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

Dynex Capital, Inc. (NYSE:DX) declared 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 dividend on an annualized basis and a dividend yield of 14.43%. The ex-dividend date is Friday, November 22nd. This is a boost 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 Price Performance

DX traded down $0.08 during midday trading on Tuesday, reaching $12.47. 2,326,507 shares of the company’s stock were exchanged, compared to its average volume of 1,483,831. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $12.48 and a two-hundred day simple moving average of $12.20. The firm has a market capitalization of $931.63 million, a price-to-earnings ratio of 208.67 and a beta of 1.33. Dynex Capital has a one year low of $9.57 and a one year high of $13.13.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, October 21st. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.39). The company had revenue of $83.46 million during the quarter, compared to analyst estimates of $4.92 million. Dynex Capital had a net margin of 4.63% and a negative return on equity of 6.08%. During the same period in the prior year, the firm earned ($0.28) EPS. As a group, research analysts predict that Dynex Capital will post 1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DX shares. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a report on Wednesday, August 28th. StockNews.com downgraded shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.