Bank of New York Mellon Corp Purchases 24,496 Shares of Dynex Capital, Inc. (NYSE:DX)

Key Points

• Bank of New York Mellon Corp increased its stake in Dynex Capital by 12.6%, holding approximately 0.23% of the company valued at about $2.86 million.
• Dynex Capital's quarterly earnings report revealed an EPS of $0.22, missing estimates of $0.49, while the company generated $23.13 million in revenue.
• The firm announced a monthly dividend of $0.17 per share, offering a substantial annualized yield of 16.01% with a payout ratio of 261.54%.

Bank of New York Mellon Corp raised its holdings in Dynex Capital, Inc. (NYSE:DX - Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,363 shares of the real estate investment trust's stock after purchasing an additional 24,496 shares during the period. Bank of New York Mellon Corp owned about 0.23% of Dynex Capital worth $2,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Sterling Capital Management LLC raised its position in shares of Dynex Capital by 838.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 2,223 shares in the last quarter. Amalgamated Bank raised its position in shares of Dynex Capital by 50.5% during the 1st quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 973 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Dynex Capital during the 4th quarter valued at approximately $43,000. Tower Research Capital LLC TRC raised its position in shares of Dynex Capital by 452.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,204 shares of the real estate investment trust's stock valued at $91,000 after acquiring an additional 5,901 shares in the last quarter. Finally, Westbourne Investments Inc. acquired a new stake in shares of Dynex Capital during the 4th quarter valued at approximately $133,000. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Stock Down 0.6%

Shares of DX stock traded down $0.08 on Thursday, hitting $12.45. 1,033,473 shares of the stock were exchanged, compared to its average volume of 3,557,199. Dynex Capital, Inc. has a fifty-two week low of $10.79 and a fifty-two week high of $14.52. The firm has a market capitalization of $1.62 billion, a P/E ratio of 15.98 and a beta of 0.92. The company has a current ratio of 1.30, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $12.35 and a 200 day moving average of $12.73.

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 business had revenue of $23.13 million during the quarter, compared to the consensus estimate of $21.20 million. Dynex Capital had a net margin of 17.27% and a return on equity of 4.19%. Equities analysts anticipate that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Dynex Capital Announces Dividend

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 of this dividend is Wednesday, July 23rd. This represents a $2.04 dividend on an annualized basis and a yield of 16.39%. Dynex Capital's dividend payout ratio (DPR) is presently 261.54%.

Wall Street Analyst Weigh In

DX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Jones Trading lifted their price objective on Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Wall Street Zen lowered Dynex Capital from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Finally, UBS Group boosted their price target on Dynex Capital from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $12.83.

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.