Dynex Capital (NYSE:DX) Sees Large Volume Increase on Better-Than-Expected Earnings

Dynex Capital, Inc. (NYSE:DX) saw an uptick in trading volume on Monday after the company announced better than expected quarterly earnings. 1,894,243 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 2,232,564 shares.The stock last traded at $11.38 and had previously closed at $11.67.

The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%.

Dynex Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Wednesday, April 23rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 17.80%. Dynex Capital’s dividend payout ratio (DPR) is 138.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DX shares. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Jones Trading decreased their price target on Dynex Capital from $13.25 to $12.50 and set a “buy” rating for the company in a research note on Monday. Keefe, Bruyette & Woods dropped their price objective on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Dynex Capital has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

Institutional Trading of Dynex Capital

A number of large investors have recently added to or reduced their stakes in DX. Westend Capital Management LLC increased its holdings in shares of Dynex Capital by 37.0% in the fourth quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 919 shares in the last quarter. Founders Financial Alliance LLC grew its holdings in shares of Dynex Capital by 4.7% in the 4th quarter. Founders Financial Alliance LLC now owns 21,195 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 950 shares during the last quarter. Cambridge Advisors Inc. grew its holdings in shares of Dynex Capital by 7.6% in the 4th quarter. Cambridge Advisors Inc. now owns 18,400 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 1,300 shares during the last quarter. PDS Planning Inc raised its position in shares of Dynex Capital by 10.8% during the fourth quarter. PDS Planning Inc now owns 15,822 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 1,536 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Dynex Capital by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,700 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors.

Dynex Capital Price Performance

The stock has a 50 day moving average of $13.19 and a two-hundred day moving average of $12.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $1.10 billion, a PE ratio of 7.80 and a beta of 1.14.

About Dynex Capital

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 consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.