Dynex Capital, Inc. (NYSE:DX) Plans Monthly Dividend of $0.15

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.15 per share by the real estate investment trust on Monday, March 3rd. This represents a $1.80 annualized dividend and a dividend yield of 13.37%. The ex-dividend date of this dividend is Monday, February 24th.

Dynex Capital has increased its dividend payment by an average of 125.9% annually over the last three years. Dynex Capital has a dividend payout ratio of 121.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Dynex Capital to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 91.4%.

Dynex Capital Stock Performance

Shares of Dynex Capital stock traded up $0.20 during trading on Thursday, hitting $13.46. 2,380,677 shares of the stock were exchanged, compared to its average volume of 2,383,473. The stock’s fifty day moving average is $12.74 and its 200 day moving average is $12.53. The stock has a market cap of $1.07 billion, a PE ratio of 9.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Dynex Capital has a 12 month low of $11.36 and a 12 month high of $13.48.

Dynex Capital (NYSE:DX) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. As a group, sell-side analysts anticipate that Dynex Capital will post 1.94 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Dynex Capital has a consensus rating of “Moderate Buy” and a consensus target price of $13.56.

About Dynex Capital

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.