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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Wednesday, May 14th, Wall Street Journal reports. Shareholders of record on Friday, May 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Monday, June 2nd. This represents a $2.04 annualized dividend and a yield of 16.27%. The ex-dividend date of this dividend is Friday, May 23rd.

Dynex Capital has raised its dividend by an average of 120.9% annually over the last three years and has raised its dividend every year for the last 5 years. Dynex Capital has a dividend payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

Shares of DX stock opened at $12.54 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.34 billion, a PE ratio of 8.53 and a beta of 0.92. The company’s fifty day simple moving average is $12.63 and its 200-day simple moving average is $12.78. Dynex Capital has a 52 week low of $10.79 and a 52 week high of $14.52.

Dynex Capital (NYSE:DX) last released its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. As a group, equities research analysts anticipate that Dynex Capital will post 1.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DX shares. StockNews.com downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price target on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Jones Trading lowered their price objective on Dynex Capital from $13.25 to $12.50 and set a “buy” rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.83.

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.