Zacks Investment Management Purchases New Stake in Dynex Capital, Inc. (NYSE:DX)

Zacks Investment Management acquired a new position in shares of Dynex Capital, Inc. (NYSE:DX) during the 4th quarter, Holdings Channel.com reports. The firm acquired 337,984 shares of the real estate investment trust’s stock, valued at approximately $4,275,000.

A number of other hedge funds have also recently added to or reduced their stakes in DX. Charles Schwab Investment Management Inc. grew its stake in Dynex Capital by 6.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 652,132 shares of the real estate investment trust’s stock worth $8,249,000 after buying an additional 42,012 shares during the last quarter. Barclays PLC lifted its position in Dynex Capital by 833.2% in the 3rd quarter. Barclays PLC now owns 218,853 shares of the real estate investment trust’s stock valued at $2,793,000 after purchasing an additional 195,400 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Dynex Capital in the 4th quarter valued at about $1,510,000. State Street Corp boosted its stake in Dynex Capital by 2.9% during the 3rd quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust’s stock valued at $19,977,000 after purchasing an additional 44,302 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Dynex Capital in the 4th quarter worth about $173,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

Dynex Capital Price Performance

NYSE DX opened at $11.67 on Friday. The company’s 50 day simple moving average is $13.26 and its 200 day simple moving average is $12.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $1.12 billion, a PE ratio of 7.94 and a beta of 1.14. Dynex Capital, Inc. has a 12 month low of $10.79 and a 12 month high of $14.52.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%. As a group, equities research analysts forecast that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Wednesday, April 23rd will be given a $0.17 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $2.04 annualized dividend and a yield of 17.48%. Dynex Capital’s dividend payout ratio (DPR) is 138.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DX shares. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.33.

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.