FJ Capital Management LLC Invests $884,000 in Dynex Capital, Inc. $DX

FJ Capital Management LLC acquired a new position in shares of Dynex Capital, Inc. (NYSE:DX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 63,085 shares of the real estate investment trust’s stock, valued at approximately $884,000.

A number of other large investors also recently added to or reduced their stakes in DX. GAMMA Investing LLC raised its position in Dynex Capital by 98.5% in the 4th quarter. GAMMA Investing LLC now owns 1,870 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 928 shares during the period. Federation des caisses Desjardins du Quebec purchased a new position in Dynex Capital in the 4th quarter worth $28,000. Triumph Capital Management purchased a new position in Dynex Capital in the 3rd quarter worth $29,000. IMG Wealth Management Inc. purchased a new position in Dynex Capital in the 4th quarter worth $31,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Dynex Capital by 124.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,378 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,318 shares during the period. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Trading Up 0.1%

DX stock opened at $12.92 on Friday. The firm’s 50-day moving average price is $13.16 and its two-hundred day moving average price is $13.56. Dynex Capital, Inc. has a 12-month low of $11.76 and a 12-month high of $14.93. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 7.64 and a beta of 0.95.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Dynex Capital had a net margin of 34.75% and a return on equity of 7.86%. The firm had revenue of ($59.11) million during the quarter, compared to analysts’ expectations of $67.37 million.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 22nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a c) annualized dividend and a yield of 15.8%. Dynex Capital’s payout ratio is presently 120.71%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DX. UBS Group reiterated a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research report on Friday, April 24th. Wall Street Zen cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.75.

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.