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

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

Dynex Capital has increased 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 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

DX stock opened at $14.07 on Friday. The stock has a 50-day simple moving average of $12.87 and a 200-day simple moving average of $12.59. The firm has a market cap of $1.12 billion, a P/E ratio of 9.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Dynex Capital has a 1 year low of $11.36 and a 1 year high of $14.21.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of 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 investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Dynex Capital currently has a consensus rating of “Moderate Buy” and a consensus target price 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.