Dynex Capital, Inc. (NYSE:DX) Announces Dividend Increase – $0.15 Per Share

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Tuesday, October 22nd, Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.15 per share by the real estate investment trust on Monday, December 2nd. This represents a $1.80 annualized dividend and a yield of 14.43%. The ex-dividend date of this dividend is Friday, November 22nd. This is a positive change from Dynex Capital’s previous monthly dividend of $0.13.

Dynex Capital has a dividend payout ratio of 154.5% 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 $1.43 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 %

DX stock opened at $12.47 on Wednesday. The company has a market capitalization of $931.63 million, a price-to-earnings ratio of 207.83 and a beta of 1.33. 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 1-year low of $9.57 and a 1-year high of $13.13. The business has a 50 day simple moving average of $12.49 and a two-hundred day simple moving average of $12.20.

Dynex Capital (NYSE:DX) last issued its earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). The company had revenue of $83.46 million for the quarter, compared to the consensus estimate of $4.92 million. Dynex Capital had a negative return on equity of 6.08% and a net margin of 4.63%. During the same quarter in the prior year, the company posted ($0.28) EPS. Research analysts anticipate that Dynex Capital will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DX has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a report on Wednesday, August 28th. StockNews.com lowered shares of Dynex Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Dynex Capital has an average rating of “Hold” and an average 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.