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Dynex Capital Pays 12% Dividend Yield And Earns A Recommended Buy And Hold
- Dynex Capital announces $0.25 dividend, 12% yield.
- Insider selling over last 6 months mostly linked to key leaders taking some cash.
- Federal Reserve Board comment this week was to hold the interest rate near zero.
- Outlook for Dynex is to hold the stock and take the dividend each quarter.
Dynex Capital Is The Best Buy In The MREIT Universe.
- Dynex Capital has a 5yr DGR of 6%.
- Dynex Capital is also down over 16% in the last 52 weeks, meaning it might be undervalued from BV.
- Has consistently raised Cash Flow for the last 6 years and could raise it again this year.
Dynex Capital Pays Strong Dividend, Offers Positive Outlook For Second Half Of 2014
- Second Quarter Dividend of $0.25 for an 11.7% yield.
- Dynex Capital is small REIT, but positioned to maintain double-digit return.
- Company offers DRIP with a 3% discount.
- Stock price appreciation expected in second half of 2014.
Dynex Capital: A Conservative mREIT With An 11% Yield
Investing In A Housing Recovery With Dynex CapitalDr. Duru • Jan. 30, 2012
Tue, Nov. 4, 9:24 AM
- Q3 core NOI of $13.8M or $0.25 per share vs. $14.1M and $0.26 in Q2. Dividend of $0.25.
- Book value per share of $9.14 up $0.02 from Q2. Last night's close of $8.39 is a 8.2% discount to book.
- Adjusted net interest spread of 1.93% up one basis point from Q2 as cost of funds drops five bps to 0.70%.
- Company cut CMBS holdings to $608.6M from $746.5M. RMBS holdings of $2.3B vs. $2.48B.
- Conference call at 11 ET
- Previously: Dynex Capital misses by $0.02
- DX flat premarket
Tue, Nov. 4, 8:42 AM
Mon, Nov. 3, 5:30 PM
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Fri, Oct. 24, 9:52 AM
- Analyst Steven Delaney spots value in one of the mortgage REIT sector's underperformers this year, and initiates coverage on Dynex Capital (DX) with a Market Outperform and $9 price target.
- Dynex is up just 3.75% YTD vs. many in the sector higher by well into the double-digits. Two names downgraded by JMP this week, American Capital Agency and AG Mortgage are each higher by nearly 20% in 2014.
Thu, Oct. 9, 10:40 AM
- It's been a good week for mortgage REITs (REM +0.7%) which rose on Tuesday as the broad market tumbled and brought yields down with it, rose more on Wednesday, this time alongside a major broad market rally on dovish FOMC minutes, and are on the move higher again today as the averages again head south.
- Down to 2.28% earlier in the session (a 16-month low), the 10-year Treasury yield is now flat on the day at 2.32%.
- This week's strong move comes following a tough September in which the mREITs gave back a nice chunk of their YTD gains.
- Annaly (NLY +1.2%) is up nearly 5% over the last four sessions. American Capital Agency (AGNC +1.5%) is ahead more than 6%.
- Others: Armour (ARR +1%), Chimera (CIM +1%), CYS Investments (CYS +1.2%), New York Mortgage (NYMT +1.3%), Anworth (ANH +0.8%), Dynex (DX +1%), Javelin (JMI +1.5%), Five Oaks (OAKS +0.9%).
- Other ETFs: MORT, MORL
Tue, Sep. 30, 3:05 PM
- Many in the sector (REM -0.9%) presented today at the JMP Financial Services and Real Estate Conference. Those heard in full by this reporter - CYS Investments (CYS -1.6%), Hatteras Financial (HTS -0.9%), and MFA Financial (MFA -1.3%) - presented nothing alarming, but the sector is nevertheless lit up bright red.
- Other presenters included Capstead Mortgage (CMO -1.2%), Arlington Asset (AI -2.2%), Dynex Capital (DX -1.7%), Invesco (IVR -1.2%), Armour (ARR -2%), New York Mortgage Trust (NYMT -3.2%), Javelin Mortgage (JMI -1.5%), Five Oaks Investment (OAKS -1.9%), and Apollo Residential (AMTG -1.1%).
- Related ETFs: MORT, MORL
- Previously: CYS's Grant not buying hawkish ideas from Fed
- Previously: Hatteras updates on Q3 at conference
- Previously: MFA Financial positions for further housing improvement
Wed, Sep. 17, 2:51 PM
- Another $10B taper this month brings QE to just $5B monthly, an amount the FOMC expects to go down to zero with its next policy meeting. The "dots" shifted somewhat higher - meaning maybe a slightly earlier start to Fed rate hikes and a higher level of Fed Funds at the end of the next few years, with the median forecast being 2.9% at the end of 2016.
- Mortgage REITs (REM +0.2%) have been under pressure in the sessions ahead of the FOMC, and are mostly snoozing through today's news.
- Annaly (NLY -0.1%), American Capital Agency (AGNC +0.1%), CYS Investments (CYS +0.2%), New York Mortgage Trust (NYMT +0.5%), Dynex (DX +0.8%), Ellington Residential (EARN +1.2%), Javelin (JMI +1.3%).
- Previously: FOMC statement and projections lean hawkish
- Previously: Yellen press conference: Falling UE rate still masking labor market weakness
Wed, Sep. 17, 10:00 AM
Tue, Sep. 2, 2:26 PM
- REITs and other so-called "shadow bankers" for the last several years have used captive insurers to join Federal Home Loan Banks, thus getting access to more dependable financing and better terms than they otherwise could.
- The FHFA for some time has voiced its concern over the practice, and under new rules just proposed, would sunset those existing memberships over a five year period.
- ETFs: REM, MORT, MORL
- Two Harbors (TWO -1.8%), Invesco Mortgage (IVR -1.9%), Hatteras Financial (HTS -1.2%), Dynex Capital (DX -1.1%), PennyMac Mortgage (PMT -1.5%), Annaly Capital (NLY -0.8%), American Capital Agency (AGNC -0.3%).
Wed, Jul. 30, 8:54 AM
- Q2 core NOI of $14.1M or $0.26 per share vs. $13.7M or $0.25 in Q1. The dividend is $0.25.
- Book value per share of $9.12 vs. $8.87 at end of Q1. Last night's close of $8.44 is a 7.5% discount to book.
- Adjusted net interest spread of 1.92% up 4 basis points from Q1.
- CPR of 11.1% up 80 bps.
- End-of-period leverage falls to 5.7x from 5.9x (it was 6.8x a year ago).
- RMBS holdings continue to be trimmed a bit, while CMBS holdings are added to.
- Conference call at 11 ET
- Previously: Dynex Capital beats by $0.01
- DX flat premarket
Wed, Jul. 30, 8:40 AM
Tue, Jul. 29, 5:30 PM
- AB, ACCO, ADT, AMED, AMT, ATRO, AUO, BAH, BDC, BEN, CFR, CVE, D, DHX, DORM, DX, ENR, EVER, GIB, GRMN, GT, HAE, HES, HSP, HUM, HUN, IACI, ICLR, INGR, LFUS, LL, LO, LPLA, MGAM, MINI, MMYT, MRGE, MWV, NICE, NVMI, PAG, PBI, PEG, PSX, PSXP, PTRY, ROK, RRD, S, SAIA, SEE, SGNT, SMP, SO, SODA, SONS, SPB, SPW, TASR, TFX, TRI, VLO, VLY, WEC, WLP
Thu, Jul. 3, 9:56 AM
- A few days ago, the 10-year Treasury yield stood at about 2.50%, but it's been on the rise all week and shot up to near 2.7% this morning following the strong jobs print and drop in unemployment to 6.1%. Checking the short end of the curve, Eurodollar futures are selling off as well, and now have baked in more than one rate hike between now and one year from now, and 75 basis points of hikes by the end of 2015.
- Previously: Treasury yields jump, gold slumps after strong jobs print
- Off 1.1% today, Annaly Capital (NLY) is down nearly 5% since this time last week, with a similar move having taken place in American Capital Agency (AGNC -1.2%).
- Chimera (CIM -1.4%), CYS Investments (CYS -1%), Invesco Mortgage (IVR -1.8%), American Capital Mortgage (MTGE -1.6%), New York Mortgage Trust (NYMT -1.2%), AG Mortgage (MITT -1.8%), Ellington Residential (EARN -0.7%), Dynex (DX -0.8%), MFA Financial (MFA -0.9%).
- ETFs: REM, MORT, MORL
Mon, Jun. 16, 4:46 PM
Fri, May. 9, 2:16 PM
- BofA Merrill Lynch upgrades National Bank of Greece (NBG +1.7%) to Neutral.
- Raymond James boosts Valley National Bancorp (VLY +0.9%) to Market Perform and concurrently cashes in its Buy call on United Bancorp (FUBC +0.7%) after Valley National Bank agrees to acquire 1st United.
- MLV cuts Dynex Capital (DX -0.4%) from Buy to Hold.
Wed, May. 7, 8:28 AM
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