Legal & General Group Plc Makes New Investment in Dynex Capital, Inc. $DX

Legal & General Group Plc purchased a new position in Dynex Capital, Inc. (NYSE:DX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 170,215 shares of the real estate investment trust’s stock, valued at approximately $2,232,000. Legal & General Group Plc owned approximately 0.07% of Dynex Capital at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new stake in Dynex Capital in the 2nd quarter valued at about $1,387,000. Manning & Napier Advisors LLC acquired a new position in shares of Dynex Capital during the 2nd quarter worth approximately $2,622,000. Sanctuary Advisors LLC acquired a new position in shares of Dynex Capital during the 2nd quarter worth approximately $219,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Dynex Capital in the second quarter valued at approximately $1,228,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Dynex Capital in the second quarter valued at approximately $146,000. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Stock Performance

NYSE DX opened at $12.93 on Friday. The stock has a fifty day simple moving average of $12.99 and a 200-day simple moving average of $13.13. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.20 billion, a PE ratio of 4.92 and a beta of 0.96. Dynex Capital, Inc. has a twelve month low of $11.82 and a twelve month high of $14.93.

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

Dynex Capital Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 15.8%. The ex-dividend date of this dividend was Friday, August 21st. Dynex Capital’s payout ratio is 77.57%.

Analyst Upgrades and Downgrades

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

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.