Dynex Capital, Inc. (DX) to Issue Monthly Dividend of $0.17 on April 1st

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders 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 dividend yield of 14.50%. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Dynex Capital’s previous monthly dividend of $0.15.

Dynex Capital has increased 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. 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

Shares of NYSE DX traded up $0.20 during mid-day trading on Friday, reaching $14.07. The company had a trading volume of 5,560,568 shares, compared to its average volume of 2,511,471. The company has a 50-day moving average price of $12.90 and a two-hundred day moving average price of $12.61. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.12 billion, a PE ratio of 9.57 and a beta of 1.31. Dynex Capital has a 1-year low of $11.36 and a 1-year high of $14.21.

Dynex Capital (NYSE:DX) last released 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 net margin of 35.65% and a negative return on equity of 2.24%. 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 brokerages have recently commented on DX. StockNews.com upgraded Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.