Dynex Capital, Inc. (DX) to Issue Monthly Dividend of $0.17 on June 1st

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, May 11th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.17 per share by the real estate investment trust on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 15.7%. The ex-dividend date is Thursday, May 21st.

Dynex Capital has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 5 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 Stock Performance

DX opened at $12.99 on Tuesday. Dynex Capital has a fifty-two week low of $11.70 and a fifty-two week high of $14.93. The company has a market capitalization of $2.79 billion, a P/E ratio of 7.68 and a beta of 0.97. The stock has a fifty day moving average of $13.16 and a 200-day moving average of $13.64.

Dynex Capital (NYSE:DX) last posted its earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share 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 firm had revenue of ($59.11) million for the quarter, compared to analyst estimates of $67.37 million.

Analyst Upgrades and Downgrades

DX has been the topic of a number of recent analyst reports. UBS Group restated a “neutral” rating and issued a $14.50 price target (up from $14.00) on shares of Dynex Capital in a research report on Friday, April 24th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Dynex Capital in a research report on Thursday, January 29th. Wall Street Zen cut Dynex Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. JonesTrading raised their price target on Dynex Capital from $14.00 to $15.25 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dynex Capital in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.