Dynex Capital, Inc. $DX Shares Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Dynex Capital stake by 13.8% in the second quarter, reaching 783,988 shares valued at approximately $10.3 million. Institutional investors and hedge funds collectively own 38.34% of DX shares.
• Dynex Capital reported quarterly EPS of $0.36, in line with analyst expectations, alongside $302.75 million in revenue. The company also paid a monthly $0.17 dividend, representing an annualized yield of about 16%.
• DX shares opened at $12.78, below the analyst consensus price target of $14.56. Analyst sentiment is mixed but leans positive, with a “Moderate Buy” consensus rating.

Bank of New York Mellon Corp raised its position in Dynex Capital, Inc. (NYSE:DX - Free Report) by 13.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 783,988 shares of the real estate investment trust's stock after purchasing an additional 94,948 shares during the period. Bank of New York Mellon Corp owned 0.32% of Dynex Capital worth $10,278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DX. Callodine Capital Management LP acquired a new position in Dynex Capital during the first quarter worth about $21,320,000. Segall Bryant & Hamill LLC acquired a new stake in Dynex Capital in the 1st quarter valued at about $19,581,000. Royal Bank of Canada lifted its stake in Dynex Capital by 2,358.9% in the 1st quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust's stock worth $19,537,000 after purchasing an additional 1,468,836 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in 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 purchasing an additional 998,736 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 purchasing an additional 992,269 shares during the last quarter. Institutional investors and hedge funds own 38.34% of the company's stock.

Dynex Capital Price Performance

DX stock opened at $12.78 on Thursday. The business has a fifty day moving average of $13.00 and a two-hundred day moving average of $13.14. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 4.86 and a beta of 0.96. Dynex Capital, Inc. has a 52-week low of $11.82 and a 52-week high of $14.93.

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

Dynex Capital Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were issued a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 16.0%. The ex-dividend date was Friday, August 21st. Dynex Capital's dividend payout ratio is currently 77.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DX. BTIG Research set a $14.50 price target on Dynex Capital in a research report on Wednesday, June 17th. Wall Street Zen downgraded Dynex Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Dynex Capital in a report on Wednesday, June 24th. Finally, JonesTrading restated a "buy" rating and issued a $14.75 target price on shares of Dynex Capital in a 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 stock. Based on data from MarketBeat, Dynex Capital has an average rating of "Moderate Buy" and a consensus target price of $14.56.

Dynex Capital Company 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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