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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Wednesday, May 14th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 16.23%. 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 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 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 Price Performance

Dynex Capital stock opened at $12.57 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.35 billion, a PE ratio of 8.55 and a beta of 0.92. The firm’s 50-day simple moving average is $12.60 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 issued its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. The business had revenue of $17.13 million for the quarter, compared to the consensus estimate of $11.41 million. On average, equities research analysts predict that Dynex Capital will post 1.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. StockNews.com cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. Jones Trading reduced their target price on Dynex Capital from $13.25 to $12.50 and set a “buy” rating on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company 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.