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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, July 13th. Stockholders of record on Thursday, July 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 15.7%. The ex-dividend date of this dividend is Thursday, July 23rd.

Dynex Capital has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 5 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.

Dynex Capital Price Performance

Dynex Capital stock opened at $12.98 on Tuesday. Dynex Capital has a 1-year low of $11.82 and a 1-year high of $14.93. The stock’s 50 day moving average price is $13.04 and its 200 day moving average price is $13.45. The company has a market cap of $2.79 billion, a PE ratio of 7.68 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research note on Wednesday, June 24th. BTIG Research set a $14.50 price target on shares of Dynex Capital in a research report on Wednesday, June 17th. Wall Street Zen downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $14.50 target price (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dynex Capital has an average rating of “Moderate Buy” and an average price target of $14.69.

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.