Insider Buying: Dynex Capital (NYSE:DX) CEO Buys $99,970.20 in Stock

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

Dynex Capital Stock Performance

Shares of DX stock opened at $10.91 on Friday. The stock has a market capitalization of $2.70 billion, a PE ratio of 8.70 and a beta of 0.98. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $11.95 and its 200 day moving average price is $12.69. Dynex Capital, Inc. has a 52-week low of $10.31 and a 52-week high of $14.93.

Dynex Capital (NYSE:DX) last issued its quarterly 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 company had revenue of $101.56 million for the quarter, compared to analyst estimates of $113.48 million. Dynex Capital had a positive return on equity of 10.45% and a negative net margin of 4.65%.

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd will be paid a dividend of $0.17 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 18.7%. The ex-dividend date of this dividend is Thursday, October 22nd. Dynex Capital’s dividend payout ratio is 971.43%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DX. JonesTrading decreased their price target on Dynex Capital from $14.75 to $12.50 and set a “buy” rating on the stock in a research note on Monday, October 19th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday. BTIG Research set a $12.00 price target on Dynex Capital and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings cut shares of Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.38.

Institutional Investors Weigh In On Dynex Capital

Several hedge funds and other institutional investors have recently modified their holdings of DX. Integrity Alliance LLC. grew its holdings in shares of Dynex Capital by 6.9% during the second quarter. Integrity Alliance LLC. now owns 16,683 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 1,081 shares during the last quarter. IMG Wealth Management Inc. increased 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 valued at $44,000 after buying an additional 1,222 shares during the period. Pictet Asset Management Holding SA raised its holdings in Dynex Capital by 10.4% during the second quarter. Pictet Asset Management Holding SA now owns 23,872 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 2,245 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Dynex Capital by 891.8% in the second quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 2,604 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Dynex Capital by 5.1% during the 2nd quarter. Allworth Financial LP now owns 55,923 shares of the real estate investment trust’s stock valued at $733,000 after purchasing an additional 2,689 shares in the last quarter. 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.