Dynex Capital, Inc. $DX Stake Lifted by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Dynex Capital, Inc. by 4.8%, owning approximately $9.89 million worth of shares after acquiring an additional 34,765 shares in the first quarter.
• Dynex Capital announced a dividend of $0.17 per share, equating to a remarkably high dividend yield of 1,650.0%, with a reported dividend payout ratio of 261.54%.
• In recent analyst ratings, three research firms raised their price targets for Dynex Capital to $13.00, indicating a consensus rating of "Moderate Buy" among analysts.

Northern Trust Corp lifted its position in Dynex Capital, Inc. (NYSE:DX - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 759,630 shares of the real estate investment trust's stock after buying an additional 34,765 shares during the quarter. Northern Trust Corp owned about 0.71% of Dynex Capital worth $9,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in DX. Vanguard Group Inc. raised its holdings in shares of Dynex Capital by 7.5% in the first quarter. Vanguard Group Inc. now owns 4,643,291 shares of the real estate investment trust's stock valued at $60,456,000 after purchasing an additional 325,891 shares during the last quarter. Victory Capital Management Inc. raised its position in Dynex Capital by 0.4% in 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 buying an additional 8,262 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dynex Capital by 6.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,427,121 shares of the real estate investment trust's stock worth $18,053,000 after acquiring an additional 81,510 shares during the last quarter. Invesco Ltd. boosted its stake in Dynex Capital by 5.9% in the 1st quarter. Invesco Ltd. now owns 1,344,333 shares of the real estate investment trust's stock worth $17,503,000 after purchasing an additional 74,314 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Dynex Capital by 29.3% in the 4th quarter. Ameriprise Financial Inc. now owns 914,121 shares of the real estate investment trust's stock worth $11,564,000 after buying an additional 207,413 shares during the last quarter. Institutional investors own 38.34% of the company's stock.

Dynex Capital Stock Performance

Shares of DX traded down $0.04 during midday trading on Tuesday, reaching $12.89. 4,315,392 shares of the stock were exchanged, compared to its average volume of 3,640,619. The business's 50-day moving average price is $12.59 and its 200 day moving average price is $12.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.30 and a quick ratio of 1.30. Dynex Capital, Inc. has a twelve month low of $10.79 and a twelve month high of $14.52. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.53 and a beta of 0.93.

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

Dynex Capital Dividend Announcement

The firm also recently declared a aug 25 dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 22nd were given a dividend of $0.17 per share. This represents a yield of 1,650.0%. The ex-dividend date of this dividend was Friday, August 22nd. Dynex Capital's dividend payout ratio is 261.54%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DX. 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. UBS Group lifted their price target on Dynex Capital from $12.50 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Finally, Jones Trading boosted their price objective on Dynex Capital from $12.50 to $13.00 and gave the company a "buy" rating in a report 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.