Dynex Capital, Inc. (NYSE:DX) to Issue $0.17 Monthly Dividend

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, April 14th, Wall Street Journal reports. Shareholders of record on Wednesday, April 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Thursday, May 1st. This represents a $2.04 dividend on an annualized basis and a yield of 17.45%. The ex-dividend date of this dividend is Wednesday, April 23rd.

Dynex Capital has increased its dividend by an average of 120.9% annually over the last three years. Dynex Capital has a dividend payout ratio of 125.2% meaning 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 may not be able to cover its $2.04 annual dividend with an expected future payout ratio of 103.6%.

Dynex Capital Stock Performance

Shares of DX traded up $0.30 during trading hours on Monday, hitting $11.69. The stock had a trading volume of 4,446,188 shares, compared to its average volume of 2,202,547. Dynex Capital has a 12 month low of $10.79 and a 12 month high of $14.52. The stock has a fifty day moving average price of $13.40 and a 200 day moving average price of $12.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $1.12 billion, a PE ratio of 7.95 and a beta of 1.14.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 EPS 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%. Analysts anticipate that Dynex Capital will post 1.94 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DX shares. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Dynex Capital from $13.25 to $12.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.33.

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.