Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Dynex Capital, Inc. $DX

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,635 shares of the real estate investment trust's stock, valued at approximately $1,228,000.

A number of other hedge funds also recently added to or reduced their stakes in DX. BlackRock Inc. boosted its stake in shares of Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust's stock worth $241,722,000 after acquiring an additional 2,355,906 shares in the last quarter. Vanguard Group Inc. increased its stake in Dynex Capital by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust's stock valued at $117,555,000 after purchasing an additional 876,931 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dynex Capital by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust's stock worth $48,892,000 after purchasing an additional 257,719 shares during the last quarter. State Street Corp raised its holdings in Dynex Capital by 11.5% during the fourth quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust's stock worth $42,484,000 after purchasing an additional 313,319 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Dynex Capital by 79.8% during the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust's stock worth $27,468,000 after purchasing an additional 992,269 shares in the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Dynex Capital in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Dynex Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. BTIG Research set a $14.50 target price on shares of Dynex Capital in a report on Wednesday, June 17th. Finally, JonesTrading restated a "buy" rating and set a $14.75 target price on shares of Dynex Capital in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $14.56.

Dynex Capital Price Performance

Shares of NYSE DX opened at $12.91 on Monday. 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, Inc. has a 1-year low of $11.82 and a 1-year high of $14.93. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 4.91 and a beta of 0.96. The business has a 50-day moving average of $13.00 and a 200-day moving average of $13.17.

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

Dynex Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 21st. This represents a c) annualized dividend and a yield of 15.8%. Dynex Capital's dividend payout ratio is presently 77.57%.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company's primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.

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