the company posted $0.61 earnings per share. Equities analysts forecast that Dynex Capital will post 2 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Dynex Capital by 234.4% in the 1st quarter. FMR LLC now owns 4,726,214 shares of the real estate investment trust’s stock valued at $28,782,000 after buying an additional 3,313,061 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Dynex Capital by 610.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 441,645 shares of the real estate investment trust’s stock valued at $8,241,000 after buying an additional 379,451 shares during the period. BlackRock Inc. lifted its holdings in shares of Dynex Capital by 13.5% in the 2nd quarter. BlackRock Inc. now owns 2,884,495 shares of the real estate investment trust’s stock valued at $53,824,000 after buying an additional 343,252 shares during the period. Morgan Stanley lifted its holdings in shares of Dynex Capital by 393.1% in the 2nd quarter. Morgan Stanley now owns 252,291 shares of the real estate investment trust’s stock valued at $4,709,000 after buying an additional 201,126 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Dynex Capital in the 2nd quarter valued at about $2,858,000. Institutional investors and hedge funds own 43.39% of the company’s stock.
Dynex Capital Company Profile
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage-backed securities on a leveraged basis. It primarily invests in Agency and non-Agency mortgage-backed securities (MBS) consisting of residential MBS (RMBS), commercial MBS (CMBS), and CMBS interest-only (IO) securities.
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