Nicholas Investment Partners LP Sells 158,969 Shares of Dynex Capital, Inc. (NYSE:DX)

Nicholas Investment Partners LP trimmed its stake in Dynex Capital, Inc. (NYSE:DX - Free Report) by 40.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 237,476 shares of the real estate investment trust's stock after selling 158,969 shares during the quarter. Nicholas Investment Partners LP owned approximately 0.30% of Dynex Capital worth $3,004,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Dynex Capital by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 652,132 shares of the real estate investment trust's stock valued at $8,249,000 after purchasing an additional 42,012 shares in the last quarter. Barclays PLC raised its stake in shares of Dynex Capital by 833.2% during the third quarter. Barclays PLC now owns 218,853 shares of the real estate investment trust's stock valued at $2,793,000 after purchasing an additional 195,400 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Dynex Capital during the fourth quarter valued at about $1,510,000. Vanguard Group Inc. raised its stake in shares of Dynex Capital by 6.4% during the fourth quarter. Vanguard Group Inc. now owns 4,317,400 shares of the real estate investment trust's stock valued at $54,615,000 after purchasing an additional 260,798 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Dynex Capital during the fourth quarter valued at about $173,000. 38.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on DX. Jones Trading cut their price objective on shares of Dynex Capital from $13.25 to $12.50 and set a "buy" rating on the stock in a research note on Monday, April 21st. StockNews.com cut shares of Dynex Capital from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on shares of Dynex Capital from $13.25 to $12.50 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.83.

Dynex Capital Price Performance

Dynex Capital stock traded up $0.05 during midday trading on Friday, hitting $12.61. The company's stock had a trading volume of 3,526,994 shares, compared to its average volume of 2,391,462. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average price is $12.57 and its 200-day moving average price is $12.78. Dynex Capital, Inc. has a 12 month low of $10.79 and a 12 month high of $14.52. The company has a market capitalization of $1.35 billion, a PE ratio of 8.57 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last released its earnings results on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $17.13 million for the quarter, compared to analysts' expectations of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Analysts anticipate that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 16.18%. Dynex Capital's dividend payout ratio (DPR) is presently 264.94%.

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.