Manning & Napier Advisors LLC Purchases New Shares in Dynex Capital, Inc. $DX

Manning & Napier Advisors LLC purchased a new position in Dynex Capital, Inc. (NYSE:DX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the real estate investment trust’s stock, valued at approximately $2,552,000.

A number of other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Dynex Capital by 98.5% during the fourth quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 928 shares in the last quarter. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Dynex Capital during the fourth quarter worth about $28,000. IMG Wealth Management Inc. acquired a new position in shares of Dynex Capital during the 4th quarter worth about $31,000. Triumph Capital Management acquired a new position in shares of Dynex Capital during the 3rd quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Dynex Capital by 124.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,318 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on DX. UBS Group reiterated a “neutral” rating and issued a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. BTIG Research set a $14.50 target price on Dynex Capital in a report on Wednesday, June 17th. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Dynex Capital has a consensus rating of “Moderate Buy” and a consensus price target of $14.69.

Dynex Capital Stock Performance

Shares of NYSE DX traded down $0.01 during mid-day trading on Friday, reaching $13.14. The company’s stock had a trading volume of 2,362,697 shares, compared to its average volume of 4,848,937. The stock has a 50-day moving average of $13.05 and a two-hundred day moving average of $13.46. The stock has a market capitalization of $2.83 billion, a P/E ratio of 7.78 and a beta of 0.95. Dynex Capital, Inc. has a 1-year low of $11.82 and a 1-year high of $14.93.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of ($59.11) million during the quarter, compared to analysts’ expectations of $67.37 million. Dynex Capital had a return on equity of 7.86% and a net margin of 34.75%.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 22nd were issued a $0.17 dividend. The ex-dividend date was Monday, June 22nd. This represents a c) dividend on an annualized basis and a yield of 15.5%. Dynex Capital’s dividend payout ratio is presently 120.71%.

Dynex Capital 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.