Dynex Capital Inc. (NYSE:DX) reported its results for the first quarter. Dynex Capital is a real estate investment trust that invests in mortgage loans and securities on a leveraged basis.
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Dynex Capital Earnings Cheat Sheet for the First Quarter
Results: Net income rose to $16.5 million (33 cents a share) vs. $14.4 million (36 cents a share) in the same quarter a year earlier.
Quoting Management: On the Company’s operating results and the recent offering of common stock, Mr. Thomas Akin, Chairman and Chief Executive Officer, commented, “We believe our results for this quarter strongly demonstrate the benefits of our diversified investment model.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from 32 cents a share to 33 cents over the last ninety days. The average estimate for the fiscal year is $1.37 per share, a rise from $1.30 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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