Morling Financial Advisors LLC Buys Shares of 83,931 Dynex Capital, Inc. $DX

Key Points

• Morling Financial Advisors LLC bought a new stake in Dynex Capital during the first quarter, purchasing 83,931 shares worth about $1.07 million. The position makes DX its 27th largest holding and about 0.3% of its portfolio.
• Institutional interest in Dynex Capital remains notable, with several other funds also adding positions, and institutions collectively owning 38.34% of the stock.
• Dynex Capital reported mixed recent results, missing both EPS and revenue estimates in its latest quarter, but it also declared a monthly dividend of $0.17 per share, implying a high annualized yield of about 15.3%.

Morling Financial Advisors LLC bought a new stake in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 83,931 shares of the real estate investment trust's stock, valued at approximately $1,071,000. Dynex Capital accounts for about 0.3% of Morling Financial Advisors LLC's portfolio, making the stock its 27th largest holding.

Other large investors also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in Dynex Capital during the first quarter valued at $2,552,000. GraniteShares Advisors LLC bought a new stake in shares of Dynex Capital in the fourth quarter valued at $2,720,000. M&T Bank Corp purchased a new position in shares of Dynex Capital during the 4th quarter valued at $741,000. TrueMark Investments LLC purchased a new position in shares of Dynex Capital during the 4th quarter valued at $1,012,000. Finally, Jennison Associates LLC bought a new position in shares of Dynex Capital during the 4th quarter worth $987,000. Hedge funds and other institutional investors own 38.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DX shares. UBS Group reissued a "neutral" rating and issued a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Wall Street Zen lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Finally, BTIG Research set a $14.50 target price on shares of Dynex Capital in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.69.

Dynex Capital Price Performance

NYSE:DX opened at $13.32 on Friday. Dynex Capital, Inc. has a 1 year low of $11.82 and a 1 year high of $14.93. The stock's fifty day moving average price is $13.04 and its two-hundred day moving average price is $13.44. The company has a market cap of $2.87 billion, a P/E ratio of 7.88 and a beta of 0.95.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.01). The company had revenue of ($59.11) million for the quarter, compared to the consensus estimate of $67.37 million. Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%.

Dynex Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 15.3%. Dynex Capital's dividend payout ratio is currently 120.71%.

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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