Navellier & Associates Inc. Acquires Shares of 126,473 Dynex Capital, Inc. (NYSE:DX)

Key Points

• Navellier & Associates Inc. acquired 126,473 shares of Dynex Capital, Inc. in the first quarter, increasing its stake to approximately 0.12% with an investment valued at about $1.54 million.
• The company announced a monthly dividend of $0.17 per share, representing an annualized yield of 16.01% and a payout ratio of 261.54%.
• Dynex Capital's stock price recently traded up to $12.75, with analysts setting a consensus target price of $12.83 and varying ratings on the stock from "sell" to "buy."

Navellier & Associates Inc. bought a new stake in Dynex Capital, Inc. (NYSE:DX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 126,473 shares of the real estate investment trust's stock, valued at approximately $1,538,000. Navellier & Associates Inc. owned approximately 0.12% of Dynex Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in shares of Dynex Capital during the 1st quarter worth about $216,000. Kovack Advisors Inc. boosted its stake in shares of Dynex Capital by 15.8% during the 1st quarter. Kovack Advisors Inc. now owns 22,685 shares of the real estate investment trust's stock worth $295,000 after acquiring an additional 3,100 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Dynex Capital during the 1st quarter worth about $618,000. Jennison Associates LLC bought a new stake in shares of Dynex Capital during the 1st quarter worth about $1,764,000. Finally, Victory Capital Management Inc. boosted its stake in Dynex Capital by 0.4% during the 1st quarter. Victory Capital Management Inc. now owns 2,036,371 shares of the real estate investment trust's stock valued at $26,514,000 after purchasing an additional 8,262 shares during the period. Hedge funds and other institutional investors own 38.34% of the company's stock.

Dynex Capital Trading Up 0.6%

Shares of Dynex Capital stock traded up $0.08 during trading on Friday, reaching $12.75. The stock had a trading volume of 4,115,761 shares, compared to its average volume of 4,016,727. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 16.34 and a beta of 0.92. The stock has a fifty day moving average price of $12.34 and a two-hundred day moving average price of $12.72. Dynex Capital, Inc. has a 52 week low of $10.79 and a 52 week high of $14.52.

Dynex Capital (NYSE:DX - Get Free Report) last posted 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 4.53% 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. On average, equities analysts forecast that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 16.01%. The ex-dividend date of this dividend is Wednesday, July 23rd. Dynex Capital's dividend payout ratio is presently 261.54%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Jones Trading increased their price objective on Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a research report on Monday. UBS Group raised their price target on Dynex Capital from $11.00 to $12.50 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen lowered Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.83.

Dynex Capital Company Profile

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.