Sei Investments Co. Reduces Stock Holdings in Dynex Capital, Inc. $DX

Sei Investments Co. lessened its position in shares of Dynex Capital, Inc. (NYSE:DX) by 24.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 185,557 shares of the real estate investment trust’s stock after selling 59,405 shares during the period. Sei Investments Co.’s holdings in Dynex Capital were worth $2,368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Balyasny Asset Management L.P. grew its stake in Dynex Capital by 87.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,136,636 shares of the real estate investment trust’s stock valued at $29,934,000 after acquiring an additional 998,736 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Dynex Capital by 79.8% in the third quarter. Millennium Management LLC now owns 2,235,018 shares of the real estate investment trust’s stock valued at $27,468,000 after purchasing an additional 992,269 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Dynex Capital by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 8,390,780 shares of the real estate investment trust’s stock valued at $117,555,000 after purchasing an additional 876,931 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Dynex Capital by 139.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 895,477 shares of the real estate investment trust’s stock valued at $12,546,000 after purchasing an additional 521,430 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Dynex Capital during the 4th quarter worth approximately $5,935,000. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on DX. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a report on Tuesday, July 21st. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. JonesTrading reiterated a “buy” rating and set a $14.75 price objective on shares of Dynex Capital in a research report on Tuesday, July 21st. Finally, UBS Group reissued a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Dynex Capital has an average rating of “Moderate Buy” and an average target price of $14.56.

Dynex Capital Stock Performance

Shares of DX opened at $12.94 on Friday. Dynex Capital, Inc. has a 1 year low of $11.82 and a 1 year high of $14.93. The company’s 50 day simple moving average is $12.98 and its 200 day simple moving average is $13.31. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 4.92 and a beta of 0.96. 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 earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $302.75 million during the quarter, compared to analysts’ expectations of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Dynex Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 15.8%. Dynex Capital’s payout ratio is currently 77.57%.

Dynex Capital Profile

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.