Dynex Capital (NYSE: DX) Upgraded to Buy from Zacks Investment Research
Dynex Capital (NYSE: DX) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a report released Wednesday, Zacks.com reports. The brokerage firm currently has a target price of $ 19.00 on the shares of the REIT. Zacks Investment Research's price target points to a potential rise of 13.50% from the share's previous close.
According to Zacks, "Dynex Capital, Inc. and its subsidiaries and affiliates, is a mortgage and consumer finance company that uses its loan production operations to create investments for its portfolio. Currently, the main operations of The Company's production includes the issuance of mortgages secured by multi-family properties and the granting of loans secured by manufactured homes. The Company has recently expanded its production activities to include commercial real estate loans and may expand to d 'other financial products in the future. "
Separately, JMP Securities reiterated a "hold" rating on Dynex Capital shares in a research report released Wednesday.
NYSE DX traded up $ 0.07 on Wednesday, reaching $ 16.74. 998,021 shares of the company were traded for an average volume of 535,935. The company has a market capitalization of $ 613.79 million, a price / earnings ratio of 3.55 and a beta of 1.20. The stock has a 50-day moving average price of $ 17.50 and a 200-day moving average price of $ 17.94. Dynex Capital has a fifty-two week minimum of $ 16.45 and a fifty-two week high of $ 20.51. The company has a debt to equity ratio of 0.03, a rapid ratio of 1.29, and a current ratio of 1.29.
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Knightscope, Inc., a developer of advanced physical security technologies focused on improving security operations in the United States, has begun offering up to $ 40 million in Class A common stock, with the shares to be listed immediately after the close of NASDAQ under the ticker symbol "KSCP."
Dynex Capital (NYSE: DX) last reported its results on Wednesday, October 27. The real estate investment trust reported earnings per share (EPS) of $ 0.54 for the quarter, beating consensus analysts' estimates of $ 0.48 by $ 0.06. Dynex Capital had a net margin of 215.48% and a return on equity of 10.66%. In the same quarter of the previous year, the company achieved earnings per share of $ 0.61. As a group, equity research analysts predict that Dynex Capital will post 2 EPS for the current fiscal year.
Institutional investors and hedge funds have recently increased or reduced their holdings in the stock. Point72 Hong Kong Ltd acquired a new position in Dynex Capital shares during the 3rd quarter valued at approximately $ 72,000. Legal & General Group Plc increased its stake in Dynex Capital by 18.6% during the 2nd quarter. Legal & General Group Plc now owns 5,707 real estate investment trust shares valued at $ 106,000 after acquiring 897 additional shares during the last quarter. Strs Ohio increased its stake in Dynex Capital by 9.9% during the 3rd quarter. Strs Ohio now owns 7,800 real estate investment trust shares valued at $ 134,000 after acquiring 700 more shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in Dynex Capital by 99,962.5% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 8,005 real estate investment trust shares valued at $ 149,000 after acquiring an additional 7,997 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Dynex Capital by 30.2% during the second quarter. O Shaughnessy Asset Management LLC now owns 10,151 REIT shares valued at $ 189,000 after acquiring 2,352 additional shares in the last quarter. Hedge funds and other institutional investors hold 43.39% of the company's shares.
Dynex Capital Company Profile
Dynex Capital, Inc. is an in-house managed mortgage real estate investment trust that invests in residential and commercial mortgage-backed securities with leverage. It invests primarily in agency and non-agency mortgage backed securities (MBS), comprising residential MBS (RMBS), commercial MBS (CMBS) and CMBS interest-only securities (IO).
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