BlackRock Fund Advisors recently announced the acquisition of new stake in Dynex Capital Inc. (NYSE:DX). The institutional investor has increased its shareholding in the Real Estate company by 37.16% to 4.04 million shares with purchase of 1.09 million shares. This fresh investment now brings its stake to 7.50% valued currently at $53.44 million. In addition, The Vanguard Group, Inc. raised its holdings by 89592.0 to 2.24 million shares. And Balyasny Asset Management LP has lifted its position by 52.21% or 0.76 million shares – to 2.22 million shares.
With over 1.85 million Dynex Capital Inc. (DX) shares trading Monday and a closing price of $11.97 on the day, the dollar volume was approximately $22.11 million. Currently, there are 48.61M common shares owned by the public and among those 45.45M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for DX have a consensus price objective of $15.15. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $14.00. The average price target is 22.52% above its recent price level and an upside to the estimated low will see the stock gain 14.5% over that period. But an upside of 25.19% will see the stock hit the forecast high price target while median target price for the stock is $15.25.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 69,502 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 29,916 shares.
The top 3 mutual fund holders in Dynex Capital Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Invesco KBW High Dividend Yield F. Vanguard Total Stock Market Index owns 1.33 million shares of the company’s stock, all valued at over $17.64 million. iShares Russell 2000 ETF sold 3132.0 shares to see its total holdings shrink to 0.99 million shares valued at over $13.11 million and representing 1.84% of the shares outstanding. Invesco KBW High Dividend Yield F now owns shares totaling to 1.56% of the shares outstanding.
Shares of Dynex Capital Inc. (NYSE: DX) opened at $11.83, down -$0.14 from a prior closing price of $11.97. The company’s stock has a 5-day price change of -8.83% and -8.63% over the past three months. DX shares are trading -5.90% year to date (YTD), with the 12-month market performance down to -25.42% lower. It has a 12-month low price of $10.60 and touched a high of $17.06 over the same period. DX has an average intraday trading volume of 1.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.34%, -13.28%, and -15.76% respectively.
Institutional ownership of Dynex Capital Inc. (NYSE: DX) shares accounts for 41.90% of the company’s 48.61M shares outstanding. Mutual fund holders own 2.64%, while other institutional holders and individual stakeholders account for 24.35% and 19.93% respectively.
It has a market capitalization of $674.63M and a beta (3y monthly) value of 1.21. The stock’s trailing 12-month PE ratio is 3.35, while the earnings-per-share (ttm) stands at $3.58. The company has a debt-to-equity ratio at 3.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.69% over the week and 2.44% over the month.
Analysts forecast that Dynex Capital Inc. (DX) will achieve an EPS of $0.18 for the current quarter, $0.19 for the next quarter and $1.29 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.01 while analysts give the company a high EPS estimate of $0.4. Comparatively, EPS for the current quarter was $0.44 a year ago. Earnings per share for the fiscal year are expected to increase by 14.20%, and 57.70% over the next financial year. EPS should shrink at an annualized rate of -5.88% over the next five years, compared to 18.20% over the past 5-year period.
Looking at the support for the DX, a number of firms have released research notes about the stock. Credit Suisse stated their Outperform rating for the stock in a research note on January 09, 2023, with the firm’s price target at $13.50-$15.50. Keefe Bruyette coverage for the Dynex Capital Inc. (DX) stock in a research note released on June 09, 2022 offered a Outperform rating with a price target of $18.75. Ladenburg Thalmann on their part issued Buy rating on July 29, 2020.
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