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Dynex Cap

Dynex Capital Inc is an internally managed mortgage real estate investment trust, which invests in mortgage-backed securities. The company invests in residential and commercial mortgage-backed securities. Its objective is to provide attractive risk-adjusted returns to shareholders over the long term that are reflective of a leveraged, high quality fixed income portfolio with a focus on capital preservation. Its investments consist principally of Agency mortgage-backed securities including residential MBS and commercial MBS.

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Dynex Capital, Inc. 6.900% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Jones Trading analyst Jason Weaver maintains Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Buy and maintains $13.25 price target.

News

Price Target

Analyst Ratings

Jones Trading Maintains Buy on Dynex Cap, Maintains $13.25 Price Target

"Our economic return of 7.1% for the quarter continues to highlight the skills and experience that we believe are necessary to navigate the current environment. We continue to expect a favorable investing environment which supports increasing our monthly dividend from $0.13 to $0.15 per common share," said Byron L. Boston, Chairman and Co-CEO.

Dividends

Dynex Capital Increases Quarterly Common Stock Dividend From $0.13 To $0.15 Per Share

Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) reported quarterly losses of $(0.10) per share which missed the analyst consensus estimate of $(0.03) by 233.33 percent. This is a 64.29 percent increase over losses of $(0.28) per share from the same period last year. The company reported $894.000 thousand in sales this quarter. This is a 60.48 percent decrease over sales of $2.262 million the same period last year.

Earnings

Earnings Misses

Dynex Cap Q3 2024 Adj. EPS $(0.10) Misses $(0.03) Estimate, Sales $894.000K Down From $2.262M YoY

Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) is set to give its latest quarterly earnings report on Monday, 2024-10-21. Here's what investors need to know before the announcement.
Analysts estimate that Dynex Cap will report an earnings per share (EPS) of $-0.02. 
Dynex Cap bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Performance in Previous Earnings</h3>
Last quarter the company beat EPS by $0.07, which was followed by a 1.06% increase in the share price the next day.
Here's a look at Dynex Cap's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.19</td>
<td>-0.09</td>
<td>-0.20</td>
<td>-0.11</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.12</td>
<td>-0.30</td>
<td>-0.24</td>
<td>-0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>3.0%</td>
<td>-3.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729275898_0.png" alt="eps graph" />
<h3>Dynex Cap Share Price Analysis</h3>
Shares of Dynex Cap were trading at $12.66 as of October 17. Over the last 52-week period, shares are up 23.3%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/DX/earnings">To track all earnings releases for Dynex Cap visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Dynex Cap's Earnings Expectations

Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) is set to give its latest quarterly earnings report on Monday, 2024-10-21. Here's what investors need to know before the announcement.
Analysts estimate that Dynex Cap will report an earnings per share (EPS) of $-0.02. 
The announcement from Dynex Cap is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
Last quarter the company beat EPS by $0.07, which was followed by a 1.06% increase in the share price the next day.
Here's a look at Dynex Cap's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.19</td>
<td>-0.09</td>
<td>-0.20</td>
<td>-0.11</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.12</td>
<td>-0.30</td>
<td>-0.24</td>
<td>-0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>3.0%</td>
<td>-3.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729263837_0.png" alt="eps graph" />
<h3>Tracking Dynex Cap's Stock Performance</h3>
Shares of Dynex Cap were trading at $12.66 as of October 17. Over the last 52-week period, shares are up 23.35%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/DX/earnings">To track all earnings releases for Dynex Cap visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dynex Cap Earnings Preview

Real estate has been having a decent 2024. The S&amp;P 500 Real Estate Select Sector SPDR (ARCA:XLRE) has advanced 11.1% year to date as of Sept. 4. The sector declined till the end of June. However, optimism about the Fed introducing rate cuts in the economy and falling mortgage rates seem to have triggered a turnaround.
Buoyed by signals from the Fed, the benchmark 30-year average mortgage rate fell to 6.5% late last week, its lowest level since May 2023. The 30-year fixed-rate mortgage fell further on Aug. 30 to 6.37%. The National Association of Realtors (&quot;NAR&quot;) expects the 30-year fixed mortgage rate to average 6.9% in its recent quarterly forecast published in June. This is an upward revision from its previous forecast of 6.7%. NAR has also revised its forecast upward for the fourth quarter to 6.5-6.7%. It expects that the second half of 2024 will witness moderately lower mortgage rates, higher home sales and price stability.
Elevated mortgage rates have reduced affordability and hence, dampened home sales. It has also put pressure on existing homeowners with adjustable-rate mortgages who have seen their monthly payments go through the roof. Overall confidence in the housing market remains fairly subdued, according to the NAHB/Wells Fargo Housing Market Index (HMI). The index changed only slightly in July, falling to 42 from 43 in June.
However, with rate cuts almost certainly starting from September, coupled with the fact that mortgage rates are coming down, there might be better times ahead for home buyers. Even in case of an unlikely recession, a higher inventory of homes would bring prices further down, luring first-time buyers. One must, thus, start considering parking part of their investments in promising stocks in the sector.
<h2>Our Picks</h2>
We have narrowed our search to three real estate or related stocks that have good potential. These stocks have seen positive earnings estimate revisions in the past 60 days. Our picks carry either a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Two Harbors Investment Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/two#NYSE">TWO</a>) is a real estate investment trust that invests in mortgage servicing rights, residential mortgage-backed securities and other financial assets.
TWO has an expected earnings growth rate of 757.1% for the current year. The Zacks Consensus Estimate for its current-year earnings has surged 178% over the past 60 days. TWO currently sports a Zacks Rank #1.
Tanger Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/skt#NYSE">SKT</a>) is a real estate investment trust primarily investing in shopping centers.
SKT has an expected earnings growth rate of 6.6% for the current year. The Zacks Consensus Estimate for its current-year earnings has improved 1.5% over the past 60 days. SKT currently holds a Zacks Rank #2.
Dynex Capital, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dx#NYSE">DX</a>) is a mortgage real estate investment trust.
DX has an expected earnings growth rate of 205.3% for the current year. The Zacks Consensus Estimate for its current-year earnings has improved 33.3% over the past 60 days. DX currently holds a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2331985/3-real-estate-stocks-to-grab-now-on-slowing-mortgage-rates?cid=CS-BENZ-FT-analyst_blog|investment_ideas-2331985">To read this article on Zacks.com click here.</a>

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JMP Securities analyst Trevor Cranston reiterates Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Market Perform.

Reiteration

JMP Securities Reiterates Market Perform on Dynex Cap

Jones Trading analyst Jason Weaver maintains Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Buy and lowers the price target from $14 to $13.25.

Jones Trading Maintains Buy on Dynex Cap, Lowers Price Target to $13.25

Dynex Q2 Total Economic Earnings Per Share $(0.31), Comprehensive Earnings $(0.18)

Dynex Capital, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) (&quot;Dynex&quot; or the &quot;Company&quot;) today announced the promotion of Smriti Laxman Popenoe and several other executive promotions. The changes reflect the Company&#39;s commitment to a human capital management strategy that is appropriate for the current global environment.
Smriti Laxman Popenoe Promoted to Co-CEO
Ms. Popenoe, who has served as the Company&#39;s President and Chief Investment Officer, has been promoted to Co-Chief Executive Officer, effective immediately. She will lead Dynex together with Byron Boston, who remains Chairman and Co-CEO, to continue building on the Company&#39;s proven strategy, operations, and culture. Ms. Popenoe will retain her role as President and CIO, overseeing the Company&#39;s investment portfolio and capital management, and continue as a member of the Board of Directors.
Ms. Popenoe has more than 30 years of experience in capital markets and investing, including senior roles at Wachovia and Freddie Mac. She is a recognized leader in the REIT sector and has been instrumental in driving Dynex&#39;s strong performance, risk management, and innovation.
&quot;Managing our company for the long term in this complex and dynamic global environment requires experience, continuity, and collaboration,&quot; said Julia Coronado, Lead Independent Director of Dynex. &quot;Smriti has demonstrated these qualities in abundance and has proven to be an exceptional leader working alongside Byron. This Co-CEO model will enable them to continue to enhance the company&#39;s strategy, execution, and culture, and deliver value for our shareholders, employees, and stakeholders.&quot;
&quot;Smriti and I have now been teammates for 27 years, and this is a natural step given the key role she has played in growing Dynex,&quot; said Byron Boston, Chairman and Co-CEO of Dynex. &quot;In her new role, Smriti will focus on operations and performance, while continuing her day-to-day role as CIO. She has earned the respect and support of Dynex&#39;s investors, employees, and other key stakeholders. I look forward to continuing to work side by side with her as we leverage and extend the performance culture of Dynex.&quot;
Rob Colligan Promoted to COO
Dynex also announced the promotion of Rob Colligan, who has served as the Company&#39;s Chief Financial Officer since 2022, to Chief Financial Officer and Chief Operating Officer, effective immediately. In his expanded role, Mr. Colligan will oversee the Company&#39;s finance, accounting, legal, human resources, investor relations, and marketing functions, in addition to the newly created technology function. He will continue to report to Co-CEOs Byron Boston and Smriti Popenoe.
Mr. Colligan has more than 30 years of experience in the financial services industry, with a focus on the mortgage and capital markets. He has held senior leadership positions at Merrill Lynch, Bear Stearns, Starwood Capital, and Chimera Investment Corporation, where he was instrumental in building and managing the companies&#39; respective finance platforms across multiple asset classes. He joined Dynex in 2022 and has been responsible for successfully leading the Company&#39;s financial strategy, reporting, and operating activities.
&quot;Since joining Dynex, Rob has employed his extensive finance and operations capabilities,&quot; said Smriti Popenoe, Co-CEO, President and CIO, and Byron Boston, Chairman and Co-CEO. &quot;He has streamlined and transformed our HR, IT, legal, investor relations, and marketing teams. Formalizing his leadership as COO will serve Dynex shareholders well into the future. Rob has been an integral part of the strategy to build a strong and resilient company that can adapt to changing market conditions and capitalize on new opportunities. He brings broad and deep experience and expertise that will help us enhance our operating platform to capture new opportunities and drive long-term value creation.&quot;
Harman Sahni Joins as Chief Technology Officer
Dynex also announced the hiring of Harman Sahni as Chief Technology Officer, effective immediately. Mr. Sahni will be responsible for leading the Company&#39;s technology strategy, infrastructure, and innovation, and will report to Rob Colligan, CFO and COO.

Management

Dynex Capital Names Chief Investment Officer Smriti Laxman Popenoe To Additional Post Of Co-CEO and Promotes CFO Rob Colligan to Additional Position Of COO

Macro Economic Events

Econ #s

Economics

BBJP

Reported Earlier, Japan Adjusted Current Account For April 252.41T Vs. 2.09T Est.; 201.06T Prior

Dynex Capital Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) shares are trading lower by 4.1% to $11.95 during Thursday&#8217;s session after the company announced it has priced an underwritten public offering of <a href="https://www.benzinga.com/pressreleases/24/06/b39197159/dynex-capital-inc-announces-pricing-of-public-offering-of-common-stock">10.5 million shares of common stock</a>, aiming to raise approximately $126 million before deductions for underwriting discounts, commissions and expenses. 
Additionally, the company has given underwriters a 30-day option to purchase up to an extra 1.575 million shares. The offering, pending customary closing conditions, is expected to close on June 7. BTIG is serving as the sole book-running manager for the offering.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39201769/bitcoin-spot-etfs-record-17-straight-inflow-days-reaching-15-3b-year-to-date">Bitcoin Spot ETFs Record 17 Straight Inflow Days, Reaching $15.3B Year-To-Date</a>
<h2 class="wp-block-heading">Will DX Stock Go Up?</h2>
When trying to assess whether or not Dynex will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $13.58 on Dynex Cap. The Street high target is currently at $14.5 and the Street low target is $12.25. Of all the analysts covering Dynex Cap, 3 have positive ratings, no one has neutral ratings and no one has negative ratings.
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/DX/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Dynex Cap have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Dynex Cap is 0.62% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Dynex Cap, visit <a href="https://www.benzinga.com/quote/DX">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
DX has a 52-week high of $13.56 and a 52-week low of $9.57.

Why Dynex Capital (DX) Shares Are Moving

WIIM

Dynex Capital shares are trading lower after the company priced a $126 million offering.

Janney Montgomery Scott analyst Jason Stewart initiates coverage on Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Buy rating.

Initiation

Janney Montgomery Scott Initiates Coverage On Dynex Cap with Buy Rating

The Company granted the underwriters in the offering a 30-day option to purchase up to an additional 1,575,000 shares of its common stock. The offering is subject to customary closing conditions and is expected to close on June 7, 2024.

Reported Earlier, Dynex Capital Prices $126M Public Offering Of 10.5M Common Share

Dynex Capital shares are trading lower after the company announced a public offering of common stock.

Offerings

Dynex Capital, Inc. Announces Public Offering Of 10.5M Shares Of Common Stock

Dynex Capital Appoints Former Charles Schwab Investment Management President And CEO Marie Chandoha To Board

Keefe, Bruyette &amp; Woods analyst Bose George maintains Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Outperform and lowers the price target from $13.5 to $12.25.

Keefe, Bruyette & Woods Maintains Outperform on Dynex Cap, Lowers Price Target to $12.25

JonesTrading analyst Jason Weaver maintains Dynex Cap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DX#NYSE">DX</a>) with a Buy and maintains $14 price target.

JonesTrading Maintains Buy on Dynex Cap, Maintains $14 Price Target

Reports Q3 book value per share $13.00. "Our economic return of 7.1% for the quarter continues to highlight the skills and experience that we belie...

Dynex Capital reports Q3 EPS (10c), consensus (3c)

Dynex Capital, Inc. 2024 Q3 - Results - Earnings Call Presentation

Dynex Capital's portfolio benefits from spread tightening in Q3; earnings in line

Dynex Capital, Inc. (DX) Q3 2024 Earnings Call Transcript

Encouraging Signs For Mortgage REITs

In a report released today, Jason Stewart from Janney Montgomery reiterated a Buy rating on Dynex Capital (DX – Research Report), with a price targ...

Janney Montgomery Reaffirms Their Buy Rating on Dynex Capital (DX)

Undercovered Dozen: CorMedix, Cabaletta, Skyx Platforms, Dynex Capital +

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Press Releases

Dynex Capital, Inc. Schedules Second Quarter 2024 Earnings Release and Conference Call

Dynex Capital, Inc. Declares Monthly Common Stock Dividend of $0.13

Dynex Capital Promotes Smriti Laxman Popenoe to Co-CEO and Announces Other Executive Promotions

Dynex Capital, Inc. Announces Second Quarter 2024 Results

Dynex Capital, Inc. Declares Common and Preferred Stock Dividends

Dynex Capital, Inc. Schedules Third Quarter 2024 Earnings Release and Conference Call

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