Dynex Capital, Inc. $DX Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in Dynex Capital, Inc. (NYSE:DX) by 394.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,100 shares of the real estate investment trust’s stock after buying an additional 93,401 shares during the quarter. Russell Investments Group Ltd.’s holdings in Dynex Capital were worth $1,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DX. Manning & Napier Advisors LLC purchased a new stake in Dynex Capital in the 1st quarter worth approximately $2,552,000. First Trust Advisors LP grew its stake in shares of Dynex Capital by 143.8% during the 1st quarter. First Trust Advisors LP now owns 531,415 shares of the real estate investment trust’s stock worth $6,781,000 after purchasing an additional 313,427 shares during the period. Morling Financial Advisors LLC purchased a new position in shares of Dynex Capital during the 1st quarter valued at approximately $1,071,000. EMG Holdings L.P. purchased a new position in shares of Dynex Capital during the 1st quarter valued at approximately $4,402,000. Finally, Royal Bank of Canada increased its holdings in shares of Dynex Capital by 2,358.9% during the 1st quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust’s stock valued at $19,537,000 after purchasing an additional 1,468,836 shares in the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Trading Up 0.3%

Shares of DX opened at $13.05 on Friday. Dynex Capital, Inc. has a 52-week low of $11.82 and a 52-week high of $14.93. The stock has a market cap of $3.23 billion, a PE ratio of 4.96 and a beta of 0.96. The firm’s fifty day moving average is $12.99 and its two-hundred day moving average is $13.26. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $302.75 million during the quarter, compared to analysts’ expectations of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 21st will be paid a dividend of $0.17 per share. This represents a c) annualized dividend and a yield of 15.6%. The ex-dividend date of this dividend is Friday, August 21st. Dynex Capital’s dividend payout ratio is currently 77.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DX. Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. UBS Group restated a “neutral” rating and set a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research report on Friday, April 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a report on Tuesday, July 21st. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a research report on Wednesday, June 17th. Finally, JonesTrading reissued a “buy” rating and set a $14.75 target price on shares of Dynex Capital in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.56.

Dynex Capital Company 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.