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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 14.50%. The ex-dividend date is Monday, March 24th. This is an increase from Dynex Capital’s previous monthly dividend of $0.15.

Dynex Capital has raised its dividend payment by an average of 120.9% annually over the last three years. Dynex Capital has a payout ratio of 121.6% meaning 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 $1.97 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 91.4%.

Dynex Capital Trading Up 1.4 %

Shares of DX stock traded up $0.20 on Friday, hitting $14.07. 4,802,314 shares of the company’s stock traded hands, compared to its average volume of 2,502,688. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Dynex Capital has a one year low of $11.36 and a one year high of $14.21. The company’s fifty day simple moving average is $12.87 and its 200 day simple moving average is $12.59. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.57 and a beta of 1.31.

Dynex Capital (NYSE:DX) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%. Equities analysts forecast that Dynex Capital will post 1.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DX shares. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. StockNews.com raised shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.56.

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.