Dynex Capital (NYSE:DX) CIO Acquires $27,950.00 in Stock

Key Points

• Dynex Capital CIO Terrence John Connelly, Jr. purchased 2,500 shares at an average price of $11.18, investing $27,950 and increasing his direct ownership by 4.45% to 58,695 shares.
• DX opened at $11.34 and has a market capitalization of approximately $2.80 billion, trading near its 52-week low of $11.11. Analysts hold a “Moderate Buy” consensus rating with an average price target of $14.56.
• The mortgage REIT declared a $0.17 monthly dividend, equating to $2.04 annually and an indicated 18.0% yield; its latest quarterly earnings of $0.36 per share matched analyst expectations.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) CIO Terrence John Connelly, Jr. purchased 2,500 shares of the firm's stock in a transaction dated Friday, September 25th. The shares were bought at an average cost of $11.18 per share, for a total transaction of $27,950.00. Following the completion of the purchase, the executive directly owned 58,695 shares of the company's stock, valued at $656,210.10. The trade was a 4.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dynex Capital Trading Down 0.0%

DX opened at $11.34 on Monday. The firm has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $12.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. Dynex Capital, Inc. has a fifty-two week low of $11.11 and a fifty-two week high of $14.93. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 4.31 and a beta of 0.96.

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

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.04 dividend on an annualized basis and a yield of 18.0%. Dynex Capital's dividend payout ratio (DPR) is 77.57%.

Analyst Upgrades and Downgrades

DX has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Dynex Capital in a research note on Tuesday, July 21st. BTIG Research set a $14.50 price target on shares of Dynex Capital in a research report on Wednesday, June 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dynex Capital in a research note on Monday, September 21st. Finally, JonesTrading reissued a "buy" rating and issued a $14.75 price objective on shares of Dynex Capital in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $14.56.

Institutional Trading of Dynex Capital

Hedge funds have recently made changes to their positions in the company. Huntington National Bank raised its position in shares of Dynex Capital by 22.3% in the 4th quarter. Huntington National Bank now owns 5,856 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 1,066 shares during the last quarter. Integrity Alliance LLC. grew its position in Dynex Capital by 6.9% during the 2nd quarter. Integrity Alliance LLC. now owns 16,683 shares of the real estate investment trust's stock valued at $219,000 after purchasing an additional 1,081 shares during the last quarter. IMG Wealth Management Inc. grew its position in Dynex Capital by 55.9% during the 1st quarter. IMG Wealth Management Inc. now owns 3,410 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 1,222 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Dynex Capital by 10.4% during the 2nd quarter. Pictet Asset Management Holding SA now owns 23,872 shares of the real estate investment trust's stock valued at $313,000 after purchasing an additional 2,245 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Dynex Capital by 891.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 2,604 shares in the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that invests primarily in residential and commercial mortgage-backed securities. Its portfolio generally focuses on agency securities, which are issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae.

The company finances its investments through repurchase agreements and other forms of secured borrowing and uses hedging strategies to manage interest-rate and financing risks.

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