Dynex Capital
Market Cap
US$381.2m
Last Updated
2019/10/22 23:34 UTC
Data Sources
Company Financials +
Executive Summary
Dynex Capital, Inc., a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States.
Snowflake
Fundamentals
Limited growth unattractive dividend payer.
Similar Companies
Share Price & News
How has Dynex Capital's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
1.4%
DX
1.9%
US Mortgage REITs
0.07%
US Market
1 Year Return
-11.1%
DX
-1.3%
US Mortgage REITs
8.9%
US Market
Return vs Industry: DX underperformed the US Mortgage REITs industry which returned -1.3% over the past year.
Return vs Market: DX underperformed the US Market which returned 8.9% over the past year.
Shareholder returns
| DX | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.4% | 1.9% | 0.07% |
| 30 Day | 4.6% | 0.6% | -0.3% |
| 90 Day | -10.4% | -0.1% | -1.6% |
| 1 Year | 1.4%-11.1% | 9.9%-1.3% | 11.3%8.9% |
| 3 Year | 3.2%-27.1% | 38.4%-0.08% | 46.3%36.8% |
| 5 Year | 11.4%-38.9% | 57.3%-9.5% | 62.1%44.3% |
Price Volatility Vs. Market
How volatile is Dynex Capital's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Could The Dynex Capital, Inc. (NYSE:DX) Ownership Structure Tell Us Something Useful?2 months ago | Simply Wall St
The Executive VP of Dynex Capital, Inc. (NYSE:DX), Stephen Benedetti, Just Bought 3.349102% More Shares3 months ago | Simply Wall St
How Much Are Dynex Capital, Inc. (NYSE:DX) Insiders Spending On Buying Shares?Valuation
Is Dynex Capital undervalued compared to its fair value and its price relative to the market?
0.86x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: DX ($15.46) is trading above our estimate of fair value ($7.96)
Significantly Below Fair Value: DX is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: DX is unprofitable, so we can't compare its PE Ratio to the Mortgage REITs industry average.
PE vs Market: DX is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate DX's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: DX is good value based on its PB Ratio (0.9x) compared to the US Mortgage REITs industry average (1x).
Next Steps
Future Growth
How is Dynex Capital forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
115.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DX is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: DX is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: DX is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: DX's revenue (49.2% per year) is forecast to grow faster than the US market (7.2% per year).
High Growth Revenue: DX's revenue (49.2% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DX's Return on Equity is forecast to be low in 3 years time (12.4%).
Next Steps
Past Performance
How has Dynex Capital performed over the past 5 years?
-19.4%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: DX is unprofitable, and losses have increased over the past 5 years at a rate of -19.4% per year.
Accelerating Growth: Unable to compare DX's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: DX is unprofitable, making it difficult to compare its past year earnings growth to the Mortgage REITs industry (5.2%).
Return on Equity
High ROE: DX has a negative Return on Equity (-37.44%), as it is currently unprofitable.
Return on Assets
ROA vs Industry: DX is currently unprofitable, so its Return on Assets is negative.
Return on Capital Employed
ROCE Improving: DX is currently unprofitable, so its Return on Capital Employed is negative.
Next Steps
Financial Health
How is Dynex Capital's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: DX has a low level of unsold assets or inventory.
Debt Coverage by Assets: DX's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: DX's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if DX has a sufficient allowance for bad loans.
Low Risk Liabilities: DX reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if DX has an acceptable proportion of non-loan assets held.
Low Risk Deposits: DX has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if DX has an appropriate level of bad loans.
Next Steps
Dividend
What is Dynex Capital's current dividend yield, its reliability and sustainability?
11.64%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: DX's dividend (11.64%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: DX's dividend (11.64%) is in the top 25% of dividend payers in the US market (3.68%)
Stable Dividend: DX's dividend payments have been volatile in the past 10 years.
Growing Dividend: DX's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: DX is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: DX's dividends in 3 years are not forecast to be well covered by earnings (94.3% payout ratio).
Next Steps
Management
What is the CEO of Dynex Capital's salary, the management and board of directors tenure and is there insider trading?
5.8yrs
Average management tenure
CEO
Byron Boston (60yo)
5.8yrs
Tenure
US$1,751,298
Compensation
Mr. Byron L. Boston has been the Chief Executive Officer and Co-Chief Investment Officer of Dynex Capital, Inc. since January 01, 2014. Mr. Boston has been the President of Dynex Capital, Inc. since March ...
CEO Compensation Analysis
Compensation vs. Market: Byron's total compensation ($USD1.75M) is about average for companies of similar size in the US market ($USD1.81M).
Compensation vs Earnings: Byron's compensation has been consistent with company performance over the past year.
Management Age and Tenure
5.8yrs
Average Tenure
56yo
Average Age
Experienced Management: DX's management team is seasoned and experienced (5.8 years average tenure).
Board Age and Tenure
5.8yrs
Average Tenure
61yo
Average Age
Experienced Board: DX's board of directors are considered experienced (5.8 years average tenure).
Insider Trading
Insider Buying: DX insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 4,000 |
| Max Price | US$14.68 |
| Entity | Individual |
| Role | Co-Chief Investment Officer Executive VP & Co-Chief Investment Officer |
| Shares | 1,400 |
| Max Price | US$14.69 |
| Entity | Individual |
| Role | Chief Executive Officer President |
| Shares | 5,666.67 |
| Max Price | US$17.70 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 1,130 |
| Max Price | US$17.70 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP |
| Shares | 3,333.33 |
| Max Price | US$17.70 |
| Entity | Individual |
| Role | Co-Chief Investment Officer Executive VP & Co-Chief Investment Officer |
| Shares | 847.33 |
| Max Price | US$17.70 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 666.67 |
| Max Price | US$17.70 |
Ownership Breakdown
Management Team
Steve Benedetti (56yo)
Executive VP
- Tenure: 11.4yrs
- Compensation: US$918.05k
Byron Boston (60yo)
President
- Tenure: 5.8yrs
- Compensation: US$1.75m
Jeffrey Childress
VP & Controller
- Tenure: 0yrs
Alison Griffin
Vice President of Investor Relations
- Tenure: 0yrs
Smriti Popenoe (50yo)
Executive VP & Co-Chief Investment Officer
- Tenure: 5.8yrs
- Compensation: US$916.47k
Wayne Brockwell
Senior Vice President of Portfolio
- Tenure: 0yrs
Board Members
Barry Igdaloff (64yo)
Independent Director
- Tenure: 18.9yrs
- Compensation: US$146.00k
Dave Stevens (62yo)
Director
- Tenure: 0.8yrs
Byron Boston (60yo)
President
- Tenure: 5.8yrs
- Compensation: US$1.75m
Michael Hughes (58yo)
Chairman of the Board
- Tenure: 2.4yrs
- Compensation: US$151.00k
Valerie Mosley (59yo)
Independent Director
- Tenure: 5.8yrs
- Compensation: US$131.00k
Robert Salcetti (64yo)
Independent Director
- Tenure: 5.8yrs
- Compensation: US$131.00k
Company Information
Dynex Capital, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Dynex Capital, Inc.
- Ticker: DX
- Exchange: NYSE
- Founded: 1987
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Market Cap: US$381.170m
- Shares outstanding: 24.66m
- Website: https://www.dynexcapital.com
Number of Employees
Location
- Dynex Capital, Inc.
- 4991 Lake Brook Drive
- Suite 100
- Glen Allen
- Virginia
- 23060
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| DX | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Feb 1988 |
| DYT1 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Feb 1988 |
| DX.PRA | NYSE (New York Stock Exchange) | PFD SER A | US | USD | Jul 2012 | |
| DX.PRB | NYSE (New York Stock Exchange) | PFD SER B 7.625% | US | USD | Apr 2013 |
Biography
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 re ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/22 23:34 |
| End of Day Share Price | 2019/10/22 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.