Dynex Capital, Inc. (NYSE:DX) Declares $0.15 Monthly Dividend

Dynex Capital, Inc. (NYSE:DX) declared 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 dividend yield of 13.37%. The ex-dividend date is Monday, February 24th.

Dynex Capital has raised its dividend payment by an average of 125.9% annually over the last three years. Dynex Capital has a dividend 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. 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 trading on Thursday, reaching $13.46. The stock had a trading volume of 2,384,370 shares, compared to its average volume of 2,383,658. 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 $13.48. The stock has a market cap of $1.07 billion, a PE ratio of 9.16 and a beta of 1.31. The business has a fifty day moving average price of $12.74 and a 200-day moving average price of $12.53.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. On average, equities analysts forecast that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on DX shares. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.