Capstone Investment Advisors LLC Acquires New Holdings in Dynex Capital, Inc. $DX

Capstone Investment Advisors LLC acquired a new position in shares of Dynex Capital, Inc. (NYSE:DX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 43,602 shares of the real estate investment trust’s stock, valued at approximately $572,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DX. BlackRock Inc. raised its stake in shares of Dynex Capital by 14.6% in the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after purchasing an additional 2,355,906 shares during the period. Vanguard Group Inc. boosted its position in shares of Dynex Capital by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust’s stock worth $117,555,000 after buying an additional 876,931 shares during the period. Geode Capital Management LLC grew its holdings in shares of Dynex Capital by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust’s stock worth $48,892,000 after buying an additional 257,719 shares in the last quarter. State Street Corp raised its position in Dynex Capital by 11.5% in the 4th quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust’s stock valued at $42,484,000 after buying an additional 313,319 shares during the last quarter. Finally, Millennium Management LLC raised its position in Dynex Capital by 79.8% in the 3rd quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock valued at $27,468,000 after buying an additional 992,269 shares during the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Stock Performance

Shares of DX stock opened at $12.91 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of 4.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. The company has a fifty day moving average price of $13.00 and a two-hundred day moving average price of $13.17. Dynex Capital, Inc. has a one year low of $11.82 and a one year high of $14.93.

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

Dynex Capital Announces Dividend

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

Wall Street Analyst Weigh In

DX has been the subject of a number of recent research reports. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BTIG Research set a $14.50 price target on shares of Dynex Capital in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research report on Tuesday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Finally, JonesTrading restated 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.56.

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.