Dynex Capital, Inc. to Issue Monthly Dividend of $0.15 (NYSE:DX)

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Wednesday, February 12th, Wall Street Journal reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.15 per share by the real estate investment trust on Monday, March 3rd. This represents a $1.80 dividend on an annualized basis and a yield of 12.80%. The ex-dividend date of this dividend is Monday, February 24th.

Dynex Capital has raised its dividend by an average of 120.9% per year over the last three years. Dynex Capital has a payout ratio of 121.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of DX opened at $14.07 on Friday. The stock has a 50-day moving average of $12.87 and a two-hundred day moving average of $12.59. Dynex Capital has a one year low of $11.36 and a one year high of $14.21. 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 stock has a market cap of $1.12 billion, a P/E ratio of 9.57 and a beta of 1.31.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 EPS 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%. As a group, research analysts predict that Dynex Capital will post 1.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. JMP Securities reissued a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.56.

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.