Dynex Capital, Inc. (DX) to Issue Monthly Dividend of $0.13 on October 1st

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Thursday, September 12th, Zacks reports. Shareholders of record on Monday, September 23rd will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, October 1st. This represents a $1.56 dividend on an annualized basis and a yield of 12.11%. The ex-dividend date of this dividend is Monday, September 23rd.

Dynex Capital has a payout ratio of 138.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Trading Down 0.6 %

NYSE DX opened at $12.88 on Friday. The company has a market cap of $962.26 million, a P/E ratio of 11.01 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 company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The company has a 50-day moving average of $12.41 and a 200-day moving average of $12.20.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate 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 last year, the business earned ($0.27) earnings per share. As a group, equities analysts predict that Dynex Capital will post 1 earnings per share for the current year.

Analyst Upgrades and Downgrades

DX has been the topic of several research reports. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Wednesday, August 28th. StockNews.com lowered Dynex Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, Janney Montgomery Scott started coverage on Dynex Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $13.50 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.