Peregrine Capital Management LLC Has $4.04 Million Stock Holdings in Dynex Capital, Inc. $DX

Peregrine Capital Management LLC trimmed its position in Dynex Capital, Inc. (NYSE:DX) by 15.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 316,523 shares of the real estate investment trust’s stock after selling 56,514 shares during the quarter. Peregrine Capital Management LLC’s holdings in Dynex Capital were worth $4,039,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in 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 worth $26,000 after acquiring an additional 928 shares in the last quarter. Federation des caisses Desjardins du Quebec bought a new stake in shares of Dynex Capital during the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new position in shares of Dynex Capital during the third quarter worth approximately $29,000. IMG Wealth Management Inc. acquired a new position in shares of Dynex Capital during the fourth quarter worth approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Dynex Capital by 124.3% in the 4th 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 in the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Trading Up 0.3%

Shares of Dynex Capital stock opened at $13.01 on Friday. The business’s fifty day simple moving average is $13.12 and its 200 day simple moving average is $13.49. Dynex Capital, Inc. has a 12 month low of $11.82 and a 12 month high of $14.93. The firm has a market capitalization of $2.80 billion, a P/E ratio of 7.70 and a beta of 0.95.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of ($59.11) million for the quarter, compared to analysts’ expectations of $67.37 million. Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%.

Dynex Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 22nd were issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 15.7%. The ex-dividend date was Monday, June 22nd. Dynex Capital’s dividend payout ratio (DPR) is 120.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a research note on Wednesday, June 17th. UBS Group reiterated a “neutral” rating and set a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.69.

Dynex Capital 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.