Edgestream Partners L.P. Buys Shares of 206,154 Dynex Capital, Inc. $DX

Key Points

• Edgestream Partners initiated a position of 206,154 Dynex Capital shares worth approximately $2.63 million, while other institutional investors also increased their holdings. Institutional investors collectively own 38.34% of the mortgage REIT.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $14.56, compared with the stock’s opening price of $12.71.
• Dynex Capital reported quarterly EPS of $0.36, matching estimates, and announced a monthly dividend of $0.17 per share, implying a reported annualized yield of 16.1%.

Edgestream Partners L.P. bought a new position in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 206,154 shares of the real estate investment trust's stock, valued at approximately $2,631,000. Edgestream Partners L.P. owned about 0.10% of Dynex Capital at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Dynex Capital by 45.2% during the 1st quarter. Janus Henderson Group PLC now owns 73,208 shares of the real estate investment trust's stock worth $934,000 after purchasing an additional 22,800 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Dynex Capital in the 1st quarter valued at approximately $177,000. California State Teachers Retirement System lifted its stake in Dynex Capital by 51.5% in the 1st quarter. California State Teachers Retirement System now owns 191,183 shares of the real estate investment trust's stock valued at $2,439,000 after buying an additional 65,001 shares in the last quarter. 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 valued at $19,537,000 after buying an additional 1,468,836 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Dynex Capital by 27.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 84,893 shares of the real estate investment trust's stock valued at $1,083,000 after buying an additional 18,187 shares during the last quarter. Hedge funds and other institutional investors own 38.34% of the company's stock.

Wall Street Analysts Forecast Growth

DX has been the subject of several recent research reports. BTIG Research set a $14.50 price target on Dynex Capital in a research report on Wednesday, June 17th. Weiss Ratings restated a "hold (c)" rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Wall Street Zen lowered Dynex Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. UBS Group reiterated a "neutral" rating and set a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a research report on Friday, April 24th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.56.

Dynex Capital Stock Down 0.0%

DX stock opened at $12.71 on Monday. The stock has a market capitalization of $3.14 billion, a P/E ratio of 4.83 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 $13.00 and a two-hundred day moving average price of $13.35.

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, 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 company had revenue of $302.75 million during the quarter, compared to the consensus estimate of $103.62 million.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be paid a $0.17 dividend. This represents a c) annualized dividend and a yield of 16.1%. The ex-dividend date is Thursday, July 23rd. Dynex Capital's dividend payout ratio 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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