MetLife Investment Management LLC Buys 683,466 Shares of Dynex Capital, Inc. $DX

Key Points

• MetLife Investment Management LLC significantly increased its stake in Dynex Capital, raising its holdings by 1,510.0% to a total of 728,728 shares worth approximately $9.49 million.
• Wall Street analysts are optimistic about Dynex Capital, with reports suggesting a revised price target ranging from $12.50 to $13.00 and an overall “Moderate Buy” rating.
• Dynex Capital has announced a $0.17 dividend to be paid on September 2nd, with a striking dividend yield of 1,650.0%, though its payout ratio currently stands at 261.54%.

MetLife Investment Management LLC boosted its position in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) by 1,510.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 728,728 shares of the real estate investment trust's stock after buying an additional 683,466 shares during the quarter. MetLife Investment Management LLC owned approximately 0.68% of Dynex Capital worth $9,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in shares of Dynex Capital by 27.1% during the fourth quarter. Wells Fargo & Company MN now owns 68,096 shares of the real estate investment trust's stock valued at $861,000 after acquiring an additional 14,516 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Dynex Capital by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 27,121 shares of the real estate investment trust's stock valued at $343,000 after purchasing an additional 3,623 shares during the last quarter. Raymond James Financial Inc. bought a new position in Dynex Capital during the 4th quarter valued at approximately $1,510,000. Barclays PLC raised its position in Dynex Capital by 20.8% during the 4th quarter. Barclays PLC now owns 264,439 shares of the real estate investment trust's stock valued at $3,344,000 after purchasing an additional 45,586 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Dynex Capital by 452.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,204 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 5,901 shares during the last quarter. 38.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on DX shares. UBS Group upped their target price on Dynex Capital from $11.00 to $12.50 and gave the company a "neutral" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Jones Trading upped their price objective on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Two investment 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, Dynex Capital has a consensus rating of "Moderate Buy" and an average target price of $12.83.

Dynex Capital Stock Up 1.0%

DX traded up $0.13 during trading on Friday, reaching $12.62. The stock had a trading volume of 4,441,497 shares, compared to its average volume of 3,577,889. The stock's 50 day moving average is $12.51 and its two-hundred day moving average is $12.66. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.18 and a beta of 0.91. Dynex Capital, Inc. has a one year low of $10.79 and a one year high of $14.52.

Dynex Capital (NYSE:DX - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.27). The firm had revenue of $23.13 million during the quarter, compared to the consensus estimate of $21.20 million. Dynex Capital had a return on equity of 4.19% and a net margin of 17.27%. As a group, analysts expect that Dynex Capital, Inc. will post 1.94 earnings per share for the current year.

Dynex Capital Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a dividend yield of 1,650.0%. Dynex Capital's dividend payout ratio (DPR) is currently 261.54%.

About Dynex Capital

Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.