Dynex Capital, Inc. $DX Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its position in Dynex Capital, Inc. (NYSE:DX) by 2,358.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,531,103 shares of the real estate investment trust’s stock after purchasing an additional 1,468,836 shares during the quarter. Royal Bank of Canada’s holdings in Dynex Capital were worth $19,537,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DX. Manning & Napier Advisors LLC purchased a new stake in shares of Dynex Capital during the 1st quarter valued at $2,552,000. Morling Financial Advisors LLC purchased a new position in Dynex Capital during the 1st quarter worth $1,071,000. First Trust Advisors LP increased its position in Dynex Capital by 143.8% during the 1st quarter. First Trust Advisors LP now owns 531,415 shares of the real estate investment trust’s stock valued at $6,781,000 after buying an additional 313,427 shares in the last quarter. Callodine Capital Management LP purchased a new stake in Dynex Capital in the first quarter valued at about $21,320,000. Finally, M&T Bank Corp purchased a new stake in Dynex Capital in the fourth quarter valued at about $741,000. 38.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on DX. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a research report on Tuesday, July 21st. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a research report on Wednesday, June 17th. JonesTrading reiterated a “buy” rating and issued a $14.75 target price on shares of Dynex Capital in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.56.

Dynex Capital Trading Down 0.2%

NYSE DX opened at $12.83 on Friday. Dynex Capital, Inc. has a 1 year low of $11.82 and a 1 year high of $14.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $3.17 billion, a PE ratio of 4.88 and a beta of 0.96. The company has a fifty day moving average of $12.98 and a 200 day moving average of $13.31.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $302.75 million for the quarter, compared to the consensus estimate of $103.62 million. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.

Dynex Capital Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were paid a $0.17 dividend. The ex-dividend date was Thursday, July 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 15.9%. Dynex Capital’s dividend payout ratio is presently 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.