Algebris UK Ltd Makes New $6.51 Million Investment in Dynex Capital, Inc. (NYSE:DX)

Key Points

• Algebris UK Ltd invested approximately $6.51 million in Dynex Capital, Inc., acquiring 540,192 shares during the first quarter, making it the 26th largest position in their portfolio.
• Dynex Capital's recent quarterly earnings reported $0.22 EPS, missing analysts' estimates of $0.49, while the firm also announced a monthly dividend of $0.17 per share with a yield of 16.09%.
• Research analysts have varied opinions on Dynex Capital, with a consensus rating of "Hold" and a target price averaging $12.83, reflecting differing outlooks on the stock's performance.

Algebris UK Ltd purchased a new stake in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 540,192 shares of the real estate investment trust's stock, valued at approximately $6,511,000. Dynex Capital comprises 1.2% of Algebris UK Ltd's portfolio, making the stock its 26th largest position. Algebris UK Ltd owned about 0.51% of Dynex Capital at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of DX. Vanguard Group Inc. lifted its position in Dynex Capital by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust's stock valued at $54,615,000 after purchasing an additional 260,798 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Dynex Capital by 0.4% in the 1st quarter. Victory Capital Management Inc. now owns 2,036,371 shares of the real estate investment trust's stock worth $26,514,000 after buying an additional 8,262 shares during the period. Geode Capital Management LLC lifted its holdings in Dynex Capital by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 1,838,020 shares of the real estate investment trust's stock worth $23,256,000 after buying an additional 136,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Dynex Capital by 6.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,427,121 shares of the real estate investment trust's stock worth $18,053,000 after buying an additional 81,510 shares during the period. Finally, Invesco Ltd. lifted its holdings in Dynex Capital by 9.4% in the 4th quarter. Invesco Ltd. now owns 1,270,019 shares of the real estate investment trust's stock worth $16,066,000 after buying an additional 108,747 shares during the period. 38.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DX shares. UBS Group increased their price objective on Dynex Capital from $11.00 to $12.50 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Jones Trading lifted their price objective on Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $12.83.

Dynex Capital Stock Up 0.1%

DX stock traded up $0.01 during midday trading on Friday, hitting $12.45. The stock had a trading volume of 3,230,520 shares, compared to its average volume of 3,574,006. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 15.99 and a beta of 0.92. The business has a 50-day moving average of $12.36 and a two-hundred day moving average of $12.73. Dynex Capital, Inc. has a 52-week low of $10.79 and a 52-week high of $14.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.30 and a quick ratio of 1.24.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.27). The business had revenue of $23.13 million during 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%. As a group, equities research analysts forecast that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Dividend Announcement

The business 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 dividend of $0.17 per share. The ex-dividend date is Wednesday, July 23rd. This represents a c) dividend on an annualized basis and a yield of 16.4%. Dynex Capital's payout ratio 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.