Magnetar Financial LLC Buys New Stake in Dynex Capital, Inc. $DX

Key Points

• Magnetar Financial LLC purchased 102,549 shares of Dynex Capital, Inc. for approximately $1,335,000, representing about 0.10% ownership at the end of the latest reporting period.
• Dynex Capital reported a $0.22 EPS for the last quarter, which missed analysts' expectations of $0.49, despite a revenue of $23.13 million.
• The company declared a dividend of $0.17 per share, with a dividend yield of 1,650.0%, set to be paid on September 2nd.

Magnetar Financial LLC bought a new stake in Dynex Capital, Inc. (NYSE:DX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 102,549 shares of the real estate investment trust's stock, valued at approximately $1,335,000. Magnetar Financial LLC owned 0.10% of Dynex Capital as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. MetLife Investment Management LLC raised its holdings in Dynex Capital by 1,510.0% in the 1st quarter. MetLife Investment Management LLC now owns 728,728 shares of the real estate investment trust's stock valued at $9,488,000 after buying an additional 683,466 shares during the period. Algebris UK Ltd purchased a new stake in shares of Dynex Capital in the 1st quarter valued at approximately $6,511,000. Vanguard Group Inc. raised its stake in shares of Dynex Capital by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 4,643,291 shares of the real estate investment trust's stock valued at $60,456,000 after acquiring an additional 325,891 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Dynex Capital by 29.3% in the 4th quarter. Ameriprise Financial Inc. now owns 914,121 shares of the real estate investment trust's stock worth $11,564,000 after acquiring an additional 207,413 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Dynex Capital during the 1st quarter worth approximately $1,822,000. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DX has been the topic of a number of research analyst reports. UBS Group boosted their target price on Dynex Capital from $12.50 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their target price on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Jones Trading boosted their price target on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dynex Capital presently has an average rating of "Moderate Buy" and an average price target of $13.00.

Dynex Capital Stock Up 1.1%

NYSE DX traded up $0.15 on Thursday, hitting $12.76. 4,983,117 shares of the stock were exchanged, compared to its average volume of 3,606,761. Dynex Capital, Inc. has a fifty-two week low of $10.79 and a fifty-two week high of $14.52. The company has a 50-day moving average price of $12.55 and a 200-day moving average price of $12.64. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.66 billion, a PE ratio of 16.35 and a beta of 0.93.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.27). The firm had revenue of $23.13 million for the quarter, compared to analysts' expectations of $21.20 million. Dynex Capital had a return on equity of 4.19% and a net margin of 17.27%. Sell-side analysts anticipate that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Dividend Announcement

The firm also recently disclosed a aug 25 dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 22nd were given a dividend of $0.17 per share. This represents a dividend yield of 1,650.0%. The ex-dividend date of this dividend was Friday, August 22nd. Dynex Capital's dividend payout ratio is currently 261.54%.

Dynex Capital Profile

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.