Dynex Capital, Inc. (NYSE:DX – Get Rating) saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 814,100 shares, a decline of 18.6% from the July 31st total of 1,000,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 0.8 days.
Wall Street Analyst Weigh In
DX has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised Dynex Capital from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $17.00 to $18.75 in a research report on Wednesday, June 8th. Credit Suisse Group boosted their price target on shares of Dynex Capital to $17.00 in a report on Friday, July 22nd.
Dynex Capital Stock Performance
Shares of NYSE:DX traded up $0.03 during mid-day trading on Wednesday, reaching $15.51. The company had a trading volume of 519,525 shares, compared to its average volume of 841,768. Dynex Capital has a one year low of $13.96 and a one year high of $18.15. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $16.21 and its 200-day moving average price is $16.00. The firm has a market cap of $690.46 million, a price-to-earnings ratio of 3.46 and a beta of 1.02.
Dynex Capital (NYSE:DX – Get Rating) last released its earnings results on Monday, July 25th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Dynex Capital had a return on equity of 9.33% and a net margin of 254.84%. During the same period in the previous year, the company earned $0.51 earnings per share. As a group, equities research analysts anticipate that Dynex Capital will post 1.65 EPS for the current fiscal year.
Dynex Capital Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 22nd will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 19th. This represents a $1.56 dividend on an annualized basis and a yield of 10.06%. Dynex Capital’s dividend payout ratio is presently 34.82%.
Insider Activity at Dynex Capital
In related news, CEO Byron L. Boston purchased 6,562 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average cost of $15.25 per share, with a total value of $100,070.50. Following the transaction, the chief executive officer now owns 388,134 shares of the company’s stock, valued at approximately $5,919,043.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Byron L. Boston acquired 1,928 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $15.54 per share, for a total transaction of $29,961.12. Following the purchase, the chief executive officer now owns 3,095 shares in the company, valued at approximately $48,096.30. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Byron L. Boston bought 6,562 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was acquired at an average price of $15.25 per share, for a total transaction of $100,070.50. Following the purchase, the chief executive officer now directly owns 388,134 shares in the company, valued at $5,919,043.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,490 shares of company stock valued at $288,432 over the last 90 days. Insiders own 2.50% of the company’s stock.
Hedge Funds Weigh In On Dynex Capital
Several large investors have recently modified their holdings of DX. Victory Capital Management Inc. grew its stake in Dynex Capital by 18.2% in the 4th quarter. Victory Capital Management Inc. now owns 80,400 shares of the real estate investment trust’s stock valued at $1,343,000 after buying an additional 12,400 shares in the last quarter. Northern Trust Corp grew its position in shares of Dynex Capital by 10.2% in the fourth quarter. Northern Trust Corp now owns 388,387 shares of the real estate investment trust’s stock valued at $6,489,000 after purchasing an additional 35,871 shares in the last quarter. Swiss National Bank raised its stake in shares of Dynex Capital by 11.6% during the 4th quarter. Swiss National Bank now owns 76,133 shares of the real estate investment trust’s stock valued at $1,272,000 after purchasing an additional 7,900 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Dynex Capital during the 4th quarter worth about $117,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Dynex Capital in the 4th quarter worth about $273,000. Hedge funds and other institutional investors own 38.20% of the company’s stock.
About Dynex Capital
Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.