Dynex Capital, Inc. (NYSE:DX) Plans Monthly Dividend of $0.13

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Monday, July 15th, Wall Street Journal reports. Investors of record on Tuesday, July 23rd will be given a dividend of 0.13 per share by the real estate investment trust on Thursday, August 1st. This represents a $1.56 annualized dividend and a yield of 12.51%. The ex-dividend date is Tuesday, July 23rd.

Dynex Capital has a dividend payout ratio of 283.6% 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 $1.27 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 122.8%.

Dynex Capital Stock Up 1.0 %

Dynex Capital stock traded up $0.12 during midday trading on Monday, hitting $12.47. 1,609,378 shares of the company were exchanged, compared to its average volume of 1,350,715. The company’s fifty day moving average price is $12.07 and its 200-day moving average price is $12.19. The company has a market cap of $800.70 million, a PE ratio of 10.61 and a beta of 1.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.18 and a quick ratio of 1.18. Dynex Capital has a fifty-two week low of $9.57 and a fifty-two week high of $13.56.

Wall Street Analyst Weigh In

Several research firms have issued reports on DX. Jonestrading restated a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a report on Monday, April 22nd. Keefe, Bruyette & Woods lowered their price target on Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a report on Thursday, April 18th. Janney Montgomery Scott began coverage on Dynex Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $13.50 price target for the company. Finally, Compass Point started coverage on Dynex Capital in a report on Friday, April 12th. They issued a “buy” rating and a $14.50 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.35.

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.