Dynex Capital, Inc. (NYSE:DX) Plans Monthly Dividend of $0.17

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

Dynex Capital has increased its dividend payment by an average of 120.9% per year over the last three years. Dynex Capital has a dividend payout ratio of 125.2% 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 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

DX stock traded up $0.30 during trading on Monday, hitting $11.69. 4,446,188 shares of the company traded hands, compared to its average volume of 2,202,547. 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 stock’s 50-day simple moving average is $13.40 and its 200 day simple moving average is $12.84. Dynex Capital has a 1 year low of $10.79 and a 1 year high of $14.52. The company has a market cap of $1.12 billion, a PE ratio of 7.95 and a beta of 1.14.

Dynex Capital (NYSE:DX) last issued 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 negative return on equity of 2.24% and a net margin of 35.65%. On average, equities analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DX. StockNews.com raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lowered 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.33.

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.