Dynex Capital (NYSE:DX) Sees Strong Trading Volume on Strong Earnings

Shares of Dynex Capital, Inc. (NYSE:DX) saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 1,894,243 shares traded 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 $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%.

Dynex Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Wednesday, April 23rd will be given a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 18.00%. The ex-dividend date of this dividend is Wednesday, April 23rd. Dynex Capital’s dividend payout ratio (DPR) is 138.78%.

Analysts Set New Price Targets

DX has been the subject of several recent research reports. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods cut their price target on shares of Dynex Capital from $13.25 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Institutional Investors Weigh In On Dynex Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in Dynex Capital by 2.9% in the 3rd quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust’s stock worth $19,977,000 after buying an additional 44,302 shares during the period. Barclays PLC increased its position in Dynex Capital by 833.2% during the third quarter. Barclays PLC now owns 218,853 shares of the real estate investment trust’s stock worth $2,793,000 after acquiring an additional 195,400 shares during the period. Geode Capital Management LLC raised its stake in Dynex Capital by 17.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,701,740 shares of the real estate investment trust’s stock valued at $21,718,000 after purchasing an additional 253,660 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Dynex Capital by 95.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 390,100 shares of the real estate investment trust’s stock valued at $4,978,000 after purchasing an additional 190,626 shares during the period. Finally, Weaver Consulting Group acquired a new stake in Dynex Capital in the 4th quarter worth $156,000. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Stock Performance

The firm’s fifty day moving average price is $13.23 and its 200-day moving average price is $12.81. The company has a market cap of $1.09 billion, a P/E ratio of 7.71 and a beta of 1.14. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01.

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.