Sei Investments Co. Trims Stock Position in Dynex Capital, Inc. $DX

Sei Investments Co. trimmed its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,557 shares of the real estate investment trust’s stock after selling 59,405 shares during the quarter. Sei Investments Co. owned about 0.09% of Dynex Capital worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DX. AQR Capital Management LLC raised its stake in shares of Dynex Capital by 54.6% during the first quarter. AQR Capital Management LLC now owns 103,183 shares of the real estate investment trust’s stock worth $1,343,000 after purchasing an additional 36,455 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Dynex Capital by 86.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 804,419 shares of the real estate investment trust’s stock valued at $10,474,000 after buying an additional 373,610 shares during the last quarter. Cetera Investment Advisers increased its stake in Dynex Capital by 51.5% in the 2nd quarter. Cetera Investment Advisers now owns 25,149 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 8,549 shares during the period. JPMorgan Chase & Co. raised its position in Dynex Capital by 241.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 183,247 shares of the real estate investment trust’s stock worth $2,239,000 after buying an additional 129,601 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Dynex Capital by 36.0% in the 2nd quarter. New York State Common Retirement Fund now owns 34,774 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 9,200 shares during the period. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JonesTrading reaffirmed a “buy” rating and issued a $14.75 target price on shares of Dynex Capital in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. BTIG Research set a $14.50 price target on Dynex Capital in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.56.

Dynex Capital Stock Up 1.0%

Shares of NYSE DX opened at $12.94 on Friday. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 4.92 and a beta of 0.96. Dynex Capital, Inc. has a 52 week low of $11.82 and a 52 week high of $14.93. The firm has a 50-day moving average price of $12.98 and a 200 day moving average price of $13.31. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%. The company had revenue of $302.75 million for the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a c) annualized dividend and a dividend yield of 15.8%. Dynex Capital’s payout ratio is 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.