Dynex Capital (NYSE:DX) Stock: Insider Smriti Laxman Popenoe Acquires 12,000 Shares

Dynex Capital, Inc. (NYSE:DX) CEO Smriti Popenoe purchased 12,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were purchased at an average cost of $13.05 per share, for a total transaction of $156,600.00. Following the transaction, the chief executive officer owned 541,098 shares in the company, valued at approximately $7,061,328.90. The trade was a 2.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Dynex Capital Trading Up 0.7%

Shares of DX opened at $11.04 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. Dynex Capital, Inc. has a 12-month low of $10.31 and a 12-month high of $14.93. The firm has a 50-day moving average price of $12.03 and a 200 day moving average price of $12.71. The firm has a market capitalization of $2.73 billion, a P/E ratio of 52.55 and a beta of 0.98.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, October 19th. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $101.56 million for the quarter, compared to analysts’ expectations 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 company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, October 22nd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 18.5%. Dynex Capital’s dividend payout ratio (DPR) is currently 971.43%.

More Dynex Capital News

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: CEO Byron Boston purchased 9,180 shares for approximately $100,000, adding to his already substantial position. The purchase may signal management’s view that the stock is undervalued after its recent decline. Byron Boston insider purchase
• Positive Sentiment: CFO Michael Sartori bought 1,000 shares for $10,700, while CEO Smriti Popenoe previously purchased 12,000 shares for $156,600. These insider transactions increase executive ownership and could support investor confidence. Dynex Capital insider buying
• Neutral Sentiment: Management said stable funding, limited refinancing needs and attractive mortgage-backed securities spreads could support future earnings, although those benefits depend on market conditions and portfolio values. Dynex Capital earnings call highlights
• Negative Sentiment: Third-quarter results fell short of expectations. Dynex reported adjusted earnings of $0.38 per share versus a $0.39 consensus and revenue of $101.56 million versus estimates of $113.48 million. The company also reported a $335.5 million net loss, while book value per share dropped to $10.91 from $12.90 as wider agency MBS spreads reduced portfolio values. Dynex Capital shares gap down following weak earnings
• Negative Sentiment: JonesTrading reduced its price target from $14.75 to $12.50, and a law firm announced an investigation into potential securities-law violations related to the company’s October 19 disclosures. The investigation is only an allegation at this stage, but it adds reputational and legal uncertainty. JonesTrading price target update Dynex Capital securities investigation

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Dynex Capital

Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Dynex Capital by 14.6% in the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after buying an additional 2,355,906 shares during the period. Callodine Capital Management LP purchased a new position in Dynex Capital during the 1st quarter valued at about $21,320,000. Segall Bryant & Hamill LLC acquired a new position in Dynex Capital in the 1st quarter valued at about $19,581,000. Royal Bank of Canada grew its position in Dynex Capital by 2,358.9% in the 1st quarter. Royal Bank of Canada now owns 1,531,103 shares of the real estate investment trust’s stock valued at $19,537,000 after acquiring an additional 1,468,836 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Dynex Capital by 142.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,221,800 shares of the real estate investment trust’s stock valued at $29,128,000 after acquiring an additional 1,307,100 shares in the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

Dynex Capital Company Profile

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.