Callodine Capital Management LP Makes New Investment in Dynex Capital, Inc. $DX

Callodine Capital Management LP purchased a new position in Dynex Capital, Inc. (NYSE:DX) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,670,854 shares of the real estate investment trust’s stock, valued at approximately $21,320,000. Dynex Capital accounts for 1.5% of Callodine Capital Management LP’s portfolio, making the stock its 24th largest holding.

A number of other institutional investors also recently made changes to their positions in DX. GAMMA Investing LLC boosted 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 valued at $26,000 after acquiring an additional 928 shares in the last quarter. Federation des caisses Desjardins du Quebec bought a new stake in Dynex Capital during the fourth quarter worth approximately $28,000. Triumph Capital Management bought a new stake in Dynex Capital during the third quarter worth approximately $29,000. IMG Wealth Management Inc. acquired a new stake in Dynex Capital in the fourth quarter worth approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Dynex Capital by 124.3% in 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 purchasing an additional 1,318 shares during the period. 38.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Finally, BTIG Research set a $14.50 target price on Dynex Capital in a report on Wednesday, June 17th. 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 data from MarketBeat.com, Dynex Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.56.

Dynex Capital Stock Performance

Shares of NYSE:DX opened at $12.60 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 4.79 and a beta of 0.95. Dynex Capital, Inc. has a 1-year low of $11.82 and a 1-year high of $14.93. The company has a 50 day moving average price of $13.00 and a 200 day moving average price of $13.40.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $302.75 million for the quarter, compared to analyst estimates of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 9.63%.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders 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 dividend yield of 16.2%. Dynex Capital’s dividend payout ratio (DPR) is currently 77.57%.

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.