SeaCrest Wealth Management LLC bought a new position in shares of Dynex Capital, Inc. (NYSE:DX – Get Rating) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,000 shares of the real estate investment trust’s stock, valued at approximately $32,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Dynex Capital by 5.7% during the second quarter. Victory Capital Management Inc. now owns 91,900 shares of the real estate investment trust’s stock worth $1,463,000 after purchasing an additional 4,918 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Dynex Capital in the second quarter valued at $408,000. Ziegler Capital Management LLC increased its holdings in shares of Dynex Capital by 3.0% in the second quarter. Ziegler Capital Management LLC now owns 84,838 shares of the real estate investment trust’s stock valued at $1,351,000 after buying an additional 2,439 shares in the last quarter. Brookstone Capital Management bought a new position in shares of Dynex Capital in the second quarter valued at $268,000. Finally, Amalgamated Bank bought a new position in shares of Dynex Capital in the first quarter valued at $70,000. Institutional investors own 38.20% of the company’s stock.
Dynex Capital Stock Performance
NYSE DX opened at $12.77 on Wednesday. Dynex Capital, Inc. has a twelve month low of $10.60 and a twelve month high of $17.39. The stock has a market cap of $591.89 million, a price-to-earnings ratio of 4.17 and a beta of 1.10. The firm’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $14.73.
Dynex Capital Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be given a dividend of $0.13 per share. This represents a $1.56 annualized dividend and a yield of 12.22%. The ex-dividend date of this dividend is Friday, November 18th. Dynex Capital’s payout ratio is 50.98%.
Insiders Place Their Bets
In related news, CEO Byron L. Boston purchased 12,000 shares of the stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average cost of $10.92 per share, for a total transaction of $131,040.00. Following the acquisition, the chief executive officer now directly owns 400,134 shares in the company, valued at approximately $4,369,463.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. StockNews.com cut Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, November 2nd. BTIG Research dropped their price target on Dynex Capital from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Finally, Credit Suisse Group dropped their price target on Dynex Capital to $13.00 in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dynex Capital presently has an average rating of “Hold” and a consensus target price of $15.94.
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.
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