Dynex Capital, Inc. (NYSE:DX) to Issue $0.15 Monthly Dividend

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Monday, February 24th will be given a dividend of 0.15 per share by the real estate investment trust on Monday, March 3rd. This represents a $1.80 annualized dividend and a yield of 13.37%. The ex-dividend date of this dividend is Monday, February 24th.

Dynex Capital has increased its dividend by an average of 125.9% per year over the last three years. Dynex Capital has a dividend 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. 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 1.5 %

NYSE DX traded up $0.20 during mid-day trading on Thursday, hitting $13.46. The company’s stock had a trading volume of 2,380,677 shares, compared to its average volume of 2,383,473. Dynex Capital has a 52-week low of $11.36 and a 52-week high of $13.48. The stock’s fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $12.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $1.07 billion, a P/E ratio of 9.16 and a beta of 1.31.

Dynex Capital (NYSE:DX) last posted its quarterly 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%. Research analysts expect that Dynex Capital will post 1.94 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.56.

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.