Millennium Management LLC Has $42.66 Million Stock Holdings in Dynex Capital, Inc. $DX

Key Points

• Millennium Management LLC increased its holdings in Dynex Capital, Inc. (NYSE:DX) by an impressive 311.4% during the first quarter, now owning approximately 3.06% of the company valued at around $42.66 million.
• Several institutional investors, including Amalgamated Bank and CWM LLC, have also significantly boosted their stakes in Dynex Capital, contributing to institutional ownership of 38.34% of the company's stock.
• Research analysts have raised their price target for Dynex Capital to $13.00, with ratings reflecting a consensus of "Moderate Buy" based on varying outlooks from different analysts.

Millennium Management LLC raised its position in Dynex Capital, Inc. (NYSE:DX - Free Report) by 311.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,276,781 shares of the real estate investment trust's stock after acquiring an additional 2,480,330 shares during the quarter. Millennium Management LLC owned approximately 3.06% of Dynex Capital worth $42,664,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DX. Amalgamated Bank lifted its stake in Dynex Capital by 50.5% in the first quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 973 shares during the last quarter. CWM LLC lifted its stake in Dynex Capital by 271.9% in the first quarter. CWM LLC now owns 3,154 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 2,306 shares during the last quarter. US Bancorp DE lifted its stake in Dynex Capital by 35.2% in the first quarter. US Bancorp DE now owns 5,134 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 1,338 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Dynex Capital by 89.7% in the first quarter. Russell Investments Group Ltd. now owns 7,721 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Dynex Capital in the first quarter valued at $150,000. Institutional investors and hedge funds own 38.34% of the company's stock.

Dynex Capital Stock Performance

NYSE:DX traded down $0.02 during mid-day trading on Friday, reaching $12.54. 3,891,782 shares of the company's stock were exchanged, compared to its average volume of 4,128,469. Dynex Capital, Inc. has a one year low of $10.79 and a one year high of $14.52. The firm has a market capitalization of $1.63 billion, a PE ratio of 16.08 and a beta of 0.93. The business's fifty day simple moving average is $12.59 and its two-hundred day simple moving average is $12.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.30 and a current ratio of 1.30.

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

Dynex Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Monday, September 22nd. Dynex Capital's dividend payout ratio (DPR) is currently 261.54%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DX shares. Keefe, Bruyette & Woods increased their price objective on shares of Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. UBS Group raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Finally, Jones Trading raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

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.