Dynex Capital, Inc. (DX) to Issue Monthly Dividend of $0.13 on September 3rd

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, August 12th, Wall Street Journal reports. Stockholders of record on Friday, August 23rd will be given a dividend of 0.13 per share by the real estate investment trust on Tuesday, September 3rd. This represents a $1.56 annualized dividend and a dividend yield of 12.82%. The ex-dividend date is Friday, August 23rd.

Dynex Capital has a dividend payout ratio of 216.7% 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 $1.43 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 109.1%.

Dynex Capital Stock Performance

Shares of DX remained flat at $12.17 during mid-day trading on Wednesday. The stock had a trading volume of 259,341 shares, compared to its average volume of 1,380,600. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The business has a fifty day moving average of $12.04 and a 200-day moving average of $12.14. The stock has a market capitalization of $909.22 million, a price-to-earnings ratio of 10.41 and a beta of 1.34. Dynex Capital has a 1-year low of $9.57 and a 1-year high of $13.40.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.30). The business had revenue of $76.05 million during the quarter. Dynex Capital had a net margin of 4.63% and a negative return on equity of 6.08%. During the same period in the prior year, the company earned ($0.27) earnings per share. As a group, sell-side analysts predict that Dynex Capital will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DX shares. Keefe, Bruyette & Woods reduced their price objective on Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. StockNews.com cut Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Janney Montgomery Scott started coverage on Dynex Capital in a report on Thursday, June 6th. They set a “buy” rating and a $13.50 price objective for the company. Jonestrading reaffirmed a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a report on Monday, April 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.