Dynex Capital (NYSE:DX) Lowered to Hold at Zacks Investment Research

Dynex Capital (NYSE:DX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Shares of NYSE DX traded up $0.05 during midday trading on Tuesday, hitting $17.22. 542,590 shares of the company traded hands, compared to its average volume of 533,453. The firm has a market cap of $631.39 million, a P/E ratio of 3.65 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.29 and a current ratio of 1.29. Dynex Capital has a 12-month low of $16.45 and a 12-month high of $20.51. The stock has a 50-day moving average price of $17.55 and a 200 day moving average price of $18.03.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. Dynex Capital had a net margin of 215.48% and a return on equity of 10.66%. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, equities analysts expect that Dynex Capital will post 2 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. 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 worth $28,782,000 after acquiring an additional 3,313,061 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Dynex Capital by 610.1% during 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 purchasing an additional 379,451 shares during the period. BlackRock Inc. increased its position in Dynex Capital by 13.5% during 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 purchasing an additional 343,252 shares during the period. Morgan Stanley increased its position in Dynex Capital by 393.1% during the 2nd quarter. Morgan Stanley now owns 252,291 shares of the real estate investment trust’s stock valued at $4,709,000 after purchasing an additional 201,126 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Dynex Capital during the 2nd quarter valued at about $2,858,000. 43.39% of the stock is owned by institutional investors.

About Dynex Capital

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.

See Also: Hedge Funds

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