Morling Financial Advisors LLC Makes New Investment in Dynex Capital, Inc. $DX

Morling Financial Advisors LLC purchased a new stake in Dynex Capital, Inc. (NYSE:DX) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 83,931 shares of the real estate investment trust’s stock, valued at approximately $1,071,000. Dynex Capital accounts for 0.3% of Morling Financial Advisors LLC’s holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Dynex Capital by 98.5% in the fourth 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. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Dynex Capital in the fourth quarter worth $28,000. Triumph Capital Management bought a new stake in Dynex Capital during the third quarter valued at $29,000. IMG Wealth Management Inc. bought a new stake in Dynex Capital during the fourth quarter valued at $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Dynex Capital by 124.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,318 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Dynex Capital Stock Performance

Dynex Capital stock opened at $13.32 on Friday. Dynex Capital, Inc. has a fifty-two week low of $11.82 and a fifty-two week high of $14.93. The stock has a market cap of $2.87 billion, a P/E ratio of 7.88 and a beta of 0.95. The firm’s fifty day moving average price is $13.04 and its 200-day moving average price is $13.44.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company 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 Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a c) annualized dividend and a yield of 15.3%. Dynex Capital’s payout ratio is 120.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BTIG Research set a $14.50 target price on Dynex Capital in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Wall Street Zen lowered Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, UBS Group reissued a “neutral” rating and set a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.69.

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.