Waterfall Asset Management LLC Invests $1.84 Million in Dynex Capital, Inc. $DX

Waterfall Asset Management LLC purchased a new stake in Dynex Capital, Inc. (NYSE:DX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 150,000 shares of the real estate investment trust’s stock, valued at approximately $1,842,000. Dynex Capital accounts for 0.2% of Waterfall Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Waterfall Asset Management LLC owned 0.10% of Dynex Capital at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Dynex Capital by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,513,849 shares of the real estate investment trust’s stock valued at $92,345,000 after purchasing an additional 1,318,236 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Dynex Capital by 26.0% during the second quarter. Geode Capital Management LLC now owns 2,525,805 shares of the real estate investment trust’s stock valued at $30,870,000 after buying an additional 521,530 shares during the period. Algebris UK Ltd. increased its stake in shares of Dynex Capital by 69.2% during the third quarter. Algebris UK Ltd. now owns 1,669,288 shares of the real estate investment trust’s stock valued at $20,500,000 after buying an additional 682,655 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Dynex Capital by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 1,625,940 shares of the real estate investment trust’s stock valued at $19,870,000 after acquiring an additional 77,481 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Dynex Capital by 10.6% in the second quarter. Invesco Ltd. now owns 1,486,693 shares of the real estate investment trust’s stock worth $18,167,000 after acquiring an additional 142,360 shares during the period. Institutional investors own 38.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DX. JonesTrading increased their target price on shares of Dynex Capital from $14.00 to $15.25 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Dynex Capital in a research note on Thursday, January 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Dynex Capital presently has an average rating of “Moderate Buy” and a consensus price target of $14.33.

Dynex Capital Stock Performance

DX stock opened at $14.03 on Monday. Dynex Capital, Inc. has a one year low of $10.79 and a one year high of $14.93. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 6.88 and a beta of 0.97. The firm has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $13.45.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, January 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.26). Dynex Capital had a return on equity of 6.83% and a net margin of 59.80%.The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $59.41 million. As a group, equities analysts predict that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 23rd will be issued a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 14.5%. The ex-dividend date is Monday, February 23rd. Dynex Capital’s dividend payout ratio is currently 100.00%.

About Dynex Capital

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.