The Manufacturers Life Insurance Company Makes New $1.39 Million Investment in Dynex Capital, Inc. $DX

The Manufacturers Life Insurance Company bought a new position in shares of Dynex Capital, Inc. (NYSE:DX) during the second quarter, HoldingsChannel reports. The institutional investor bought 105,760 shares of the real estate investment trust’s stock, valued at approximately $1,387,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings 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 valued at $241,722,000 after purchasing an additional 2,355,906 shares during the period. Callodine Capital Management LP bought a new stake in Dynex Capital during the 1st quarter valued at $21,320,000. Segall Bryant & Hamill LLC bought a new stake in Dynex Capital during the 1st quarter valued at $19,581,000. Royal Bank of Canada grew its position in shares of 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 worth $19,537,000 after buying an additional 1,468,836 shares in the last quarter. Finally, Algebris UK Ltd. purchased a new position in shares of Dynex Capital during the second quarter valued at $15,597,000. Institutional investors own 38.34% of the company’s stock.

Dynex Capital Stock Performance

DX opened at $12.93 on Friday. The firm’s 50-day moving average price is $12.99 and its 200-day moving average price is $13.13. The company has a market cap of $3.20 billion, a P/E ratio of 4.92 and a beta of 0.96. Dynex Capital, Inc. has a 52-week low of $11.82 and a 52-week high of $14.93. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The business had revenue of $302.75 million during the quarter, compared to the consensus estimate of $103.62 million.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st were paid a dividend of $0.17 per share. This represents a c) annualized dividend and a yield of 15.8%. The ex-dividend date was Friday, August 21st. Dynex Capital’s payout ratio is presently 77.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on DX. JonesTrading reaffirmed a “buy” rating and issued a $14.75 price objective on shares of Dynex Capital in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a research report on Tuesday, July 21st. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a research note on Wednesday, June 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.56.

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.