GraniteShares Advisors LLC Purchases Shares of 194,177 Dynex Capital, Inc. $DX

Key Points

• GraniteShares Advisors bought 194,177 shares of Dynex Capital (≈$2.72M) in Q4, representing about 0.13% of Dynex and making it GraniteShares' 16th-largest holding (1.7% of the fund's portfolio).
• Dynex reported Q results of $0.31 EPS (missed by $0.01) and $79.25M revenue (beat expectations), and announced a monthly dividend of $0.17 (ex-dividend Apr 23, payable May 1) implying a ~14.9% yield with a 100% payout ratio.
• Institutional ownership stands at 38.34% with large investors (e.g., Vanguard and Millennium) recently increasing stakes, and analysts hold a consensus “Moderate Buy” rating with a $14.33 target price.

GraniteShares Advisors LLC acquired a new position in Dynex Capital, Inc. (NYSE:DX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 194,177 shares of the real estate investment trust's stock, valued at approximately $2,720,000. Dynex Capital accounts for 1.7% of GraniteShares Advisors LLC's holdings, making the stock its 16th largest position. GraniteShares Advisors LLC owned approximately 0.13% of Dynex Capital as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DX. Vanguard Group Inc. boosted its holdings in Dynex Capital by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust's stock valued at $92,345,000 after acquiring an additional 1,318,236 shares during the period. Millennium Management LLC increased its stake in Dynex Capital by 79.8% in 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 period. Ameriprise Financial Inc. increased its stake in Dynex Capital by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,736,645 shares of the real estate investment trust's stock worth $21,345,000 after purchasing an additional 110,705 shares during the period. Algebris UK Ltd. lifted its position in Dynex Capital by 69.2% in the third quarter. Algebris UK Ltd. now owns 1,669,288 shares of the real estate investment trust's stock valued at $20,500,000 after purchasing an additional 682,655 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Dynex Capital by 3.2% in the third quarter. Invesco Ltd. now owns 1,533,805 shares of the real estate investment trust's stock valued at $18,850,000 after purchasing an additional 47,112 shares during the last quarter. Institutional investors own 38.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Dynex Capital in a report on Friday, March 27th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Dynex Capital in a report on Thursday, January 29th. Finally, JonesTrading increased their price target on shares of Dynex Capital from $14.00 to $15.25 and gave the company a "buy" rating in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Dynex Capital presently has an average rating of "Moderate Buy" and a consensus target price of $14.33.

Dynex Capital Trading Up 0.6%

Shares of Dynex Capital stock opened at $13.69 on Tuesday. Dynex Capital, Inc. has a 12 month low of $11.22 and a 12 month high of $14.93. The firm has a market capitalization of $2.83 billion, a P/E ratio of 6.71 and a beta of 0.99. The business has a fifty day simple moving average of $13.34 and a two-hundred day simple moving average of $13.61.

Dynex Capital (NYSE:DX - Get Free Report) last released its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The business had revenue of $79.25 million during the quarter, compared to analysts' expectations of $67.37 million. Dynex Capital had a return on equity of 6.83% and a net margin of 59.80%.

Dynex Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Thursday, April 23rd will be issued a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 14.9%. The ex-dividend date is Thursday, April 23rd. Dynex Capital's dividend payout ratio is 100.00%.

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.

Want to see what other hedge funds are holding DX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dynex Capital, Inc. (NYSE:DX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.