Dynex Capital, Inc. $DX Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital trimmed its stake in Dynex by 17.4% (sold 361,796 shares) and now holds 1,719,602 shares (~1.17%), while other institutions like Vanguard and Algebris increased positions and total institutional ownership is about 38.34%.
• Dynex pays a monthly dividend of $0.17 per share, implying a very high annualized yield of about 15.2% with a reported payout ratio of 100%.
• The company missed quarterly EPS estimates ($0.22 vs. $0.48 expected) despite strong revenue, and analysts have an average rating of "Moderate Buy" with a consensus target of $14.33 versus the stock trading near $13.43.

Victory Capital Management Inc. reduced its position in Dynex Capital, Inc. (NYSE:DX - Free Report) by 17.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,719,602 shares of the real estate investment trust's stock after selling 361,796 shares during the period. Victory Capital Management Inc. owned about 1.17% of Dynex Capital worth $21,134,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DX. Vanguard Group Inc. boosted its holdings in shares of Dynex Capital by 21.3% during the third quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust's stock worth $92,345,000 after purchasing an additional 1,318,236 shares during the last quarter. Geode Capital Management LLC increased its stake in Dynex Capital by 26.0% in the second quarter. Geode Capital Management LLC now owns 2,525,805 shares of the real estate investment trust's stock valued at $30,870,000 after purchasing an additional 521,530 shares during the last quarter. Algebris UK Ltd. lifted its position in Dynex Capital by 69.2% during the third quarter. Algebris UK Ltd. now owns 1,669,288 shares of the real estate investment trust's stock worth $20,500,000 after buying an additional 682,655 shares during the period. Ameriprise Financial Inc. lifted its position in Dynex Capital by 5.0% during the second quarter. Ameriprise Financial Inc. now owns 1,625,940 shares of the real estate investment trust's stock worth $19,870,000 after buying an additional 77,481 shares during the period. Finally, Invesco Ltd. boosted its stake in Dynex Capital by 10.6% in the 2nd quarter. Invesco Ltd. now owns 1,486,693 shares of the real estate investment trust's stock worth $18,167,000 after buying an additional 142,360 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DX. JonesTrading upped their price objective on shares of Dynex Capital from $14.00 to $15.25 and gave the company a "buy" rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Dynex Capital in a research report on Thursday, January 29th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Dynex Capital in a report on Monday, December 29th. 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 presently has an average rating of "Moderate Buy" and a consensus target price of $14.33.

Dynex Capital Trading Down 0.1%

Shares of Dynex Capital stock opened at $13.43 on Tuesday. The business's fifty day moving average price is $14.08 and its 200 day moving average price is $13.50. Dynex Capital, Inc. has a twelve month low of $10.79 and a twelve month high of $14.93. The stock has a market capitalization of $2.71 billion, a P/E ratio of 6.58 and a beta of 0.97.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings results on Monday, January 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.26). The firm had revenue of $202.00 million for the quarter, compared to analyst estimates of $59.41 million. Dynex Capital had a return on equity of 6.83% and a net margin of 59.80%. As a group, sell-side analysts predict that Dynex Capital, Inc. will post 1.94 EPS for the current year.

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 23rd were given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 15.2%. The ex-dividend date of this dividend was Monday, February 23rd. Dynex Capital's dividend payout ratio is 100.00%.

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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