M&T Bank Corp Makes New $741,000 Investment in Dynex Capital, Inc. $DX

M&T Bank Corp acquired a new position in shares of Dynex Capital, Inc. (NYSE:DX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 52,926 shares of the real estate investment trust’s stock, valued at approximately $741,000.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Dynex Capital by 98.5% during the 4th quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 928 shares during the period. Triumph Capital Management bought a new stake in shares of Dynex Capital during the 3rd quarter worth $29,000. Signaturefd LLC raised its stake in shares of Dynex Capital by 84.8% during the 4th quarter. Signaturefd LLC now owns 3,290 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,510 shares during the period. Huntington National Bank raised its stake in shares of Dynex Capital by 478,900.0% during the 3rd quarter. Huntington National Bank now owns 4,790 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 4,789 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Dynex Capital during the 3rd quarter worth $70,000. 38.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Dynex Capital in a research note on Thursday, January 29th. UBS Group reiterated a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research note on Friday, March 27th. Wall Street Zen upgraded Dynex Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, JonesTrading lifted their target price on Dynex Capital from $14.00 to $15.25 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

Dynex Capital Stock Performance

Shares of Dynex Capital stock opened at $13.58 on Friday. Dynex Capital, Inc. has a 52-week low of $11.70 and a 52-week high of $14.93. The stock’s 50-day simple moving average is $13.30 and its 200 day simple moving average is $13.64. The stock has a market capitalization of $2.92 billion, a P/E ratio of 8.04 and a beta of 0.97.

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

Dynex Capital Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 1st. Investors of record on Thursday, April 23rd were paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 15.0%. The ex-dividend date was Thursday, April 23rd. Dynex Capital’s payout ratio is currently 120.71%.

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.