Dynex Capital (NYSE:DX) CEO Byron Boston Buys 9,180 Shares of Company Stock

Dynex Capital, Inc. (NYSE:DX) CEO Byron Boston acquired 9,180 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were bought at an average cost of $10.89 per share, for a total transaction of $99,970.20. Following the acquisition, the chief executive officer owned 892,747 shares in the company, valued at approximately $9,722,014.83. The trade was a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Dynex Capital Price Performance

DX traded up $0.07 during midday trading on Wednesday, hitting $11.04. The company had a trading volume of 8,672,210 shares, compared to its average volume of 6,061,551. Dynex Capital, Inc. has a twelve month low of $10.31 and a twelve month high of $14.93. The company has a market capitalization of $2.73 billion, a PE ratio of 52.55 and a beta of 0.98. 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 firm’s 50-day simple moving average is $12.07 and its 200-day simple moving average is $12.73.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Dynex Capital had a positive return on equity of 10.45% and a negative net margin of 4.65%. The company had revenue of $101.56 million for the quarter, compared to analyst estimates of $113.48 million.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be given a $0.17 dividend. This represents a $2.04 annualized dividend and a yield of 18.5%. The ex-dividend date is Thursday, October 22nd. Dynex Capital’s payout ratio is 77.57%.

Dynex Capital News Roundup

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: Insiders bought shares following the selloff. Byron Boston purchased 9,180 shares for approximately $100,000, CFO Michael Sartori bought 1,000 shares for $10,700, and a separate filing reported Smriti Popenoe purchasing 12,000 shares for $156,600. These transactions may signal that management views the shares as undervalued. Boston insider purchase filing Sartori insider purchase filing
• Positive Sentiment: Dynex declared its regular monthly dividend of $0.17 per share, equivalent to $2.04 annually and a yield of roughly 18.7% based on the referenced share price. The substantial income potential may attract yield-focused investors, although the upcoming ex-dividend date can increase short-term volatility. Dynex Capital dividend and stock information
• Positive Sentiment: Management said stable funding and limited near-term refinancing needs are allowing Dynex to pursue attractive mortgage-backed securities spreads. Executives also identified wider MBS spreads as a potential opportunity for future investments. Dynex Capital earnings call highlights
• Neutral Sentiment: JonesTrading reduced its price target from $14.75 to $12.50 but retained a “buy” rating. The cut reflects weaker fundamentals, while the rating indicates potential upside from current levels. JonesTrading price target update
• Negative Sentiment: Third-quarter results weighed on the stock: Dynex reported a $335.5 million net loss, book value per share declined to $10.91 from $12.90, and the economic return was negative $1.48 per share due to wider agency MBS spreads. EPS of $0.38 and revenue of $101.6 million also narrowly missed analyst expectations, while leverage rose to 9.0 times equity. Dynex Capital book value and earnings analysis

Institutional Investors Weigh In On Dynex Capital

Several institutional investors have recently modified their holdings of DX. BlackRock Inc. lifted its holdings in 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 buying an additional 2,355,906 shares during the period. State Street Corp boosted its stake in Dynex Capital by 12.8% in the second quarter. State Street Corp now owns 5,113,743 shares of the real estate investment trust’s stock valued at $67,862,000 after acquiring an additional 579,022 shares during the last quarter. Wellington Management Group LLP boosted its stake in Dynex Capital by 142.9% in the second quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock valued at $29,128,000 after acquiring an additional 1,307,100 shares during the last quarter. Callodine Capital Management LP acquired a new stake in Dynex Capital during the 1st quarter worth $21,320,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Dynex Capital during the 1st quarter worth $19,581,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DX shares. JonesTrading decreased their price objective on Dynex Capital from $14.75 to $12.50 and set a “buy” rating on the stock in a research report on Monday. BTIG Research set a $12.00 target price on Dynex Capital and gave the company a “buy” rating in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a research report on Tuesday. Finally, Weiss Ratings lowered Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Dynex Capital presently has an average rating of “Hold” and an average price target of $13.38.

Dynex Capital Company Profile

Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.

Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.