Dynex Capital, Inc. $DX Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Dynex Capital stake by 321% in the first quarter, acquiring 582,129 additional shares for a total of 763,452 shares valued at approximately $9.7 million.
• Institutional investors own 38.34% of Dynex Capital, with Vanguard, Geode Capital, State Street, Millennium Management, and Balyasny Asset Management also increasing their positions.
• Analysts’ average rating is “Moderate Buy” with a $14.56 price target, while Dynex reported quarterly EPS of $0.36 and declared a $0.17 monthly dividend, implying a 15.7% annualized yield.

Bank of America Corp DE boosted its holdings in Dynex Capital, Inc. (NYSE:DX - Free Report) by 321.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 763,452 shares of the real estate investment trust's stock after acquiring an additional 582,129 shares during the quarter. Bank of America Corp DE owned about 0.35% of Dynex Capital worth $9,742,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DX. Vanguard Group Inc. boosted its holdings in Dynex Capital by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust's stock worth $117,555,000 after buying an additional 876,931 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dynex Capital by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust's stock valued at $48,892,000 after acquiring an additional 257,719 shares during the period. State Street Corp boosted its stake in shares of Dynex Capital by 11.5% during the 4th quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust's stock worth $42,484,000 after acquiring an additional 313,319 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Dynex Capital by 79.8% during the 3rd quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust's stock worth $27,468,000 after acquiring an additional 992,269 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Dynex Capital by 87.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,136,636 shares of the real estate investment trust's stock worth $29,934,000 after acquiring an additional 998,736 shares during the period. Institutional investors and hedge funds own 38.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DX. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Dynex Capital in a report on Tuesday, July 21st. Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. BTIG Research set a $14.50 price target on Dynex Capital in a research note on Wednesday, June 17th. Finally, JonesTrading reiterated a "buy" rating and issued a $14.75 price objective 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 given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $14.56.

Dynex Capital Stock Down 0.1%

DX stock opened at $13.02 on Monday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 4.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16. Dynex Capital, Inc. has a one year low of $11.82 and a one year high of $14.93. The company has a 50 day moving average price of $13.02 and a two-hundred day moving average price of $13.20.

Dynex Capital (NYSE:DX - Get Free Report) last issued its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting analysts' consensus estimates of $0.36. The company had revenue of $302.75 million for the quarter, compared to analyst estimates 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 declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 15.7%. The ex-dividend date of this dividend is Friday, August 21st. Dynex Capital's dividend payout ratio (DPR) is presently 77.57%.

Dynex Capital Profile

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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