Bailard Inc. Makes New Investment in Dynex Capital, Inc. $DX

Bailard Inc. purchased a new stake in Dynex Capital, Inc. (NYSE:DX) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 51,100 shares of the real estate investment trust’s stock, valued at approximately $628,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DX. Private Wealth Management Group LLC acquired a new stake in shares of Dynex Capital in the 3rd quarter worth $36,000. Transce3nd LLC purchased a new stake in shares of Dynex Capital in the second quarter valued at about $49,000. CWM LLC grew its holdings in shares of Dynex Capital by 156.5% in the third quarter. CWM LLC now owns 6,319 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 3,855 shares during the period. Savant Capital LLC acquired a new stake in Dynex Capital during the second quarter worth about $123,000. Finally, Ethic Inc. purchased a new position in Dynex Capital during the third quarter worth about $126,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on Dynex Capital from $14.00 to $14.50 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. UBS Group set a $13.25 target price on Dynex Capital and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Jones Trading reaffirmed a “buy” rating and issued a $14.00 price target on shares of Dynex Capital in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.92.

Dynex Capital Trading Up 1.1%

NYSE DX opened at $14.61 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 9.87 and a beta of 0.98. The firm has a 50 day simple moving average of $13.92 and a 200-day simple moving average of $13.17. Dynex Capital, Inc. has a one year low of $10.79 and a one year high of $14.67.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Wednesday, January 21st will be paid a $0.17 dividend. The ex-dividend date is Wednesday, January 21st. This represents a c) annualized dividend and a dividend yield of 14.0%. Dynex Capital’s payout ratio is 137.84%.

Dynex Capital 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.