Dynex Capital, Inc. (DX) To Go Ex-Dividend on June 23rd

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, June 12th, Wall Street Journal reports. Investors of record on Monday, June 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 16.74%. The ex-dividend date of this dividend is Monday, June 23rd.

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. 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 Down 0.2%

Shares of NYSE DX opened at $12.19 on Friday. Dynex Capital has a twelve month low of $10.79 and a twelve month high of $14.52. The firm has a market cap of $1.31 billion, a P/E ratio of 15.82 and a beta of 0.93. The company has a 50 day moving average of $12.14 and a 200 day moving average of $12.73.

Dynex Capital (NYSE:DX) last announced its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Dynex Capital had a net margin of 20.61% and a return on equity of 1.59%. The company had revenue of $17.13 million during the quarter, compared to analyst estimates of $11.41 million. As a group, equities analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dynex Capital

An institutional investor recently raised its position in Dynex Capital stock. AQR Capital Management LLC raised its stake in shares of Dynex Capital, Inc. (NYSE:DX) by 54.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,183 shares of the real estate investment trust’s stock after buying an additional 36,455 shares during the period. AQR Capital Management LLC owned about 0.10% of Dynex Capital worth $1,343,000 as of its most recent SEC filing. 38.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DX. Jones Trading decreased their price objective on shares of Dynex Capital from $13.25 to $12.50 and set a “buy” rating for the company in a report on Monday, April 21st. Wall Street Zen lowered shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Dynex Capital from $13.25 to $12.50 and set an “outperform” rating for the company in a report on Tuesday, April 8th.

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.