Key Points
- CEO Byron Boston purchased 9,180 Dynex Capital shares at an average price of $10.89, investing approximately $99,970 and increasing his ownership to 892,747 shares.
- Dynex Capital’s latest quarter fell slightly short of expectations, with EPS of $0.38 versus $0.39 expected and revenue of $101.56 million versus $113.48 million projected.
- The company declared a $0.17 monthly dividend, equivalent to a $2.04 annualized payout and an approximately 18.5% yield; analysts’ consensus rating remains “Hold” with an average price target of $13.38.
Dynex Capital, Inc. (NYSE:DX - Get Free Report) CEO Byron Boston bought 9,180 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was acquired at an average price of $10.89 per share, for a total transaction of $99,970.20. Following the completion of the transaction, the chief executive officer owned 892,747 shares in the company, valued at $9,722,014.83. This trade represents a 1.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Dynex Capital Stock Up 0.7%
Shares of Dynex Capital stock opened at $11.04 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. Dynex Capital, Inc. has a 1-year low of $10.31 and a 1-year high of $14.93. The business's fifty day moving average price is $12.03 and its two-hundred day moving average price is $12.71. The company has a market capitalization of $2.73 billion, a P/E ratio of 52.55 and a beta of 0.98.
Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $101.56 million during the quarter, compared to the consensus estimate of $113.48 million. Dynex Capital had a positive return on equity of 10.45% and a negative net margin of 4.65%.
Dynex Capital Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $2.04 annualized dividend and a yield of 18.5%. Dynex Capital's dividend payout ratio is presently 971.43%.
Hedge Funds Weigh In On Dynex Capital
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Advisors Network LLC boosted its position in shares of Dynex Capital by 25.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 27,065 shares of the real estate investment trust's stock valued at $302,000 after purchasing an additional 5,437 shares in the last quarter. Parisi Gray Wealth Management acquired a new position in shares of Dynex Capital in the 3rd quarter worth approximately $151,000. Firethorn Wealth Partners LLC bought a new stake in shares of Dynex Capital in the 3rd quarter worth approximately $144,000. Focus Financial Network Inc. bought a new stake in shares of Dynex Capital in the 3rd quarter worth approximately $139,000. Finally, Fermata Advisors LLC raised its holdings in shares of Dynex Capital by 47.2% in the 3rd quarter. Fermata Advisors LLC now owns 25,386 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 8,136 shares in the last quarter. 38.34% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
DX has been the topic of several research analyst reports. BTIG Research set a $12.00 target price on shares of Dynex Capital and gave the company a "buy" rating in a research note on Tuesday, October 6th. JonesTrading dropped their price target on shares of Dynex Capital from $14.75 to $12.50 and set a "buy" rating on the stock in a research report on Monday. Weiss Ratings lowered shares of Dynex Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Dynex Capital in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.38.
Check Out Our Latest Report on Dynex Capital
Key Stories Impacting Dynex Capital
Here are the key news stories impacting Dynex Capital this week:
- Positive Sentiment: CEO Byron Boston purchased 9,180 shares for approximately $100,000, adding to his already substantial position. The purchase may signal management’s view that the stock is undervalued after its recent decline. Byron Boston insider purchase
- Positive Sentiment: CFO Michael Sartori bought 1,000 shares for $10,700, while CEO Smriti Popenoe previously purchased 12,000 shares for $156,600. These insider transactions increase executive ownership and could support investor confidence. Dynex Capital insider buying
- Neutral Sentiment: Management said stable funding, limited refinancing needs and attractive mortgage-backed securities spreads could support future earnings, although those benefits depend on market conditions and portfolio values. Dynex Capital earnings call highlights
- Negative Sentiment: Third-quarter results fell short of expectations. Dynex reported adjusted earnings of $0.38 per share versus a $0.39 consensus and revenue of $101.56 million versus estimates of $113.48 million. The company also reported a $335.5 million net loss, while book value per share dropped to $10.91 from $12.90 as wider agency MBS spreads reduced portfolio values. Dynex Capital shares gap down following weak earnings
- Negative Sentiment: JonesTrading reduced its price target from $14.75 to $12.50, and a law firm announced an investigation into potential securities-law violations related to the company’s October 19 disclosures. The investigation is only an allegation at this stage, but it adds reputational and legal uncertainty. JonesTrading price target update Dynex Capital securities investigation
About Dynex Capital
(
Get Free Report)
Dynex Capital, Inc (NYSE: DX) is an internally managed real estate investment trust that invests in mortgage-related assets. The company primarily focuses on agency mortgage-backed securities, including securities backed by the U.S. government or government-sponsored enterprises, as well as selected non-agency residential and commercial mortgage-backed securities.
Dynex Capital uses financing and other investment strategies to generate income from its portfolio of mortgage assets. Its investments are tied primarily to the U.S.
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