Smith Asset Management Group LP Purchases Shares of 31,850 Dynex Capital, Inc. (DX)
Smith Asset Management Group LP purchased a new stake in shares of Dynex Capital, Inc. (NYSE:DX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,850 shares of the real estate investment trust’s stock, valued at approximately $226,000.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Dynex Capital by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,060,641 shares of the real estate investment trust’s stock valued at $14,610,000 after buying an additional 83,438 shares in the last quarter. LSV Asset Management boosted its position in Dynex Capital by 4.8% in the first quarter. LSV Asset Management now owns 1,479,598 shares of the real estate investment trust’s stock valued at $10,490,000 after buying an additional 68,200 shares in the last quarter. UBS Group AG boosted its position in Dynex Capital by 25.4% in the first quarter. UBS Group AG now owns 1,215,547 shares of the real estate investment trust’s stock valued at $8,618,000 after buying an additional 246,130 shares in the last quarter. Prudential Financial Inc. boosted its position in Dynex Capital by 1.6% in the first quarter. Prudential Financial Inc. now owns 579,736 shares of the real estate investment trust’s stock valued at $4,110,000 after buying an additional 8,900 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Dynex Capital by 30.2% in the first quarter. Renaissance Technologies LLC now owns 472,800 shares of the real estate investment trust’s stock valued at $3,352,000 after buying an additional 109,778 shares in the last quarter. 44.21% of the stock is currently owned by institutional investors and hedge funds.
Dynex Capital, Inc. (DX) opened at 7.17 on Wednesday. The company has a market cap of $353.01 million, a PE ratio of 4.66 and a beta of 0.85. Dynex Capital, Inc. has a 52-week low of $6.49 and a 52-week high of $7.61. The firm’s 50 day moving average is $6.98 and its 200 day moving average is $6.91.
Dynex Capital (NYSE:DX) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $16.10 million for the quarter, compared to the consensus estimate of $14.26 million. Dynex Capital had a net margin of 93.54% and a return on equity of 11.04%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Analysts forecast that Dynex Capital, Inc. will post $0.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Thursday, July 6th were paid a $0.18 dividend. The ex-dividend date was Monday, July 3rd. This represents a $0.72 annualized dividend and a dividend yield of 10.04%. Dynex Capital’s dividend payout ratio is presently 46.75%.
Several equities analysts have commented on DX shares. BidaskClub cut shares of Dynex Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $7.00 target price on shares of Dynex Capital in a research report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, Dynex Capital has a consensus rating of “Hold” and an average target price of $7.13.
In related news, Director Barry Igdaloff sold 7,693 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $6.90, for a total transaction of $53,081.70. Following the transaction, the director now owns 317,185 shares in the company, valued at $2,188,576.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.14% of the company’s stock.
About Dynex Capital
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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