Dynex Capital, Inc. (NYSE:DX) Short Interest Up 19.1% in February

Dynex Capital, Inc. (NYSE:DX) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 9,436,132 shares, an increase of 19.1% from the January 29th total of 7,926,128 shares. Currently, 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 5,710,561 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily trading volume, of 5,710,561 shares, the days-to-cover ratio is currently 1.7 days. Currently, 5.5% of the company’s shares are sold short.

Dynex Capital Price Performance

Shares of DX opened at $13.62 on Friday. The firm has a 50-day simple moving average of $14.10 and a two-hundred day simple moving average of $13.47. The stock has a market cap of $2.75 billion, a PE ratio of 6.68 and a beta of 0.97. Dynex Capital has a 1-year low of $10.79 and a 1-year high of $14.93.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, January 26th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.26). Dynex Capital had a return on equity of 6.83% and a net margin of 59.80%.The company had revenue of $202.00 million for the quarter, compared to analysts’ expectations of $59.41 million. As a group, sell-side analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, March 2nd. Investors of record on Monday, February 23rd were issued a $0.17 dividend. This represents a c) annualized dividend and a dividend yield of 15.0%. The ex-dividend date was Monday, February 23rd. Dynex Capital’s payout ratio is currently 100.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on DX. JonesTrading boosted their price target on shares of Dynex Capital from $14.00 to $15.25 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a research note on Thursday, January 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.33.

Hedge Funds Weigh In On Dynex Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of DX. Corient Private Wealth LLC acquired a new stake in shares of Dynex Capital during the fourth quarter worth about $307,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Dynex Capital in the fourth quarter valued at approximately $245,000. Vident Advisory LLC purchased a new stake in Dynex Capital during the 4th quarter worth approximately $253,000. Tudor Investment Corp ET AL acquired a new stake in Dynex Capital during the 4th quarter worth approximately $520,000. Finally, Engineers Gate Manager LP lifted its holdings in Dynex Capital by 290.8% during the 4th quarter. Engineers Gate Manager LP now owns 151,377 shares of the real estate investment trust’s stock worth $2,121,000 after buying an additional 112,644 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

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.