Dynex Capital (NYSE:DX) CEO Byron Boston Buys 9,180 Shares of Company Stock

Dynex Capital, Inc. (NYSE:DX) CEO Byron Boston bought 9,180 shares of Dynex Capital stock in a transaction on Tuesday, October 20th. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $99,970.20. Following the acquisition, the chief executive officer owned 892,747 shares in the company, valued at $9,722,014.83. The trade was a 1.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Dynex Capital Price Performance

Shares of DX opened at $11.04 on Thursday. Dynex Capital, Inc. has a 52 week low of $10.31 and a 52 week high of $14.93. 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 firm has a market cap of $2.73 billion, a price-to-earnings ratio of 52.55 and a beta of 0.98. The stock has a 50 day moving average of $12.03 and a 200-day moving average of $12.71.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $101.56 million for the quarter, compared to analyst estimates of $113.48 million. Dynex Capital had a negative net margin of 4.65% and a positive return on equity of 10.45%.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be issued a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 18.5%. The ex-dividend date of this dividend is Thursday, October 22nd. Dynex Capital’s payout ratio is currently 971.43%.

Wall Street Analyst Weigh In

DX has been the topic of a number of research reports. BTIG Research set a $12.00 target price on shares of Dynex Capital and gave the stock a “buy” rating in a report on Tuesday, October 6th. JonesTrading reduced their price target on shares of Dynex Capital from $14.75 to $12.50 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings lowered shares of Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.38.

Key Dynex Capital News

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: CEO Byron Boston purchased 9,180 shares for approximately $100,000, adding to his already substantial position. The purchase may signal management’s view that the stock is undervalued after its recent decline. Byron Boston insider purchase
• Positive Sentiment: CFO Michael Sartori bought 1,000 shares for $10,700, while CEO Smriti Popenoe previously purchased 12,000 shares for $156,600. These insider transactions increase executive ownership and could support investor confidence. Dynex Capital insider buying
• Neutral Sentiment: Management said stable funding, limited refinancing needs and attractive mortgage-backed securities spreads could support future earnings, although those benefits depend on market conditions and portfolio values. Dynex Capital earnings call highlights
• Negative Sentiment: Third-quarter results fell short of expectations. Dynex reported adjusted earnings of $0.38 per share versus a $0.39 consensus and revenue of $101.56 million versus estimates of $113.48 million. The company also reported a $335.5 million net loss, while book value per share dropped to $10.91 from $12.90 as wider agency MBS spreads reduced portfolio values. Dynex Capital shares gap down following weak earnings
• Negative Sentiment: JonesTrading reduced its price target from $14.75 to $12.50, and a law firm announced an investigation into potential securities-law violations related to the company’s October 19 disclosures. The investigation is only an allegation at this stage, but it adds reputational and legal uncertainty. JonesTrading price target update Dynex Capital securities investigation

Hedge Funds Weigh In On Dynex Capital

Several institutional investors have recently made changes to their positions in the stock. Integrity Alliance LLC. increased its position in Dynex Capital by 6.9% in the second quarter. Integrity Alliance LLC. now owns 16,683 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 1,081 shares during the period. IMG Wealth Management Inc. boosted its holdings in shares of Dynex Capital by 55.9% during the first quarter. IMG Wealth Management Inc. now owns 3,410 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 1,222 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Dynex Capital by 10.4% during the second quarter. Pictet Asset Management Holding SA now owns 23,872 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 2,245 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Dynex Capital by 891.8% during the second quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 2,604 shares during the period. Finally, Allworth Financial LP grew its position in shares of Dynex Capital by 5.1% during the second quarter. Allworth Financial LP now owns 55,923 shares of the real estate investment trust’s stock worth $733,000 after acquiring an additional 2,689 shares during the last quarter. 38.34% of the stock is owned by institutional investors.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.

Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.