83,586 Dynex Capital, Inc. $DX Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. reduced its stake in Dynex Capital, Inc. (NYSE:DX) by 62.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,914 shares of the real estate investment trust’s stock after selling 83,586 shares during the period. Simplify Asset Management Inc.’s holdings in Dynex Capital were worth $567,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DX. State Street Corp increased its position in Dynex Capital by 12.8% in the 2nd quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust’s stock valued at $67,862,000 after buying an additional 579,022 shares in the last quarter. Bank of America Corp DE acquired a new position in Dynex Capital during the 2nd quarter worth approximately $4,247,000. Bank of New York Mellon Corp raised its stake in Dynex Capital by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,988 shares of the real estate investment trust’s stock worth $10,278,000 after buying an additional 94,948 shares during the period. BlackRock Inc. boosted its holdings in Dynex Capital by 14.6% in the second quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock worth $241,722,000 after acquiring an additional 2,355,906 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Dynex Capital in the second quarter worth approximately $1,387,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

Insider Activity at Dynex Capital

In related news, CEO Byron L. Boston acquired 9,180 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was purchased at an average cost of $10.89 per share, with a total value of $99,970.20. Following the acquisition, the chief executive officer owned 892,747 shares of the company’s stock, valued at approximately $9,722,014.83. This trade represents a 1.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Smriti Popenoe acquired 12,000 shares of the stock in a transaction dated Tuesday, October 20th. The stock was bought at an average cost of $13.05 per share, with a total value of $156,600.00. Following the completion of the purchase, the chief executive officer owned 541,098 shares of the company’s stock, valued at approximately $7,061,328.90. The trade was a 2.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 24,680 shares of company stock valued at $295,220. 0.76% of the stock is owned by corporate insiders.

Dynex Capital Stock Down 1.0%

Dynex Capital stock opened at $10.81 on Thursday. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 51.50 and a beta of 0.98. The firm’s fifty day moving average price is $11.81 and its two-hundred day moving average price is $12.95. Dynex Capital, Inc. has a 1-year low of $10.31 and a 1-year high of $14.93. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX) last posted its earnings results on Monday, October 19th. The real estate investment trust reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $101.56 million for the quarter, compared to the consensus estimate of $113.48 million. Dynex Capital had a positive return on equity of 10.45% and a negative net margin of 4.65%.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $2.04 annualized dividend and a yield of 18.9%. Dynex Capital’s dividend payout ratio (DPR) is presently 971.43%.

Analyst Upgrades and Downgrades

DX has been the subject of a number of research reports. Weiss Ratings cut Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 16th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a report on Tuesday, October 20th. JonesTrading lowered their target price on Dynex Capital from $14.75 to $12.50 and set a “buy” rating on the stock in a research report on Monday, October 19th. Finally, BTIG Research set a $12.00 target price on Dynex Capital and gave the stock a “buy” rating in a report on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.38.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.

Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.