Odyssean LLC Boosts Holdings in Dynex Capital, Inc. $DX

Odyssean LLC boosted its holdings in shares of Dynex Capital, Inc. (NYSE:DX) by 328.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 183,328 shares of the real estate investment trust’s stock after buying an additional 140,553 shares during the quarter. Odyssean LLC’s holdings in Dynex Capital were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Dynex Capital by 54.6% in the first quarter. AQR Capital Management LLC now owns 103,183 shares of the real estate investment trust’s stock worth $1,343,000 after acquiring an additional 36,455 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Dynex Capital by 86.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 804,419 shares of the real estate investment trust’s stock valued at $10,474,000 after acquiring an additional 373,610 shares during the period. Cetera Investment Advisers grew its position in shares of Dynex Capital by 51.5% during the 2nd quarter. Cetera Investment Advisers now owns 25,149 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 8,549 shares during the period. JPMorgan Chase & Co. grew its position in shares of Dynex Capital by 241.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 183,247 shares of the real estate investment trust’s stock valued at $2,239,000 after acquiring an additional 129,601 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Dynex Capital by 36.0% in the 2nd quarter. New York State Common Retirement Fund now owns 34,774 shares of the real estate investment trust’s stock worth $425,000 after purchasing an additional 9,200 shares in the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on DX. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. BTIG Research set a $14.50 price target on Dynex Capital in a report on Wednesday, June 17th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a research report on Tuesday, July 21st. Finally, JonesTrading reaffirmed a “buy” rating and issued a $14.75 price objective on shares of Dynex Capital in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Dynex Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.56.

Dynex Capital Stock Down 0.4%

DX opened at $13.00 on Wednesday. The company has a market capitalization of $3.22 billion, a PE ratio of 4.94 and a beta of 0.96. The firm has a 50-day simple moving average of $13.01 and a two-hundred day simple moving average of $13.19. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. Dynex Capital, Inc. has a 52 week low of $11.82 and a 52 week high of $14.93.

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

Dynex Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be issued a dividend of $0.17 per share. This represents a c) annualized dividend and a yield of 15.7%. The ex-dividend date is Friday, August 21st. Dynex Capital’s dividend payout ratio (DPR) is currently 77.57%.

Dynex Capital 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.