Dynex Capital, Inc. Announces Monthly Dividend of $0.13 (NYSE:DX)

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Tuesday, August 13th, Wall Street Journal reports. Shareholders of record on Friday, August 23rd will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, September 3rd. This represents a $1.56 annualized dividend and a dividend yield of 12.81%. The ex-dividend date of this dividend is Friday, August 23rd.

Dynex Capital has a payout ratio of 216.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Dynex Capital to earn $1.43 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 109.1%.

Dynex Capital Stock Up 0.7 %

DX traded up $0.09 during trading hours on Tuesday, hitting $12.18. 758,953 shares of the company’s stock were exchanged, compared to its average volume of 1,386,989. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock’s 50-day moving average is $12.05 and its two-hundred day moving average is $12.15. The stock has a market cap of $782.05 million, a price-to-earnings ratio of 10.33 and a beta of 1.34. Dynex Capital has a 1-year low of $9.57 and a 1-year high of $13.40.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.30). The company had revenue of $76.05 million during the quarter. Dynex Capital had a net margin of 4.63% and a negative return on equity of 6.08%. During the same quarter in the prior year, the business posted ($0.27) EPS. Sell-side analysts predict that Dynex Capital will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on DX shares. Jonestrading reaffirmed a “buy” rating and set a $14.00 price target on shares of Dynex Capital in a research report on Monday, April 22nd. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, April 18th. StockNews.com cut Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Janney Montgomery Scott started coverage on Dynex Capital in a research report on Thursday, June 6th. They issued a “buy” rating and a $13.50 price target on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.35.

About Dynex Capital

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.