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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Wednesday, March 11th. Stockholders of record on Monday, March 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 15.1%. The ex-dividend date of this dividend is Monday, March 23rd.

Dynex Capital has raised its dividend 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 0.6%

Dynex Capital stock opened at $13.52 on Thursday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 6.63 and a beta of 0.97. The stock has a 50 day moving average of $14.06 and a two-hundred day moving average of $13.50. Dynex Capital has a twelve month low of $10.79 and a twelve month high of $14.93.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on DX shares. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Dynex Capital in a research note on Thursday, January 29th. JonesTrading boosted their target price on Dynex Capital from $14.00 to $15.25 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dynex Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

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.