Carmignac Gestion Invests $588,000 in Dynex Capital, Inc. $DX

Carmignac Gestion purchased a new stake in Dynex Capital, Inc. (NYSE:DX) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 44,846 shares of the real estate investment trust’s stock, valued at approximately $588,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Corient Private Wealth LP boosted its holdings in Dynex Capital by 195.1% during the second quarter. Corient Private Wealth LP now owns 34,727 shares of the real estate investment trust’s stock worth $458,000 after buying an additional 22,958 shares in the last quarter. California State Teachers Retirement System increased its holdings in Dynex Capital by 1,569.7% in the second quarter. California State Teachers Retirement System now owns 3,192,180 shares of the real estate investment trust’s stock valued at $41,849,000 after buying an additional 3,000,997 shares in the last quarter. Morling Financial Advisors LLC lifted its position in shares of Dynex Capital by 3.9% during the 2nd quarter. Morling Financial Advisors LLC now owns 87,228 shares of the real estate investment trust’s stock valued at $1,144,000 after acquiring an additional 3,297 shares during the period. AlphaGrep UK Ltd acquired a new stake in shares of Dynex Capital during the 2nd quarter valued at approximately $275,000. Finally, Two Sigma Securities LLC boosted its stake in shares of Dynex Capital by 49.4% during the 2nd quarter. Two Sigma Securities LLC now owns 19,431 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 6,426 shares in the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

Dynex Capital Price Performance

NYSE:DX traded up $0.01 during mid-day trading on Tuesday, hitting $12.90. 4,508,297 shares of the company’s stock traded hands, compared to its average volume of 5,711,327. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $3.19 billion, a PE ratio of 4.91 and a beta of 0.96. The firm’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $13.12. Dynex Capital, Inc. has a 1 year low of $11.82 and a 1 year high of $14.93.

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

Dynex Capital Announces Dividend

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

Analysts Set New Price Targets

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