Y Intercept Hong Kong Ltd Buys 402,664 Shares of Dynex Capital, Inc. $DX

Y Intercept Hong Kong Ltd boosted its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 270.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 551,507 shares of the real estate investment trust’s stock after acquiring an additional 402,664 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Dynex Capital were worth $7,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DX. GAMMA Investing LLC increased its stake in Dynex Capital by 98.5% during the 4th quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 928 shares during the period. Federation des caisses Desjardins du Quebec bought a new position in Dynex Capital during the 4th quarter worth $28,000. Triumph Capital Management bought a new position in Dynex Capital during the 3rd quarter worth $29,000. IMG Wealth Management Inc. bought a new position in Dynex Capital during the 4th quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Dynex Capital by 124.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,318 shares during the period. Institutional investors own 38.34% of the company’s stock.

Dynex Capital Stock Performance

Shares of DX opened at $12.92 on Friday. Dynex Capital, Inc. has a 52-week low of $11.76 and a 52-week high of $14.93. The business’s fifty day moving average is $13.16 and its 200-day moving average is $13.56. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 7.64 and a beta of 0.95.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%. The business had revenue of ($59.11) million during the quarter, compared to the consensus estimate of $67.37 million.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 22nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 22nd. This represents a c) annualized dividend and a dividend yield of 15.8%. Dynex Capital’s dividend payout ratio (DPR) is presently 120.71%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen lowered Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Friday, March 27th. Finally, UBS Group reiterated a “neutral” rating and issued a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Dynex Capital Company Profile

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.