Dynex Capital (DX) Upgraded by Zacks Investment Research to “Buy”

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 Wednesday. The firm presently has a $6.75 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.57% from the stock’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. “

A number of other equities analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods set a $7.00 target price on shares of Dynex Capital and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Finally, TheStreet upgraded shares of Dynex Capital from a “d+” rating to a “c” rating in a research report on Thursday, November 1st.

DX stock traded down $0.03 during trading on Wednesday, reaching $6.05. 307,700 shares of the company were exchanged, compared to its average volume of 358,581. The company has a market cap of $358.73 million, a P/E ratio of 8.29 and a beta of 0.60. Dynex Capital has a 52-week low of $5.76 and a 52-week high of $7.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $12.17 million for the quarter. Dynex Capital had a net margin of 105.23% and a return on equity of 13.92%. On average, equities research analysts expect that Dynex Capital will post 0.71 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in Dynex Capital by 14.4% during the third quarter. Renaissance Technologies LLC now owns 623,454 shares of the real estate investment trust’s stock worth $3,978,000 after acquiring an additional 78,354 shares during the last quarter. BlackRock Inc. raised its position in Dynex Capital by 7.9% during the third quarter. BlackRock Inc. now owns 3,626,512 shares of the real estate investment trust’s stock worth $23,136,000 after acquiring an additional 264,954 shares during the last quarter. Systematic Financial Management LP raised its position in Dynex Capital by 5.7% during the third quarter. Systematic Financial Management LP now owns 173,589 shares of the real estate investment trust’s stock worth $1,107,000 after acquiring an additional 9,330 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Dynex Capital by 40.9% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,837 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 15,327 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Dynex Capital by 14.2% during the third quarter. Wells Fargo & Company MN now owns 96,621 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 11,996 shares during the last quarter. Institutional investors own 51.48% of the company’s stock.

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.

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