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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Monday, March 24th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 14.50%. The ex-dividend date of this dividend is Monday, March 24th. This is a boost from Dynex Capital’s previous monthly dividend of $0.15.

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 121.6% 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 $1.97 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 91.4%.

Dynex Capital Price Performance

Shares of NYSE:DX traded up $0.20 during midday trading on Friday, reaching $14.07. 5,560,568 shares of the company were exchanged, compared to its average volume of 2,511,471. Dynex Capital has a one year low of $11.36 and a one year high of $14.21. 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 business’s fifty day moving average is $12.90 and its two-hundred day moving average is $12.61. The stock has a market cap of $1.12 billion, a PE ratio of 9.57 and a beta of 1.31.

Dynex Capital (NYSE:DX) last posted 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%. As a group, analysts predict that Dynex Capital will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on DX shares. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. StockNews.com raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.56.

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.