Dynex Capital Inc (NYSE:DX) was the target of a large decline in short interest in November. As of November 29th, there was short interest totalling 760,100 shares, a decline of 23.4% from the November 14th total of 992,400 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 266,000 shares, the days-to-cover ratio is currently 2.9 days.
Hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY grew its stake in Dynex Capital by 28.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,265 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 1,826 shares in the last quarter. Whitener Capital Management Inc. bought a new stake in Dynex Capital during the second quarter valued at $33,000. Virginia Retirement Systems ET AL raised its holdings in shares of Dynex Capital by 12.0% during the third quarter. Virginia Retirement Systems ET AL now owns 25,133 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 2,700 shares during the period. California Public Employees Retirement System raised its holdings in shares of Dynex Capital by 17.4% during the third quarter. California Public Employees Retirement System now owns 29,837 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 4,424 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Dynex Capital during the 3rd quarter valued at about $170,000. 56.16% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on DX shares. Zacks Investment Research upgraded Dynex Capital from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, November 6th. ValuEngine downgraded shares of Dynex Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods upgraded shares of Dynex Capital from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $15.00 to $17.50 in a research note on Monday, November 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Dynex Capital currently has an average rating of “Buy” and an average price target of $18.68.
Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $13.25 million during the quarter. Dynex Capital had a positive return on equity of 12.03% and a negative net margin of 178.71%. As a group, sell-side analysts expect that Dynex Capital will post 2.03 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 23rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.80 dividend on an annualized basis and a yield of 10.65%. Dynex Capital’s dividend payout ratio (DPR) is 82.19%.
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.
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