Dynex Capital, Inc. (DX) Plans Quarterly Dividend of $0.18
Dynex Capital, Inc. (NYSE:DX) declared a quarterly dividend on Wednesday, September 13th, Wall Street Journal reports. Stockholders of record on Tuesday, October 3rd will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 10.14%. The ex-dividend date is Monday, October 2nd.
Dynex Capital has decreased its dividend by an average of 8.6% annually over the last three years. Dynex Capital has a dividend payout ratio of 105.9% 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 $0.69 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 104.3%.
Dynex Capital (NYSE DX) traded down 0.56% during midday trading on Wednesday, reaching $7.10. 221,194 shares of the company traded hands. The firm’s 50 day moving average price is $7.09 and its 200 day moving average price is $6.97. Dynex Capital has a 12 month low of $6.49 and a 12 month high of $7.51. The firm has a market capitalization of $349.56 million, a price-to-earnings ratio of 4.61 and a beta of 0.84.
Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Dynex Capital had a net margin of 93.54% and a return on equity of 11.04%. The company had revenue of $16.10 million for the quarter, compared to analyst estimates of $14.26 million. During the same period last year, the business posted $0.21 EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts expect that Dynex Capital will post $0.72 earnings per share for the current year.
Several brokerages have recently weighed in on DX. BidaskClub upgraded shares of Dynex Capital from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $7.00 target price on shares of Dynex Capital in a research report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.00.
Dynex Capital Company Profile
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage securities on a leveraged basis. The Company’s objective is to provide attractive risk-adjusted returns to its shareholders over the long term that is reflective of a leveraged fixed income portfolio with a focus on capital preservation.
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