Short Interest in Dynex Capital, Inc. (NYSE:DX) Drops By 23.7%

Dynex Capital, Inc. (NYSE:DX) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 533,500 shares, a drop of 23.7% from the March 31st total of 699,000 shares. Based on an average trading volume of 540,600 shares, the days-to-cover ratio is currently 1.0 days.

Separately, Jonestrading increased their price objective on shares of Dynex Capital from $18.50 to $19.00 and gave the company a “buy” rating in a report on Friday, February 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.75.

In other Dynex Capital news, CEO Byron L. Boston purchased 1,635 shares of the stock in a transaction that occurred on Monday, March 8th. The shares were bought at an average cost of $18.35 per share, with a total value of $30,002.25. Following the acquisition, the chief executive officer now owns 330,326 shares in the company, valued at $6,061,482.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.36% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Perspectives Financial Planning LLC bought a new position in Dynex Capital during the 4th quarter valued at about $84,000. DCM Advisors LLC purchased a new stake in shares of Dynex Capital in the fourth quarter worth approximately $188,000. Bank of New York Mellon Corp lifted its stake in shares of Dynex Capital by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 90,085 shares of the real estate investment trust’s stock worth $1,604,000 after acquiring an additional 2,027 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new position in Dynex Capital during the 4th quarter valued at $1,107,000. Finally, Nkcfo LLC bought a new position in Dynex Capital in the 4th quarter valued at $160,000. 50.17% of the stock is currently owned by hedge funds and other institutional investors.

DX stock traded down $0.17 during trading on Tuesday, hitting $20.03. 402,925 shares of the company’s stock traded hands, compared to its average volume of 495,759. Dynex Capital has a 52 week low of $11.12 and a 52 week high of $20.41. The stock has a market capitalization of $608.01 million, a price-to-earnings ratio of 2.65 and a beta of 1.24. The business has a fifty day simple moving average of $19.28 and a 200 day simple moving average of $18.17.

Dynex Capital (NYSE:DX) last announced its earnings results on Wednesday, April 28th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Dynex Capital had a net margin of 155.15% and a return on equity of 15.69%. As a group, analysts expect that Dynex Capital will post 1.94 earnings per share for the current year.

The business also recently announced a monthly dividend, which was paid on Monday, May 3rd. Stockholders of record on Thursday, April 22nd were issued a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date was Wednesday, April 21st. Dynex Capital’s dividend payout ratio (DPR) is 74.64%.

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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