Dynex Capital (NYSE:DX) Stock Gets Price Target Cut from JonesTrading

Dynex Capital (NYSE:DX) had its price target reduced by JonesTrading from $14.75 to $12.50 in a research note published on Monday,Benzinga reports. JonesTrading currently has a buy rating on the real estate investment trust’s stock.

DX has been the subject of a number of other reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Weiss Ratings downgraded Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 16th. Finally, BTIG Research set a $12.00 target price on Dynex Capital and gave the company a “buy” rating in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.38.

Dynex Capital Stock Up 0.7%

Dynex Capital stock opened at $11.04 on Monday. The business has a fifty day moving average of $12.03 and a two-hundred day moving average of $12.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.73 billion, a P/E ratio of 52.55 and a beta of 0.98. Dynex Capital has a twelve month low of $10.31 and a twelve month high of $14.93.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Dynex Capital had a negative net margin of 4.65% and a positive return on equity of 10.45%. The company had revenue of $101.56 million for the quarter, compared to the consensus estimate of $113.48 million.

Dynex Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be paid a $0.17 dividend. This represents a $2.04 annualized dividend and a yield of 18.5%. The ex-dividend date is Thursday, October 22nd. Dynex Capital’s dividend payout ratio (DPR) is 971.43%.

Insiders Place Their Bets

In other Dynex Capital news, CEO Byron L. Boston purchased 9,180 shares of Dynex Capital stock in a transaction dated Tuesday, October 20th. The shares were acquired at an average cost of $10.89 per share, with a total value of $99,970.20. Following the completion of the transaction, the chief executive officer owned 892,747 shares in the company, valued at approximately $9,722,014.83. This trade represents a 1.04% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CIO Terrence John Connelly, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were acquired at an average price of $11.18 per share, with a total value of $27,950.00. Following the acquisition, the executive owned 58,695 shares in the company, valued at approximately $656,210.10. The trade was a 4.45% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 24,680 shares of company stock valued at $295,220. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Dynex Capital

Institutional investors have recently made changes to their positions in the business. Integrity Alliance LLC. increased its position in Dynex Capital by 6.9% during the 2nd quarter. Integrity Alliance LLC. now owns 16,683 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 1,081 shares in the last quarter. IMG Wealth Management Inc. raised its stake in Dynex Capital by 55.9% in the first quarter. IMG Wealth Management Inc. now owns 3,410 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 1,222 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Dynex Capital by 10.4% in the second quarter. Pictet Asset Management Holding SA now owns 23,872 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 2,245 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Dynex Capital by 891.8% in the second quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 2,604 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Dynex Capital by 5.1% in the second quarter. Allworth Financial LP now owns 55,923 shares of the real estate investment trust’s stock worth $733,000 after acquiring an additional 2,689 shares in the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

Key Stories Impacting Dynex Capital

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: CEO Byron Boston purchased 9,180 shares for approximately $100,000, adding to his already substantial position. The purchase may signal management’s view that the stock is undervalued after its recent decline. Byron Boston insider purchase
• Positive Sentiment: CFO Michael Sartori bought 1,000 shares for $10,700, while CEO Smriti Popenoe previously purchased 12,000 shares for $156,600. These insider transactions increase executive ownership and could support investor confidence. Dynex Capital insider buying
• Neutral Sentiment: Management said stable funding, limited refinancing needs and attractive mortgage-backed securities spreads could support future earnings, although those benefits depend on market conditions and portfolio values. Dynex Capital earnings call highlights
• Negative Sentiment: Third-quarter results fell short of expectations. Dynex reported adjusted earnings of $0.38 per share versus a $0.39 consensus and revenue of $101.56 million versus estimates of $113.48 million. The company also reported a $335.5 million net loss, while book value per share dropped to $10.91 from $12.90 as wider agency MBS spreads reduced portfolio values. Dynex Capital shares gap down following weak earnings
• Negative Sentiment: JonesTrading reduced its price target from $14.75 to $12.50, and a law firm announced an investigation into potential securities-law violations related to the company’s October 19 disclosures. The investigation is only an allegation at this stage, but it adds reputational and legal uncertainty. JonesTrading price target update Dynex Capital securities investigation

About Dynex Capital

Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.

Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.