Shares of Dynex Capital, Inc. (NYSE:DX) saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 827,539 shares were traded during trading, an increase of 142% from the previous session’s volume of 342,538 shares.The stock last traded at $7.20 and had previously closed at $7.06.
The newly announced dividend which will be paid on Friday, July 28th. Investors of record on Thursday, July 6th will be paid a $0.18 dividend. The ex-dividend date is Monday, July 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.00%. Dynex Capital’s dividend payout ratio (DPR) is presently 44.17%.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $7.00 price target on shares of Dynex Capital in a research note on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $7.13.
The firm’s 50 day moving average price is $6.88 and its 200-day moving average price is $6.88. The firm has a market cap of $354.27 million, a PE ratio of 4.41 and a beta of 0.91.
Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.05. The business had revenue of $14.90 million during the quarter, compared to the consensus estimate of $15.31 million. Dynex Capital had a return on equity of 11.78% and a net margin of 100.40%. During the same period last year, the company earned $0.22 earnings per share. Analysts anticipate that Dynex Capital, Inc. will post $0.68 EPS for the current year.
In other Dynex Capital news, Director Barry Igdaloff sold 7,693 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $6.90, for a total transaction of $53,081.70. Following the completion of the transaction, the director now directly owns 317,185 shares of the company’s stock, valued at approximately $2,188,576.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.14% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Family Management Corp purchased a new position in shares of Dynex Capital during the first quarter worth about $109,000. Bank of America Corp DE raised its position in shares of Dynex Capital by 34.5% in the first quarter. Bank of America Corp DE now owns 15,598 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 4,002 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Dynex Capital by 3.5% in the first quarter. HighTower Advisors LLC now owns 16,723 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 563 shares during the last quarter. Sterneck Capital Management LLC purchased a new position in shares of Dynex Capital during the first quarter worth about $163,000. Finally, Tudor Investment Corp Et Al raised its position in shares of Dynex Capital by 68.8% in the fourth quarter. Tudor Investment Corp Et Al now owns 25,057 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 10,212 shares during the last quarter. 44.64% of the stock is owned by hedge funds and other institutional investors.
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Dynex Capital Company Profile
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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