Insider Buying: Dynex Capital (NYSE:DX) CEO Purchases $51,801.60 in Stock

Dynex Capital, Inc. (NYSE:DX) CEO Smriti Laxman Popenoe purchased 4,260 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $12.16 per share, with a total value of $51,801.60. Following the acquisition, the chief executive officer directly owned 407,338 shares in the company, valued at approximately $4,953,230.08. This represents a 1.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Dynex Capital Stock Performance

Shares of DX opened at $12.48 on Thursday. The company has a 50-day simple moving average of $12.48 and a 200-day simple moving average of $12.43. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.62 billion, a PE ratio of 15.99 and a beta of 0.92. Dynex Capital, Inc. has a 52-week low of $10.79 and a 52-week high of $14.52.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27). The company had revenue of $23.13 million during the quarter, compared to analysts’ expectations of $21.20 million. Dynex Capital had a net margin of 17.27% and a return on equity of 4.19%. Equities research analysts predict that Dynex Capital, Inc. will post 1.94 earnings per share for the current fiscal year.

Dynex Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 22nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.5%. The ex-dividend date was Monday, September 22nd. Dynex Capital’s dividend payout ratio (DPR) is 261.54%.

Institutional Investors Weigh In On Dynex Capital

A number of hedge funds and other institutional investors have recently modified their holdings of DX. Kingstone Capital Partners Texas LLC grew its holdings in shares of Dynex Capital by 130,013.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,144,836 shares of the real estate investment trust’s stock worth $242,772,000 after buying an additional 19,130,122 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Dynex Capital by 311.4% during the first quarter. Millennium Management LLC now owns 3,276,781 shares of the real estate investment trust’s stock worth $42,664,000 after buying an additional 2,480,330 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Dynex Capital by 1,510.0% in the first quarter. MetLife Investment Management LLC now owns 728,728 shares of the real estate investment trust’s stock valued at $9,488,000 after purchasing an additional 683,466 shares during the period. Algebris UK Ltd purchased a new stake in Dynex Capital in the first quarter valued at approximately $6,511,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Dynex Capital in the first quarter valued at approximately $6,810,000. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on DX. UBS Group raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Jones Trading raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Dynex Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.00.

About Dynex Capital

Dynex Capital, Inc, a mortgage real estate investment trust, invests in mortgage-backed securities (MBS) on a leveraged basis in the United States. It invests in agency and non-agency MBS consisting of residential MBS, commercial MBS (CMBS), and CMBS interest-only securities. Agency MBS have a guaranty of principal payment by an agency of the U.S.