Carmignac Gestion Purchases New Shares in Dynex Capital, Inc. $DX

Carmignac Gestion purchased a new position 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. The institutional investor purchased 44,846 shares of the real estate investment trust’s stock, valued at approximately $588,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DX. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Dynex Capital in the fourth quarter valued at about $28,000. Triumph Capital Management purchased a new position in shares of Dynex Capital during the third quarter worth about $29,000. IMG Wealth Management Inc. acquired a new position in Dynex Capital in the 4th quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. increased 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 valued at $33,000 after acquiring an additional 1,318 shares during the period. Finally, Versant Capital Management Inc raised its stake in Dynex Capital by 891.8% during the 2nd quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 2,604 shares during the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BTIG Research set a $14.50 price objective on Dynex Capital in a research report on Wednesday, June 17th. JonesTrading restated a “buy” rating and set a $14.75 price target on shares of Dynex Capital in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dynex Capital in a report on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Dynex Capital in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.56.

Dynex Capital Stock Performance

NYSE DX traded up $0.01 during trading hours on Tuesday, hitting $12.90. 4,508,297 shares of the stock were exchanged, compared to its average volume of 5,711,327. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 4.91 and a beta of 0.96. Dynex Capital, Inc. has a 12-month low of $11.82 and a 12-month high of $14.93. The stock has a 50-day moving average of $12.98 and a 200 day moving average of $13.12.

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 for the quarter, meeting analysts’ consensus estimates of $0.36. Dynex Capital had a return on equity of 8.85% and a net margin of 49.18%.The company had revenue of $302.75 million for the quarter, compared to analyst estimates of $103.62 million.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 21st were paid a $0.17 dividend. The ex-dividend date was Friday, August 21st. This represents a c) dividend on an annualized basis 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.