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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, April 13th. Shareholders of record on Thursday, April 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, May 1st. This represents a c) dividend on an annualized basis and a yield of 15.4%. The ex-dividend date of this dividend is Thursday, April 23rd.

Dynex Capital has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Dynex Capital has a 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 Trading Up 1.2%

Shares of DX opened at $13.24 on Wednesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 6.49 and a beta of 0.99. The firm’s fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $13.58. Dynex Capital has a 12 month low of $11.22 and a 12 month high of $14.93.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, January 26th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.26). The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $59.41 million. Dynex Capital had a net margin of 59.80% and a return on equity of 6.83%. As a group, research analysts predict that Dynex Capital will post 1.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Dynex Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC acquired a new stake in shares of Dynex Capital in the 4th quarter worth about $307,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Dynex Capital in the 4th quarter worth about $245,000. Vident Advisory LLC acquired a new stake in shares of Dynex Capital in the 4th quarter worth about $253,000. Tudor Investment Corp ET AL acquired a new stake in shares of Dynex Capital in the 4th quarter worth about $520,000. Finally, Engineers Gate Manager LP raised its holdings in shares of Dynex Capital by 290.8% in the 4th quarter. Engineers Gate Manager LP now owns 151,377 shares of the real estate investment trust’s stock worth $2,121,000 after acquiring an additional 112,644 shares during the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.