Dynex Capital (NYSE:DX) Sees Unusually-High Trading Volume – Here’s Why

Shares of Dynex Capital, Inc. (NYSE:DX) saw an uptick in trading volume on Monday . 1,199,762 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 1,453,056 shares.The stock last traded at $12.65 and had previously closed at $12.63.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research report on Wednesday, August 28th. StockNews.com lowered shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.35.

Dynex Capital Trading Down 0.6 %

The company has a 50 day moving average of $12.49 and a 200 day moving average of $12.20. The firm has a market cap of $931.63 million, a price-to-earnings ratio of 207.83 and a beta of 1.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Dynex Capital (NYSE:DX) last posted its earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.39). The firm had revenue of $83.46 million during the quarter, compared to the consensus estimate of $4.92 million. Dynex Capital had a negative return on equity of 6.08% and a net margin of 4.63%. During the same period in the previous year, the company posted ($0.28) EPS. As a group, research analysts anticipate that Dynex Capital, Inc. will post 1 EPS for the current year.

Dynex Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a yield of 14.43%. This is a boost from Dynex Capital’s previous monthly dividend of $0.13. The ex-dividend date is Friday, November 22nd. Dynex Capital’s dividend payout ratio is currently 2,600.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its position in Dynex Capital by 62.1% in the 2nd quarter. Millennium Management LLC now owns 2,575,848 shares of the real estate investment trust’s stock valued at $30,756,000 after purchasing an additional 986,471 shares during the last quarter. EMG Holdings L.P. bought a new position in shares of Dynex Capital in the second quarter valued at about $4,738,000. International Assets Investment Management LLC raised its holdings in shares of Dynex Capital by 1,152.5% in the third quarter. International Assets Investment Management LLC now owns 406,532 shares of the real estate investment trust’s stock valued at $5,187,000 after buying an additional 374,074 shares during the last quarter. Van ECK Associates Corp lifted its position in Dynex Capital by 69.1% during the 2nd quarter. Van ECK Associates Corp now owns 719,151 shares of the real estate investment trust’s stock worth $8,587,000 after buying an additional 293,888 shares in the last quarter. Finally, Algebris UK Ltd bought a new stake in Dynex Capital during the 1st quarter worth about $2,477,000. Institutional investors own 38.34% 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.