Insider Buying: Dynex Capital (NYSE:DX) CIO Purchases $27,950.00 in Stock

Dynex Capital, Inc. (NYSE:DX) CIO John Jr acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The stock was acquired at an average price of $11.18 per share, with a total value of $27,950.00. Following the completion of the acquisition, the executive directly owned 58,695 shares of the company’s stock, valued at $656,210.10. This represents a 4.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Dynex Capital Price Performance

NYSE DX opened at $11.14 on Thursday. Dynex Capital, Inc. has a fifty-two week low of $11.11 and a fifty-two week high of $14.93. The stock’s 50-day moving average is $12.61 and its two-hundred day moving average is $12.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $2.76 billion, a P/E ratio of 4.24 and a beta of 0.96.

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

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 21st will be issued a $0.17 dividend. This represents a $2.04 annualized dividend and a yield of 18.3%. The ex-dividend date is Monday, September 21st. Dynex Capital’s payout ratio is 77.57%.

Institutional Trading of Dynex Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DX. BlackRock Inc. grew its stake in shares of Dynex Capital by 14.6% in the second quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock worth $241,722,000 after acquiring an additional 2,355,906 shares during the last quarter. Callodine Capital Management LP bought a new position in Dynex Capital during the first quarter worth $21,320,000. Segall Bryant & Hamill LLC acquired a new position in Dynex Capital during the 1st quarter valued at $19,581,000. Royal Bank of Canada raised its stake in 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 during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Dynex Capital by 142.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock valued at $29,128,000 after purchasing an additional 1,307,100 shares during the period. Institutional investors and hedge funds own 38.34% of the company’s stock.

Wall Street Analyst Weigh In

DX has been the topic of several analyst reports. JonesTrading reiterated a “buy” rating and set a $14.75 price target on shares of Dynex Capital in a report on Tuesday, July 21st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a report on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Dynex Capital currently has an average rating of “Moderate Buy” and an average target price of $14.56.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is a mortgage real estate investment trust that invests in mortgage-related assets. Its portfolio primarily consists of agency mortgage-backed securities, including securities backed by residential and commercial mortgages, as well as other mortgage assets.

The company uses financing arrangements, including repurchase agreements, to support its investment activities and seeks to generate income from the spread between the returns on its investments and its financing and operating costs.