Raymond James Financial Inc. Buys Shares of 119,383 Dynex Capital, Inc. (NYSE:DX)

Raymond James Financial Inc. purchased a new position in shares of Dynex Capital, Inc. (NYSE:DX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 119,383 shares of the real estate investment trust’s stock, valued at approximately $1,510,000. Raymond James Financial Inc. owned 0.15% of Dynex Capital at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Westend Capital Management LLC boosted its position in shares of Dynex Capital by 37.0% during the 4th quarter. Westend Capital Management LLC now owns 3,406 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 919 shares during the period. Cambridge Advisors Inc. boosted its position in shares of Dynex Capital by 7.6% during the fourth quarter. Cambridge Advisors Inc. now owns 18,400 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 1,300 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Dynex Capital by 8.2% in the third quarter. The Manufacturers Life Insurance Company now owns 25,809 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 1,950 shares in the last quarter. Kovack Advisors Inc. grew its stake in shares of Dynex Capital by 11.6% in the fourth quarter. Kovack Advisors Inc. now owns 19,585 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 2,043 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Dynex Capital by 2.0% in the 4th quarter. Rhumbline Advisers now owns 107,570 shares of the real estate investment trust’s stock valued at $1,361,000 after buying an additional 2,072 shares during the period. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

Dynex Capital Price Performance

Shares of NYSE DX opened at $12.99 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 8.83 and a beta of 1.35. The stock’s 50-day moving average is $13.61 and its two-hundred day moving average is $12.89. Dynex Capital, Inc. has a 1-year low of $11.36 and a 1-year high of $14.52.

Dynex Capital (NYSE:DX) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Analysts forecast that Dynex Capital, Inc. will post 1.94 EPS for the current fiscal year.

Dynex Capital Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 24th were issued a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 15.71%. This is a positive change from Dynex Capital’s previous monthly dividend of $0.15. The ex-dividend date was Monday, March 24th. Dynex Capital’s dividend payout ratio (DPR) is presently 138.78%.

Analysts Set New Price Targets

Several equities analysts have weighed in on DX shares. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Thursday, January 23rd. StockNews.com raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.56.

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.