New York State Common Retirement Fund Has $333,000 Stake in Dynex Capital, Inc. (NYSE:DX)

Key Points

• The New York State Common Retirement Fund has cut its stake in Dynex Capital, Inc. by 58.8%, leaving it with a total of 25,574 shares valued at $333,000.
• Despite the reduction by New York State, other institutional investors like the Arizona State Retirement System and Envestnet Asset Management have increased their stakes in Dynex Capital.
• Dynex Capital recently announced a monthly dividend of $0.17 per share, translating to an annualized yield of 16.01%, with a high dividend payout ratio of 261.54%.

New York State Common Retirement Fund decreased its stake in Dynex Capital, Inc. (NYSE:DX - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,574 shares of the real estate investment trust's stock after selling 36,523 shares during the period. New York State Common Retirement Fund's holdings in Dynex Capital were worth $333,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in Dynex Capital by 4.9% in the 1st quarter. Arizona State Retirement System now owns 22,747 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 1,065 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Dynex Capital by 20.9% during the first quarter. Envestnet Asset Management Inc. now owns 32,776 shares of the real estate investment trust's stock worth $427,000 after purchasing an additional 5,655 shares during the period. Penserra Capital Management LLC grew its stake in shares of Dynex Capital by 20.9% in the first quarter. Penserra Capital Management LLC now owns 90,240 shares of the real estate investment trust's stock worth $1,174,000 after purchasing an additional 15,611 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Dynex Capital by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 219,363 shares of the real estate investment trust's stock valued at $2,856,000 after purchasing an additional 24,496 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Dynex Capital in the 1st quarter valued at about $150,000. Institutional investors and hedge funds own 38.34% of the company's stock.

Wall Street Analysts Forecast Growth

DX has been the subject of a number of analyst reports. UBS Group raised their price objective on Dynex Capital from $11.00 to $12.50 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Dynex Capital from $12.50 to $13.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. Finally, Jones Trading increased their price objective on shares of Dynex Capital from $12.50 to $13.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Dynex Capital currently has a consensus rating of "Hold" and a consensus target price of $12.83.

Dynex Capital Stock Performance

DX stock opened at $12.75 on Friday. The business has a 50-day simple moving average of $12.34 and a two-hundred day simple moving average of $12.72. Dynex Capital, Inc. has a 52-week low of $10.79 and a 52-week high of $14.52. The company has a market capitalization of $1.37 billion, a P/E ratio of 16.34 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last issued its earnings results on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.27). Dynex Capital had a net margin of 17.27% and a return on equity of 4.53%. The firm had revenue of $23.13 million during the quarter, compared to the consensus estimate of $21.20 million. As a group, sell-side analysts forecast that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Wednesday, July 23rd will be issued 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 yield of 16.01%. Dynex Capital's dividend payout ratio (DPR) is 261.54%.

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.

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