200,000 Shares in Dynex Capital, Inc. $DX Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC acquired a new stake in shares of Dynex Capital, Inc. (NYSE:DX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the real estate investment trust’s stock, valued at approximately $2,622,000. Manning & Napier Advisors LLC owned about 0.08% of Dynex Capital as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Dynex Capital by 14.6% during the 2nd quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock valued at $241,722,000 after purchasing an additional 2,355,906 shares during the period. Vanguard Group Inc. lifted its stake in shares of Dynex Capital by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust’s stock worth $117,555,000 after purchasing an additional 876,931 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dynex Capital by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 3,489,121 shares of the real estate investment trust’s stock worth $48,892,000 after buying an additional 257,719 shares during the last quarter. State Street Corp grew its position in Dynex Capital by 11.5% during the fourth quarter. State Street Corp now owns 3,032,436 shares of the real estate investment trust’s stock valued at $42,484,000 after buying an additional 313,319 shares during the period. Finally, Millennium Management LLC grew its position in Dynex Capital by 79.8% during the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock valued at $27,468,000 after buying an additional 992,269 shares during the period. Institutional investors own 38.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. JonesTrading restated a “buy” rating and issued a $14.75 price objective on shares of Dynex Capital in a research note on Tuesday, July 21st. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Finally, BTIG Research set a $14.50 price target on Dynex Capital in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.56.

Dynex Capital Price Performance

Shares of NYSE:DX opened at $13.00 on Wednesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 4.94 and a beta of 0.96. Dynex Capital, Inc. has a 1-year low of $11.82 and a 1-year high of $14.93. The firm’s 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $13.19. 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 (NYSE:DX) last announced its quarterly earnings data on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $302.75 million during the quarter, compared to analysts’ expectations of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 21st will be paid a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 15.7%. The ex-dividend date is Friday, August 21st. Dynex Capital’s dividend payout ratio is presently 77.57%.

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.