Dynex Capital, Inc. (NYSE:DX) Plans Dividend Increase – $0.17 Per Share

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders 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 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 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. 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 Trading Up 1.4 %

Shares of NYSE DX opened at $14.07 on Friday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 9.57 and a beta of 1.31. The stock’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $12.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. Dynex Capital has a 12-month low of $11.36 and a 12-month high of $14.21.

Dynex Capital (NYSE:DX) last issued 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%. Equities research analysts expect that Dynex Capital will post 1.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DX shares. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research report on Thursday, January 23rd. StockNews.com raised Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Dynex Capital currently has an average 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.