The Manufacturers Life Insurance Company Purchases New Position in Dynex Capital, Inc. $DX

Key Points

• The Manufacturers Life Insurance Company purchased 105,760 shares of Dynex Capital, valued at approximately $1.39 million, during the second quarter. Several other institutional investors also initiated positions, with institutions now owning 38.34% of DX shares.
• Analyst sentiment remains generally positive: Dynex has a consensus rating of “Moderate Buy” and an average price target of $14.56, compared with a recent share price of $12.93.
• Dynex reported quarterly EPS of $0.36, in line with estimates, and recently paid a monthly dividend of $0.17 per share, representing an annualized yield of approximately 15.8%.

The Manufacturers Life Insurance Company purchased a new stake in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 105,760 shares of the real estate investment trust's stock, valued at approximately $1,387,000.

A number of other large investors have also added to or reduced their stakes in DX. Manning & Napier Advisors LLC bought a new stake in Dynex Capital in the 2nd quarter worth approximately $2,622,000. Sanctuary Advisors LLC bought a new position in shares of Dynex Capital during the 2nd quarter valued at approximately $219,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dynex Capital during the 2nd quarter valued at approximately $1,228,000. Farringdon Capital Ltd. purchased a new position in shares of Dynex Capital in the second quarter valued at $146,000. Finally, Madison Wealth Partners Inc purchased a new position in shares of Dynex Capital in the second quarter valued at $133,000. Institutional investors own 38.34% of the company's stock.

Analyst Ratings Changes

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

Dynex Capital Trading Up 0.8%

Shares of NYSE DX opened at $12.93 on Friday. Dynex Capital, Inc. has a fifty-two week low of $11.82 and a fifty-two week high of $14.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 4.92 and a beta of 0.96. The business's 50 day moving average price is $12.99 and its 200-day moving average price is $13.13.

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

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were paid a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 15.8%. The ex-dividend date of this dividend was Friday, August 21st. Dynex Capital's payout ratio is currently 77.57%.

About Dynex Capital

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