Insider Buying: Dynex Capital (NYSE:DX) CEO Acquires $99,970.20 in Stock

Dynex Capital, Inc. (NYSE:DX) CEO Byron Boston acquired 9,180 shares of Dynex Capital stock in a transaction on Tuesday, October 20th. The stock was purchased at an average price of $10.89 per share, with a total value of $99,970.20. Following the transaction, the chief executive officer directly owned 892,747 shares in the company, valued at approximately $9,722,014.83. This trade represents a 1.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dynex Capital Stock Performance

Shares of NYSE:DX traded up $0.07 during trading on Wednesday, hitting $11.04. 8,672,210 shares of the stock were exchanged, compared to its average volume of 6,061,551. Dynex Capital, Inc. has a 1-year low of $10.31 and a 1-year high of $14.93. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 52.55 and a beta of 0.98. The company’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $12.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.16 and a current ratio of 1.16.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The firm had revenue of $101.56 million for the quarter, compared to the consensus estimate of $113.48 million. Dynex Capital had a negative net margin of 4.65% and a positive return on equity of 10.45%.

Dynex Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, October 22nd. This represents a $2.04 dividend on an annualized basis and a yield of 18.5%. Dynex Capital’s payout ratio is currently 77.57%.

Institutional Trading of Dynex Capital

Large investors have recently bought and sold shares of the stock. Integrated Advisors Network LLC raised its position in Dynex Capital by 25.1% in 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 during the last quarter. Parisi Gray Wealth Management bought a new stake in shares of Dynex Capital during the third quarter worth $151,000. Firethorn Wealth Partners LLC bought a new stake in shares of Dynex Capital during the third quarter worth $144,000. Focus Financial Network Inc. acquired a new stake in shares of Dynex Capital in the third quarter valued at $139,000. Finally, Fermata Advisors LLC increased its stake in shares of Dynex Capital by 47.2% in the third quarter. Fermata Advisors LLC now owns 25,386 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 8,136 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DX. JonesTrading reduced their price objective on shares of Dynex Capital from $14.75 to $12.50 and set a “buy” rating for the company in a report on Monday. Weiss Ratings cut shares of Dynex Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.38.

More Dynex Capital News

Here are the key news stories impacting Dynex Capital this week:

• Positive Sentiment: Insiders bought shares following the selloff. Byron Boston purchased 9,180 shares for approximately $100,000, CFO Michael Sartori bought 1,000 shares for $10,700, and a separate filing reported Smriti Popenoe purchasing 12,000 shares for $156,600. These transactions may signal that management views the shares as undervalued. Boston insider purchase filing Sartori insider purchase filing
• Positive Sentiment: Dynex declared its regular monthly dividend of $0.17 per share, equivalent to $2.04 annually and a yield of roughly 18.7% based on the referenced share price. The substantial income potential may attract yield-focused investors, although the upcoming ex-dividend date can increase short-term volatility. Dynex Capital dividend and stock information
• Positive Sentiment: Management said stable funding and limited near-term refinancing needs are allowing Dynex to pursue attractive mortgage-backed securities spreads. Executives also identified wider MBS spreads as a potential opportunity for future investments. Dynex Capital earnings call highlights
• Neutral Sentiment: JonesTrading reduced its price target from $14.75 to $12.50 but retained a “buy” rating. The cut reflects weaker fundamentals, while the rating indicates potential upside from current levels. JonesTrading price target update
• Negative Sentiment: Third-quarter results weighed on the stock: Dynex reported a $335.5 million net loss, book value per share declined to $10.91 from $12.90, and the economic return was negative $1.48 per share due to wider agency MBS spreads. EPS of $0.38 and revenue of $101.6 million also narrowly missed analyst expectations, while leverage rose to 9.0 times equity. Dynex Capital book value and earnings analysis

Dynex Capital Company Profile

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.