Dynex Capital, Inc. (NYSE:DX) Announces $0.13 Monthly Dividend

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Tuesday, August 13th, Wall Street Journal reports. Investors of record on Friday, August 23rd will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, September 3rd. This represents a $1.56 annualized dividend and a yield of 12.81%. The ex-dividend date is Friday, August 23rd.

Dynex Capital has a dividend payout ratio of 216.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Up 0.7 %

Shares of DX stock traded up $0.09 during mid-day trading on Tuesday, hitting $12.18. The stock had a trading volume of 758,953 shares, compared to its average volume of 1,386,989. The firm has a market capitalization of $782.05 million, a P/E ratio of 10.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.40. The firm’s 50-day moving average is $12.05 and its two-hundred day moving average is $12.15.

Dynex Capital (NYSE:DX) last issued its quarterly earnings data on Monday, July 22nd. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.30). The company had revenue of $76.05 million for the quarter. Dynex Capital had a negative return on equity of 6.08% and a net margin of 4.63%. During the same period in the prior year, the business earned ($0.27) EPS. On average, analysts predict that Dynex Capital will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DX shares. Jonestrading reissued a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a report on Monday, April 22nd. Janney Montgomery Scott began coverage on Dynex Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $13.50 price objective for the company. Keefe, Bruyette & Woods lowered their price target on shares of Dynex Capital from $13.50 to $12.25 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, April 18th. Finally, StockNews.com downgraded Dynex Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One research 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’s stock. Based on data from MarketBeat.com, Dynex Capital 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.