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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, May 11th. Investors of record on Thursday, May 21st will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, June 1st. This represents a c) annualized dividend and a yield of 15.3%. The ex-dividend date is Thursday, May 21st.

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

Dynex Capital Stock Down 0.3%

DX opened at $13.37 on Tuesday. The firm’s fifty day simple moving average is $13.23 and its two-hundred day simple moving average is $13.65. Dynex Capital has a 52-week low of $11.70 and a 52-week high of $14.93. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 7.91 and a beta of 0.97.

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 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 company had revenue of ($59.11) million for the quarter, compared to analysts’ expectations of $67.37 million.

Institutional Trading of Dynex Capital

A number of hedge funds and other institutional investors have recently modified their holdings of DX. PNC Financial Services Group Inc. boosted its position in shares of Dynex Capital by 93.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,638 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 3,205 shares during the last quarter. Swiss National Bank increased its position in Dynex Capital by 13.4% during the first quarter. Swiss National Bank now owns 290,533 shares of the real estate investment trust’s stock worth $3,707,000 after purchasing an additional 34,400 shares during the last quarter. Morling Financial Advisors LLC purchased a new position in Dynex Capital during the first quarter worth about $1,071,000. Independent Financial Group LLC purchased a new position in Dynex Capital during the first quarter worth about $300,000. Finally, Bank of New York Mellon Corp boosted its holdings in Dynex Capital by 25.3% in the 1st quarter. Bank of New York Mellon Corp now owns 689,040 shares of the real estate investment trust’s stock valued at $8,792,000 after purchasing an additional 139,083 shares during the last quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

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.