Y Intercept Hong Kong Ltd Cuts Stock Position in Dynex Capital, Inc. $DX

Y Intercept Hong Kong Ltd cut its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 60.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned 0.11% of Dynex Capital worth $2,812,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DX. GAMMA Investing LLC boosted its holdings in shares of Dynex Capital by 98.5% in the fourth quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 928 shares in the last quarter. Federation des caisses Desjardins du Quebec purchased a new position in Dynex Capital during the fourth quarter worth about $28,000. Triumph Capital Management acquired a new stake in Dynex Capital in the third quarter valued at about $29,000. IMG Wealth Management Inc. acquired a new stake in Dynex Capital in the fourth quarter valued at about $31,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Dynex Capital by 124.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,318 shares in the last quarter. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Price Performance

Shares of NYSE:DX opened at $13.16 on Wednesday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 7.79 and a beta of 0.95. The business’s 50 day simple moving average is $13.08 and its 200-day simple moving average is $13.47. Dynex Capital, Inc. has a 12 month low of $11.82 and a 12 month high of $14.93.

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

Dynex Capital Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 22nd were paid a dividend of $0.17 per share. This represents a c) annualized dividend and a dividend yield of 15.5%. The ex-dividend date of this dividend was Monday, June 22nd. Dynex Capital’s payout ratio is 120.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DX. Wall Street Zen downgraded 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 objective (up from $14.00) on shares of Dynex Capital in a report on Friday, April 24th. BTIG Research set a $14.50 price objective on 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 report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Dynex Capital has a consensus rating of “Moderate Buy” and an average price target of $14.69.

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.