Dynex Capital, Inc. (NYSE:DX) Increases Dividend to $0.15 Per Share

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, October 21st, Wall Street Journal reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.15 per share by the real estate investment trust on Monday, December 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.30%. The ex-dividend date is Friday, November 22nd. This is a boost from Dynex Capital’s previous monthly dividend of $0.13.

Dynex Capital has a dividend payout ratio of 154.5% 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 $1.43 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 109.1%.

Dynex Capital Price Performance

NYSE DX traded up $0.12 on Wednesday, hitting $12.59. 2,062,245 shares of the company were exchanged, compared to its average volume of 1,486,719. The company has a market cap of $808.38 million, a P/E ratio of 10.58 and a beta of 1.33. Dynex Capital has a 1-year low of $9.57 and a 1-year high of $13.13. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $12.49 and a two-hundred day moving average of $12.20.

Dynex Capital (NYSE:DX) last released its earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). The business had revenue of $83.46 million for the quarter, compared to analyst estimates of $4.92 million. Dynex Capital had a net margin of 4.63% and a negative return on equity of 6.08%. During the same quarter in the previous year, the company posted ($0.28) earnings per share. On average, equities analysts predict that Dynex Capital will post 1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DX shares. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a report on Wednesday, August 28th. StockNews.com cut Dynex Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.35.

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.