Bank of America Corp DE Reduces Position in Dynex Capital, Inc. (NYSE:DX)

Bank of America Corp DE cut its stake in Dynex Capital, Inc. (NYSE:DX - Free Report) by 72.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,146 shares of the real estate investment trust's stock after selling 208,513 shares during the quarter. Bank of America Corp DE owned about 0.10% of Dynex Capital worth $1,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Founders Financial Alliance LLC lifted its stake in shares of Dynex Capital by 4.7% in the 4th quarter. Founders Financial Alliance LLC now owns 21,195 shares of the real estate investment trust's stock valued at $268,000 after purchasing an additional 950 shares during the last quarter. PDS Planning Inc lifted its stake in shares of Dynex Capital by 10.8% in the 4th quarter. PDS Planning Inc now owns 15,822 shares of the real estate investment trust's stock valued at $200,000 after purchasing an additional 1,536 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Dynex Capital by 87.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 1,700 shares during the last quarter. Kovack Advisors Inc. lifted its stake in Dynex Capital by 11.6% during the 4th quarter. Kovack Advisors Inc. now owns 19,585 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 2,043 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Dynex Capital by 2.0% during the 4th quarter. Rhumbline Advisers now owns 107,570 shares of the real estate investment trust's stock worth $1,361,000 after acquiring an additional 2,072 shares in the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Dynex Capital from $13.25 to $12.50 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen lowered Dynex Capital from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. Finally, Jones Trading decreased their target price on Dynex Capital from $13.25 to $12.50 and set a "buy" rating on the stock in a research note on Monday, April 21st.

Dynex Capital Stock Up 0.1%

Shares of DX traded up $0.02 during mid-day trading on Wednesday, reaching $12.32. The company's stock had a trading volume of 3,031,133 shares, compared to its average volume of 2,517,546. The company's 50 day moving average is $12.05 and its 200 day moving average is $12.75. The stock has a market cap of $1.32 billion, a PE ratio of 8.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. Dynex Capital, Inc. has a 12-month low of $10.79 and a 12-month high of $14.52.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.06. The firm had revenue of $17.13 million for the quarter, compared to the consensus estimate of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Equities analysts anticipate that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.04 dividend on an annualized basis and a yield of 16.57%. Dynex Capital's dividend payout ratio is presently 264.94%.

About Dynex Capital

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.