Dynex Capital, Inc. (DX) To Go Ex-Dividend on June 22nd

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, June 11th. Investors of record on Monday, June 22nd will be paid a dividend of 0.17 per share by the real estate investment trust on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 15.8%. The ex-dividend date of this dividend is Monday, June 22nd.

Dynex Capital has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Dynex Capital has a dividend payout ratio of 133.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Dynex Capital Price Performance

Shares of DX stock opened at $12.92 on Friday. Dynex Capital has a 1-year low of $11.76 and a 1-year high of $14.93. The stock’s fifty day moving average price is $13.16 and its 200 day moving average price is $13.56. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 7.64 and a beta of 0.95.

Dynex Capital (NYSE:DX) last announced its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Dynex Capital had a return on equity of 7.86% and a net margin of 34.75%.The business had revenue of ($59.11) million for the quarter, compared to analysts’ expectations of $67.37 million.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Friday, March 27th. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, UBS Group restated a “neutral” rating and set a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.75.

Dynex Capital Company Profile

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.