Dynex Capital, Inc. (NYSE:DX) Sees Significant Growth in Short Interest

Dynex Capital, Inc. (NYSE:DX) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,580,000 shares, a growth of 16.3% from the October 15th total of 4,800,000 shares. Based on an average daily trading volume, of 1,930,000 shares, the days-to-cover ratio is presently 2.9 days.

Institutional Trading of Dynex Capital

Several hedge funds and other institutional investors have recently made changes to their positions in DX. Geode Capital Management LLC raised its stake in Dynex Capital by 17.5% during the third quarter. Geode Capital Management LLC now owns 1,701,740 shares of the real estate investment trust’s stock valued at $21,718,000 after buying an additional 253,660 shares during the last quarter. Barclays PLC increased its holdings in shares of Dynex Capital by 833.2% during the third quarter. Barclays PLC now owns 218,853 shares of the real estate investment trust’s stock valued at $2,793,000 after acquiring an additional 195,400 shares in the last quarter. State Street Corp raised its position in shares of Dynex Capital by 2.9% in the 3rd quarter. State Street Corp now owns 1,550,115 shares of the real estate investment trust’s stock worth $19,977,000 after purchasing an additional 44,302 shares during the last quarter. Systematic Financial Management LP bought a new position in Dynex Capital in the 3rd quarter worth about $914,000. Finally, Centiva Capital LP purchased a new stake in Dynex Capital during the 3rd quarter valued at about $321,000. Hedge funds and other institutional investors own 38.34% of the company’s stock.

Dynex Capital Stock Up 0.3 %

Shares of NYSE DX traded up $0.04 during mid-day trading on Friday, hitting $12.42. 1,942,561 shares of the stock traded hands, compared to its average volume of 1,556,386. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $984.96 million, a price-to-earnings ratio of 9.85 and a beta of 1.32. The stock has a fifty day moving average price of $12.47 and a 200-day moving average price of $12.28. Dynex Capital has a 52 week low of $11.11 and a 52 week high of $13.13.

Dynex Capital (NYSE:DX) last released its earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). Dynex Capital had a negative return on equity of 4.80% and a net margin of 28.83%. The business had revenue of $83.46 million during the quarter, compared to analysts’ expectations of $4.92 million. During the same period in the prior year, the company earned ($0.28) earnings per share. Research analysts anticipate that Dynex Capital will post 1.03 EPS for the current year.

Dynex Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.15 per share. This represents a $1.80 annualized dividend and a dividend yield of 14.49%. This is a positive change from Dynex Capital’s previous monthly dividend of $0.13. The ex-dividend date of this dividend is Friday, November 22nd. Dynex Capital’s dividend payout ratio (DPR) is presently 142.86%.

Analysts Set New Price Targets

A number of research firms have commented on DX. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Wednesday, August 28th. StockNews.com downgraded Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.35.

Dynex Capital Company Profile

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.