Dynex Capital (NYSE:DX) CFO Purchases 1,000 Shares of Company Stock

Dynex Capital, Inc. (NYSE:DX) CFO Michael Andrew Sartori acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was purchased at an average cost of $10.70 per share, with a total value of $10,700.00. Following the acquisition, the chief financial officer directly owned 36,579 shares of the company’s stock, valued at $391,395.30. This trade represents a 2.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dynex Capital Trading Up 3.5%

Shares of NYSE DX traded up $0.37 during mid-day trading on Tuesday, reaching $10.93. 8,187,915 shares of the company’s stock were exchanged, compared to its average volume of 6,048,099. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 4.16 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. Dynex Capital, Inc. has a 52-week low of $10.31 and a 52-week high of $14.93. The company’s 50-day moving average is $12.11 and its 200-day moving average is $12.74.

Dynex Capital (NYSE:DX) last released its earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The firm had revenue of $101.56 million during the quarter, compared to analyst estimates of $113.48 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Dynex Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be issued a $0.17 dividend. This represents a $2.04 annualized dividend and a yield of 18.7%. The ex-dividend date of this dividend is Thursday, October 22nd. Dynex Capital’s dividend payout ratio is 77.57%.

Wall Street Analyst Weigh In

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

Key Dynex Capital News

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

• Positive Sentiment: Management said stable funding and limited refinancing activity are allowing Dynex to earn attractive spreads without relying on near-term interest-rate cuts. The company also believes currently wide Agency MBS spreads offer an opportunity to invest at favorable valuations. Dynex Capital Bets on Rich MBS Spreads After Painful Quarter
• Positive Sentiment: Dynex raised $384 million of capital and expanded its Agency MBS portfolio by $3.2 billion, lifting the total investment portfolio approximately 3% to $28.3 billion. Net interest income increased to $101.6 million from $93.8 million in the prior quarter, and the company declared a $0.51-per-share dividend. Dynex Capital Posts Third-Quarter Net Loss
• Neutral Sentiment: JonesTrading reduced its price target to $12.50 from $14.75 but maintained a Buy rating, implying potential upside from recent trading levels while acknowledging lower near-term expectations.
• Negative Sentiment: Dynex reported a third-quarter net loss of $335.5 million, or $1.34 per share, compared with a profit-oriented investor focus on portfolio values. Comprehensive loss was $374.8 million, and total economic return was negative $1.48 per share, or negative 11.5% of beginning book value.
• Negative Sentiment: Book value per common share fell sharply to $10.91 from $12.90 in the prior quarter as wider Agency MBS spreads reduced the fair value of the investment portfolio. Leverage, including to-be-announced securities, increased to 9.0 times shareholders’ equity from 8.1 times, adding risk if spreads remain unfavorable. Dynex Capital Third-Quarter Results
• Negative Sentiment: Adjusted earnings also modestly missed expectations: EPS was $0.38 versus a $0.39 consensus estimate, while revenue of $101.56 million came in below the $113.48 million forecast. Dynex Capital Earnings Report

Institutional Investors Weigh In On Dynex Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Dynex Capital by 891.8% in the 2nd quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 2,604 shares during the period. KBC Group NV purchased a new stake in Dynex Capital in the 2nd quarter valued at $42,000. Integrated Wealth Concepts LLC purchased a new stake in Dynex Capital in the 2nd quarter valued at $42,000. IMG Wealth Management Inc. boosted its stake in Dynex Capital by 55.9% during the 1st quarter. IMG Wealth Management Inc. now owns 3,410 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,222 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Dynex Capital by 93.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,638 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 3,205 shares during the period. Hedge funds and other institutional investors own 38.34% of the company’s stock.

About Dynex Capital

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.