Dynex Capital, Inc. (NYSE:DX) Sees Large Decline in Short Interest

Dynex Capital, Inc. (NYSE:DX) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 3,600,000 shares, a decline of 7.0% from the May 31st total of 3,870,000 shares. Based on an average daily volume of 1,400,000 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Dynex Capital

Several institutional investors have recently made changes to their positions in DX. Algebris UK Ltd bought a new position in Dynex Capital during the first quarter valued at approximately $2,477,000. Kraft Davis & Associates LLC bought a new stake in shares of Dynex Capital during the 1st quarter worth approximately $181,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Dynex Capital by 15.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,259 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 2,134 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Dynex Capital by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 3,042,634 shares of the real estate investment trust’s stock worth $37,881,000 after acquiring an additional 41,586 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Dynex Capital by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,754 shares of the real estate investment trust’s stock worth $203,000 after purchasing an additional 1,330 shares during the period. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DX shares. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research report on Thursday, April 18th. Janney Montgomery Scott began coverage on Dynex Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $13.50 target price on the stock. Jonestrading reissued a “buy” rating and issued a $14.00 target price on shares of Dynex Capital in a report on Monday, April 22nd. Compass Point began coverage on Dynex Capital in a report on Friday, April 12th. They issued a “buy” rating and a $14.50 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on Dynex Capital from $13.50 to $12.25 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Dynex Capital presently has a consensus rating of “Hold” and an average price target of $13.35.

Dynex Capital Stock Performance

DX traded up $0.03 during midday trading on Tuesday, reaching $11.75. The company had a trading volume of 1,200,694 shares, compared to its average volume of 1,338,559. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $12.06 and a two-hundred day moving average of $12.24. The company has a market cap of $754.47 million, a P/E ratio of 10.04 and a beta of 1.34. Dynex Capital has a 1 year low of $9.57 and a 1 year high of $13.56.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 24th were given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a dividend yield of 13.28%. The ex-dividend date was Monday, June 24th. Dynex Capital’s dividend payout ratio is currently 133.33%.

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.