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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, October 14th, Wall Street Journal reports. Investors of record on Friday, October 25th will be paid a dividend of 0.13 per share by the real estate investment trust on Friday, November 1st. This represents a $1.56 annualized dividend and a yield of 12.59%. The ex-dividend date is Friday, October 25th.

Dynex Capital has a payout ratio of 152.9% 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 Up 0.6 %

Shares of DX stock opened at $12.39 on Wednesday. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.13. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $12.45 and its 200 day moving average is $12.19. The stock has a market capitalization of $795.54 million, a P/E ratio of 10.59 and a beta of 1.33.

Dynex Capital (NYSE:DX) last issued its quarterly earnings results on Monday, July 22nd. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.30). The business 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 quarter in the previous year, the company earned ($0.27) EPS. Research analysts expect that Dynex Capital will post 1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DX shares. StockNews.com cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.