EMG Holdings L.P. Takes $4.40 Million Position in Dynex Capital, Inc. $DX

EMG Holdings L.P. acquired a new position in shares of Dynex Capital, Inc. (NYSE:DX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 345,000 shares of the real estate investment trust’s stock, valued at approximately $4,402,000. Dynex Capital comprises about 1.1% of EMG Holdings L.P.’s portfolio, making the stock its 9th largest holding. EMG Holdings L.P. owned approximately 0.16% of Dynex Capital as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE raised its position in Dynex Capital by 321.0% during the first quarter. Bank of America Corp DE now owns 763,452 shares of the real estate investment trust’s stock valued at $9,742,000 after purchasing an additional 582,129 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Dynex Capital in the 1st quarter worth about $2,631,000. Janus Henderson Group PLC boosted its holdings in shares of Dynex Capital by 45.2% in the 1st quarter. Janus Henderson Group PLC now owns 73,208 shares of the real estate investment trust’s stock worth $934,000 after purchasing an additional 22,800 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Dynex Capital during the 1st quarter valued at about $177,000. Finally, California State Teachers Retirement System increased its position in shares of Dynex Capital by 51.5% during the 1st quarter. California State Teachers Retirement System now owns 191,183 shares of the real estate investment trust’s stock valued at $2,439,000 after purchasing an additional 65,001 shares during the last quarter. Institutional investors own 38.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Wall Street Zen downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. Finally, BTIG Research set a $14.50 target price on shares of Dynex Capital in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Dynex Capital presently has an average rating of “Moderate Buy” and an average target price of $14.56.

Dynex Capital Price Performance

Shares of Dynex Capital stock opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.15. The business’s 50 day simple moving average is $13.00 and its two-hundred day simple moving average is $13.36. The stock has a market capitalization of $3.17 billion, a P/E ratio of 4.87 and a beta of 0.95. Dynex Capital, Inc. has a one year low of $11.82 and a one year high of $14.93.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.The firm had revenue of $302.75 million during the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 23rd will be issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a yield of 15.9%. The ex-dividend date is Thursday, July 23rd. Dynex Capital’s dividend payout ratio is currently 77.57%.

Dynex Capital Company 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.