Dynex Capital (NYSE:DX) CFO Michael Andrew Sartori Acquires 1,000 Shares of Stock

Dynex Capital, Inc. (NYSE:DX) CFO Michael Andrew Sartori bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was purchased at an average price of $10.70 per share, for a total transaction of $10,700.00. Following the acquisition, the chief financial officer directly owned 36,579 shares in the company, valued at approximately $391,395.30. This trade represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dynex Capital Price Performance

NYSE DX opened at $10.93 on Wednesday. The stock has a 50-day simple moving average of $12.07 and a 200 day simple moving average of $12.73. Dynex Capital, Inc. has a twelve month low of $10.31 and a twelve month high of $14.93. The stock has a market capitalization of $2.70 billion, a PE ratio of 8.31 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Dynex Capital had a negative net margin of 4.65% and a positive return on equity of 10.45%. The company had revenue of $101.56 million during the quarter, compared to the consensus estimate of $113.48 million.

Dynex Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be given a $0.17 dividend. This represents a $2.04 annualized dividend and a yield of 18.7%. The ex-dividend date of this dividend is Thursday, October 22nd. Dynex Capital’s dividend payout ratio (DPR) is 77.57%.

Institutional Trading of Dynex Capital

A number of large investors have recently bought and sold shares of the stock. Integrated Advisors Network LLC raised its stake in Dynex Capital by 25.1% during the third quarter. Integrated Advisors Network LLC now owns 27,065 shares of the real estate investment trust’s stock worth $302,000 after acquiring an additional 5,437 shares in the last quarter. Parisi Gray Wealth Management bought a new position in shares of Dynex Capital during the third quarter valued at $151,000. Firethorn Wealth Partners LLC bought a new position in shares of Dynex Capital during the third quarter valued at $144,000. Focus Financial Network Inc. acquired a new stake in shares of Dynex Capital in the 3rd quarter valued at $139,000. Finally, Fermata Advisors LLC boosted its stake in shares of Dynex Capital by 47.2% in the 3rd quarter. Fermata Advisors LLC now owns 25,386 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 8,136 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors.

Dynex Capital News Roundup

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: CEO Smriti Popenoe purchased 12,000 shares for approximately $156,600, while CFO Michael Sartori bought 1,000 shares for $10,700. The insider purchases increase their respective holdings and may signal management’s confidence that the stock is undervalued. CEO insider purchase filing CFO insider purchase filing
• Positive Sentiment: Management said stable funding and limited refinancing needs are allowing Dynex to earn attractive spreads without relying on near-term interest-rate cuts. The company also believes wider mortgage-backed securities spreads could create better future investment opportunities. Dynex Capital earnings call highlights
• Neutral Sentiment: JonesTrading lowered its price target from $14.75 to $12.50 but maintained a “buy” rating, implying analysts still see potential upside despite the weaker quarter. JonesTrading price target update
• Negative Sentiment: Third-quarter results were disappointing: Dynex reported a $335.5 million net loss, or $1.34 per share, and book value per share fell to $10.91 from $12.90. Wider Agency MBS spreads reduced portfolio values, producing a negative economic return of $1.48 per share. EPS of $0.38 also narrowly missed estimates, while revenue of $101.6 million fell short of the $113.5 million consensus. Leverage increased to 9.0 times equity, adding risk. Dynex Capital third-quarter results

Analysts Set New Price Targets

Several brokerages have issued reports on DX. JonesTrading lowered their price target on shares of Dynex Capital from $14.75 to $12.50 and set a “buy” rating on the stock in a report on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a report on Tuesday. BTIG Research set a $12.00 price objective on shares of Dynex Capital and gave the stock a “buy” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings lowered shares of Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.38.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.

Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.