Peregrine Capital Management LLC Sells 56,514 Shares of Dynex Capital, Inc. $DX

Peregrine Capital Management LLC cut its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 15.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 316,523 shares of the real estate investment trust’s stock after selling 56,514 shares during the period. Peregrine Capital Management LLC owned about 0.15% of Dynex Capital worth $4,039,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Dynex Capital by 98.5% during the 4th 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 during the last quarter. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Dynex Capital during the fourth quarter valued at about $28,000. Triumph Capital Management acquired a new stake in shares of Dynex Capital during the third quarter valued at about $29,000. IMG Wealth Management Inc. bought a new stake in shares of Dynex Capital during the fourth quarter worth about $31,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Dynex Capital by 124.3% during the fourth 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 during the last quarter. 38.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DX has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. UBS Group reissued a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. BTIG Research set a $14.50 price target on shares of Dynex Capital in a research report on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two 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 target price of $14.69.

Dynex Capital Price Performance

Shares of Dynex Capital stock opened at $13.01 on Friday. The stock’s 50-day moving average is $13.12 and its 200 day moving average is $13.49. Dynex Capital, Inc. has a one year low of $11.82 and a one year high of $14.93. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 7.70 and a beta of 0.95.

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

Dynex Capital Dividend Announcement

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

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.