Dynex Capital, Inc. $DX Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 60.0% in the 1st quarter, HoldingsChannel reports. The firm owned 220,389 shares of the real estate investment trust’s stock after selling 331,118 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Dynex Capital were worth $2,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Dynex Capital by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust’s stock valued at $117,555,000 after buying an additional 876,931 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dynex Capital by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust’s stock worth $48,892,000 after acquiring an additional 257,719 shares during the last quarter. State Street Corp lifted its position in shares of Dynex Capital by 11.5% in the fourth quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust’s stock valued at $42,484,000 after acquiring an additional 313,319 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Dynex Capital by 79.8% during the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock valued at $27,468,000 after acquiring an additional 992,269 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Dynex Capital by 87.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,136,636 shares of the real estate investment trust’s stock valued at $29,934,000 after acquiring an additional 998,736 shares during the last quarter. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DX shares. Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. UBS Group reaffirmed a “neutral” rating and set a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. BTIG Research set a $14.50 price objective on shares of Dynex Capital in a research report on Wednesday, June 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.69.

Dynex Capital Trading Down 0.6%

NYSE DX opened at $13.16 on Wednesday. The business’s 50-day moving average price is $13.08 and its 200 day moving average price is $13.47. Dynex Capital, Inc. has a twelve month low of $11.82 and a twelve month high of $14.93. The company has a market capitalization of $2.83 billion, a PE ratio of 7.79 and a beta of 0.95.

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

Dynex Capital Announces Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 22nd were issued a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 15.5%. The ex-dividend date was Monday, June 22nd. Dynex Capital’s payout ratio is presently 120.71%.

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.