Jennison Associates LLC Acquires Shares of 135,515 Dynex Capital, Inc. (NYSE:DX)

Jennison Associates LLC purchased a new position in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 135,515 shares of the real estate investment trust's stock, valued at approximately $1,764,000. Jennison Associates LLC owned approximately 0.14% of Dynex Capital as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of DX. Victory Capital Management Inc. raised its position in shares of Dynex Capital by 0.4% during the first quarter. Victory Capital Management Inc. now owns 2,036,371 shares of the real estate investment trust's stock worth $26,514,000 after purchasing an additional 8,262 shares during the period. Sigma Planning Corp acquired a new position in shares of Dynex Capital during the first quarter worth approximately $229,000. CWM LLC raised its position in shares of Dynex Capital by 271.9% during the first quarter. CWM LLC now owns 3,154 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 2,306 shares during the period. Arizona State Retirement System raised its position in shares of Dynex Capital by 4.9% during the first quarter. Arizona State Retirement System now owns 22,747 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 1,065 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Dynex Capital by 20.9% during the first quarter. Envestnet Asset Management Inc. now owns 32,776 shares of the real estate investment trust's stock worth $427,000 after purchasing an additional 5,655 shares during the period. 38.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DX. Keefe, Bruyette & Woods upped their target price on Dynex Capital from $12.50 to $13.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Wall Street Zen lowered Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Jones Trading increased their price target on Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a research report on Monday. Finally, UBS Group increased their price target on Dynex Capital from $11.00 to $12.50 and gave the company a "neutral" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $12.83.

Dynex Capital Stock Up 0.6%

NYSE DX traded up $0.08 on Friday, reaching $12.75. The company had a trading volume of 4,115,761 shares, compared to its average volume of 4,016,727. The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.34 and a beta of 0.92. The company's fifty day moving average is $12.34 and its 200 day moving average is $12.72. Dynex Capital, Inc. has a 52-week low of $10.79 and a 52-week high of $14.52.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.27). The company had revenue of $23.13 million during the quarter, compared to analysts' expectations of $21.20 million. Dynex Capital had a net margin of 17.27% and a return on equity of 4.53%. On average, research analysts expect that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Shareholders of record on Wednesday, July 23rd will be paid a $0.17 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $2.04 dividend on an annualized basis and a yield of 16.01%. Dynex Capital's dividend payout ratio (DPR) is presently 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.