Dynex Capital, Inc. (NYSE:DX) Increases Dividend to $0.15 Per Share

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Monday, October 21st,Wall Street Journal reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.15 per share by the real estate investment trust on Monday, December 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.50%. The ex-dividend date of this dividend is Friday, November 22nd. This is a positive change from Dynex Capital’s previous monthly dividend of $0.13.

Dynex Capital has a dividend payout ratio of 140.6% 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 analysts expect Dynex Capital to earn $1.87 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 96.3%.

Dynex Capital Stock Down 0.7 %

DX stock opened at $12.41 on Thursday. The company has a market cap of $984.11 million, a price-to-earnings ratio of 9.85 and a beta of 1.32. The company has a fifty day moving average price of $12.47 and a 200 day moving average price of $12.29. 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 has a 12 month low of $11.11 and a 12 month high of $13.13.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). Dynex Capital had a negative return on equity of 4.80% and a net margin of 28.83%. The company had revenue of $83.46 million for the quarter, compared to analysts’ expectations of $4.92 million. During the same period in the prior year, the business earned ($0.28) EPS. Sell-side analysts expect that Dynex Capital will post 1.03 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DX shares. StockNews.com downgraded Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.35.

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.