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

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Tuesday, October 15th, Wall Street Journal reports. Shareholders of record on Friday, October 25th will be paid a dividend of 0.13 per share by the real estate investment trust on Friday, November 1st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.59%. The ex-dividend date of this dividend is Friday, October 25th.

Dynex Capital has a payout ratio of 152.9% meaning 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 $1.43 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

DX stock traded up $0.08 during mid-day trading on Tuesday, reaching $12.39. 1,379,275 shares of the company’s stock were exchanged, compared to its average volume of 1,442,018. The company has a market cap of $795.54 million, a price-to-earnings ratio of 10.64 and a beta of 1.33. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.13. The stock’s 50 day moving average is $12.44 and its 200 day moving average is $12.19. 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 (NYSE:DX) last released its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.30). The company had revenue of $76.05 million during the quarter. Dynex Capital had a net margin of 4.63% and a negative return on equity of 6.08%. During the same quarter in the prior year, the company earned ($0.27) earnings per share. On average, research analysts expect that Dynex Capital will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.