Vanguard Group Inc. trimmed its holdings in shares of Dynex Capital Inc (NYSE:DX) by 65.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,290,807 shares of the real estate investment trust’s stock after selling 2,398,231 shares during the period. Vanguard Group Inc. owned about 5.24% of Dynex Capital worth $21,621,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of DX. FMR LLC raised its position in Dynex Capital by 234.4% in the first quarter. FMR LLC now owns 4,726,214 shares of the real estate investment trust’s stock valued at $28,782,000 after purchasing an additional 3,313,061 shares during the period. Marshall Wace LLP raised its position in Dynex Capital by 170.8% in the first quarter. Marshall Wace LLP now owns 762,568 shares of the real estate investment trust’s stock valued at $4,645,000 after purchasing an additional 480,933 shares during the period. First Trust Advisors LP raised its position in Dynex Capital by 75.4% in the first quarter. First Trust Advisors LP now owns 188,675 shares of the real estate investment trust’s stock valued at $1,149,000 after purchasing an additional 81,084 shares during the period. Janney Montgomery Scott LLC purchased a new position in Dynex Capital in the second quarter valued at about $1,295,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Dynex Capital in the second quarter valued at about $988,000. 52.84% of the stock is owned by institutional investors and hedge funds.
NYSE:DX traded down $0.02 during mid-day trading on Friday, reaching $16.21. The stock had a trading volume of 186,743 shares, compared to its average volume of 307,764. The company has a market capitalization of $395.72 million, a price-to-earnings ratio of 7.40 and a beta of 0.63. Dynex Capital Inc has a 1-year low of $13.84 and a 1-year high of $18.94. The stock’s 50 day simple moving average is $15.24 and its two-hundred day simple moving average is $12.68.
The business also recently announced a monthly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.15 dividend. The ex-dividend date was Friday, October 18th. This represents a $1.80 dividend on an annualized basis and a yield of 11.10%. Dynex Capital’s payout ratio is currently 82.19%.
In related news, CFO Stephen J. Benedetti bought 4,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $14.68 per share, for a total transaction of $58,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.36% of the company’s stock.
A number of analysts have recently issued reports on DX shares. Zacks Investment Research raised Dynex Capital from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday. ValuEngine lowered Dynex Capital from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.07.
About Dynex Capital
Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.
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