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

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, June 11th. Investors of record on Monday, June 22nd will be given 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 is Monday, June 22nd.

Dynex Capital has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 5 consecutive 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

NYSE:DX opened at $12.91 on Friday. The stock has a market cap of $2.78 billion, a P/E ratio of 7.64 and a beta of 0.95. Dynex Capital has a one year low of $11.76 and a one year high of $14.93. The company has a fifty day moving average price of $13.15 and a 200 day moving average price of $13.57.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research note on Friday, March 27th. UBS Group restated a “neutral” rating and issued a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Finally, Wall Street Zen cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently 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.