Navellier & Associates Inc. Purchases New Shares in 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. purchased a new stake in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 126,473 shares of the real estate investment trust's stock, valued at approximately $1,538,000. Navellier & Associates Inc. owned about 0.12% of Dynex Capital as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC lifted its position in shares of Dynex Capital by 838.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 2,223 shares during the last quarter. Amalgamated Bank lifted its position in shares of Dynex Capital by 50.5% during the first quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 973 shares during the last quarter. CWM LLC lifted its position in shares of Dynex Capital by 271.9% during the first quarter. CWM LLC now owns 3,154 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 2,306 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Dynex Capital during the fourth quarter valued at about $43,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Dynex Capital by 87.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,642 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 1,700 shares during the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on DX shares. Wall Street Zen lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Jones Trading increased their price objective on shares of Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a research report on Monday, July 21st. UBS Group increased their price objective on shares of Dynex Capital from $11.00 to $12.50 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.83.

Dynex Capital Price Performance

NYSE:DX traded down $0.06 during midday trading on Monday, hitting $12.70. The company's stock had a trading volume of 1,081,109 shares, compared to its average volume of 3,567,742. Dynex Capital, Inc. has a fifty-two week low of $10.79 and a fifty-two week high of $14.52. The firm's 50 day moving average is $12.34 and its 200-day moving average is $12.72. The firm has a market cap of $1.36 billion, a P/E ratio of 16.28 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.27). The business had revenue of $23.13 million during the quarter, compared to analyst estimates of $21.20 million. Dynex Capital had a return on equity of 4.53% and a net margin of 17.27%. As a group, analysts forecast that Dynex Capital, Inc. will post 1.94 EPS for the current 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 paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 16.07%. Dynex Capital's payout ratio is 261.54%.

Dynex Capital 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.