Royal Bank of Canada Raises Stake in Dynex Capital, Inc. $DX

Royal Bank of Canada lifted its stake in Dynex Capital, Inc. (NYSE:DX) by 2,358.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,531,103 shares of the real estate investment trust’s stock after purchasing an additional 1,468,836 shares during the period. Royal Bank of Canada owned about 0.71% of Dynex Capital worth $19,537,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in Dynex Capital in the 1st quarter valued at about $2,552,000. Morling Financial Advisors LLC bought a new position in Dynex Capital in the 1st quarter worth about $1,071,000. First Trust Advisors LP increased its position in shares of Dynex Capital by 143.8% during the first quarter. First Trust Advisors LP now owns 531,415 shares of the real estate investment trust’s stock worth $6,781,000 after acquiring an additional 313,427 shares during the period. Callodine Capital Management LP purchased a new position in shares of Dynex Capital during the first quarter worth approximately $21,320,000. Finally, M&T Bank Corp bought a new stake in shares of Dynex Capital during the fourth quarter valued at approximately $741,000. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DX shares. Wall Street Zen lowered Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. UBS Group reaffirmed a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research report on Friday, April 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Dynex Capital in a report on Tuesday, July 21st. Finally, BTIG Research set a $14.50 price target on Dynex Capital in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.56.

Dynex Capital Stock Down 0.2%

Shares of NYSE DX opened at $12.83 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.17 billion, a PE ratio of 4.88 and a beta of 0.96. The stock’s fifty day simple moving average is $12.98 and its two-hundred day simple moving average is $13.31. Dynex Capital, Inc. has a 12-month low of $11.82 and a 12-month 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 analysts’ consensus estimates of $0.36. The business had revenue of $302.75 million for the quarter, compared to the consensus estimate of $103.62 million. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were paid a $0.17 dividend. This represents a c) annualized dividend and a yield of 15.9%. The ex-dividend date was Thursday, July 23rd. Dynex Capital’s payout ratio is 77.57%.

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.