Odyssean LLC Buys 140,553 Shares of Dynex Capital, Inc. $DX

Key Points

• Odyssean LLC increased its Dynex Capital stake by 328.6% in the second quarter, purchasing 140,553 additional shares for a total position of 183,328 shares valued at approximately $2.4 million.
• Institutional ownership remains significant at 38.34%, with BlackRock and several other investment firms also increasing or initiating positions in Dynex Capital.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $14.56. Dynex Capital also declared a monthly dividend of $0.17 per share, representing an annualized yield of approximately 15.7%.

Odyssean LLC raised its stake in Dynex Capital, Inc. (NYSE:DX - Free Report) by 328.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,328 shares of the real estate investment trust's stock after acquiring an additional 140,553 shares during the period. Odyssean LLC owned approximately 0.07% of Dynex Capital worth $2,403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust's stock valued at $241,722,000 after purchasing an additional 2,355,906 shares during the last quarter. Callodine Capital Management LP bought a new stake in Dynex Capital during the 1st quarter valued at about $21,320,000. Segall Bryant & Hamill LLC purchased a new position in Dynex Capital in the first quarter worth about $19,581,000. Royal Bank of Canada raised its holdings in Dynex Capital by 2,358.9% in the first quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust's stock worth $19,537,000 after buying an additional 1,468,836 shares during the last quarter. Finally, Algebris UK Ltd. bought a new position in shares of Dynex Capital in the second quarter worth approximately $15,597,000. 38.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on DX shares. BTIG Research set a $14.50 price target on shares of Dynex Capital in a report on Wednesday, June 17th. Wall Street Zen lowered shares of Dynex Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. JonesTrading reaffirmed a "buy" rating and issued a $14.75 price objective on shares of Dynex Capital in a research report on Tuesday, July 21st. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.56.

Dynex Capital Stock Down 0.4%

Shares of Dynex Capital stock opened at $13.00 on Wednesday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 4.94 and a beta of 0.96. The company's 50 day moving average is $13.01 and its 200 day moving average is $13.19. Dynex Capital, Inc. has a twelve month low of $11.82 and a twelve month high of $14.93. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX - Get Free Report) last issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The company had revenue of $302.75 million for the quarter, compared to analysts' expectations of $103.62 million.

Dynex Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 21st will be given a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 15.7%. The ex-dividend date is Friday, August 21st. Dynex Capital's dividend payout ratio is 77.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source