Navellier & Associates Inc. Reduces Position in Dynex Capital, Inc. $DX

Navellier & Associates Inc. decreased its position in shares of Dynex Capital, Inc. (NYSE:DX) by 56.9% in the second quarter, HoldingsChannel reports. The firm owned 67,356 shares of the real estate investment trust’s stock after selling 88,941 shares during the quarter. Navellier & Associates Inc.’s holdings in Dynex Capital were worth $883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Dynex Capital by 14.6% during 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 during the period. Callodine Capital Management LP purchased a new position in shares of Dynex Capital during the 1st quarter valued at approximately $21,320,000. Segall Bryant & Hamill LLC acquired a new position in shares of Dynex Capital in the 1st quarter valued at $19,581,000. Royal Bank of Canada raised its position in shares of Dynex Capital by 2,358.9% in the first quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust’s stock worth $19,537,000 after acquiring an additional 1,468,836 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Dynex Capital by 142.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock worth $29,128,000 after purchasing an additional 1,307,100 shares during the period. 38.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DX. BTIG Research set a $14.50 price objective on Dynex Capital in a research report on Wednesday, June 17th. 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 report on Tuesday, July 21st. Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, JonesTrading reiterated a “buy” rating and issued a $14.75 price objective on shares of Dynex Capital in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.56.

Dynex Capital Stock Performance

Shares of Dynex Capital stock opened at $12.91 on Friday. The firm has a market cap of $3.19 billion, a PE ratio of 4.91 and a beta of 0.96. 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. The business’s fifty day simple moving average is $13.00 and its 200-day simple moving average is $13.17.

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, meeting analysts’ consensus estimates of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The business had revenue of $302.75 million during the quarter, compared to analysts’ expectations of $103.62 million.

Dynex Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st will be given a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date is Friday, August 21st. Dynex Capital’s dividend payout ratio (DPR) is currently 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.