Legal & General Group Plc Invests $2.23 Million in Dynex Capital, Inc. $DX

Legal & General Group Plc acquired a new stake in Dynex Capital, Inc. (NYSE:DX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 170,215 shares of the real estate investment trust’s stock, valued at approximately $2,232,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Dynex Capital by 14.6% in the second quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after purchasing an additional 2,355,906 shares in the last quarter. Vanguard Group Inc. boosted its position in Dynex Capital by 11.7% in 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 period. Geode Capital Management LLC boosted its position in Dynex Capital by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust’s stock valued at $48,892,000 after buying an additional 257,719 shares during the period. State Street Corp grew its stake 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 worth $42,484,000 after acquiring an additional 313,319 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Dynex Capital by 79.8% in the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock worth $27,468,000 after acquiring an additional 992,269 shares in the last quarter. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DX shares. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. BTIG Research set a $14.50 price objective on Dynex Capital in a research note on Wednesday, June 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. Finally, JonesTrading reissued a “buy” rating and issued a $14.75 price objective on shares of Dynex Capital in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.56.

Dynex Capital Price Performance

DX stock opened at $12.93 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.20 billion, a P/E ratio of 4.92 and a beta of 0.96. The business has a 50 day simple moving average of $12.99 and a 200-day simple moving average of $13.13. Dynex Capital, Inc. has a twelve month low of $11.82 and a twelve month high of $14.93.

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

Dynex Capital Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 21st were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 21st. This represents a c) annualized dividend and a dividend yield of 15.8%. Dynex Capital’s dividend payout ratio is 77.57%.

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.