Dynex Capital, Inc. (NYSE:DX) to Issue Dividend Increase – $0.17 Per Share

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Monday, March 24th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 14.50%. The ex-dividend date is Monday, March 24th. This is a positive change from Dynex Capital’s previous monthly dividend of $0.15.

Dynex Capital has raised its dividend payment by an average of 120.9% annually over the last three years. Dynex Capital has a dividend payout ratio of 121.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Dynex Capital to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 91.4%.

Dynex Capital Price Performance

NYSE:DX traded up $0.20 during mid-day trading on Friday, reaching $14.07. The stock had a trading volume of 4,802,314 shares, compared to its average volume of 2,502,688. The stock has a 50-day simple moving average of $12.87 and a two-hundred day simple moving average of $12.59. The stock has a market capitalization of $1.12 billion, a PE ratio of 9.57 and a beta of 1.31. Dynex Capital has a 12 month low of $11.36 and a 12 month high of $14.21. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. On average, equities analysts anticipate that Dynex Capital will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DX. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Dynex Capital has an average rating of “Moderate Buy” and a consensus 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.