Bank of America Corp DE Purchases 323,981 Shares of Dynex Capital, Inc. $DX

Key Points

• Bank of America acquired 323,981 Dynex Capital shares worth approximately $4.25 million, giving it a 0.13% stake. Other institutions also added positions, while institutional and hedge-fund ownership reached 38.34%.
• Dynex Capital reported quarterly EPS of $0.36, in line with estimates, and revenue of $302.75 million. The company announced a monthly dividend of $0.17 per share, implying an annualized yield of about 18%.
• DX opened at $11.32, near its one-year low of $11.11; analysts maintain a “Moderate Buy” consensus with an average price target of $14.56, compared with mixed Buy and Hold ratings.

Bank of America Corp DE acquired a new stake in Dynex Capital, Inc. (NYSE:DX - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 323,981 shares of the real estate investment trust's stock, valued at approximately $4,247,000. Bank of America Corp DE owned about 0.13% of Dynex Capital at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DX. Freestone Grove Partners LP acquired a new stake in Dynex Capital in the second quarter valued at about $987,000. Odyssean LLC raised its stake in shares of Dynex Capital by 328.6% during the 2nd quarter. Odyssean LLC now owns 183,328 shares of the real estate investment trust's stock worth $2,403,000 after buying an additional 140,553 shares in the last quarter. Invst LLC purchased a new position in shares of Dynex Capital during the 2nd quarter worth approximately $138,000. Jupiter Topco LLC acquired a new stake in shares of Dynex Capital in the 2nd quarter valued at approximately $1,228,000. Finally, Legal & General Group Plc acquired a new stake in shares of Dynex Capital in the 2nd quarter valued at approximately $2,232,000. 38.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dynex Capital

In other Dynex Capital news, CIO John Jr bought 2,500 shares of the business's stock in a transaction on Friday, September 25th. The stock was bought at an average price of $11.18 per share, for a total transaction of $27,950.00. Following the completion of the transaction, the executive owned 58,695 shares in the company, valued at approximately $656,210.10. The trade was a 4.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.76% of the company's stock.

Dynex Capital Stock Performance

NYSE DX opened at $11.32 on Tuesday. The business has a 50 day moving average price of $12.67 and a 200 day moving average price of $12.94. The company has a market capitalization of $2.80 billion, a P/E ratio of 4.31 and a beta of 0.96. Dynex Capital, Inc. has a 1-year low of $11.11 and a 1-year high of $14.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16.

Dynex Capital (NYSE:DX - Get Free Report) last posted its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting analysts' consensus estimates of $0.36. The company had revenue of $302.75 million for the quarter, compared to the consensus estimate of $103.62 million. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be issued a dividend of $0.17 per share. This represents a $2.04 annualized dividend and a yield of 18.0%. The ex-dividend date is Monday, September 21st. Dynex Capital's dividend payout ratio (DPR) is 77.57%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DX. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dynex Capital in a report on Monday, September 21st. JonesTrading reissued a "buy" rating and issued a $14.75 target price on shares of Dynex Capital in a report on Tuesday, July 21st. BTIG Research set a $14.50 target price on shares of Dynex Capital in a research report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Dynex Capital currently has an average rating of "Moderate Buy" and a consensus price target of $14.56.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that invests primarily in residential and commercial mortgage-backed securities. Its portfolio generally focuses on agency securities, which are issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae.

The company finances its investments through repurchase agreements and other forms of secured borrowing and uses hedging strategies to manage interest-rate and financing risks.

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