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

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Thursday, June 12th, Wall Street Journal reports. Stockholders of record on Monday, June 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 16.74%. The ex-dividend date is Monday, June 23rd.

Dynex Capital has a payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Dynex Capital to earn $1.97 per share next year, which means the company may not be able to cover its $2.04 annual dividend with an expected future payout ratio of 103.6%.

Dynex Capital Price Performance

NYSE:DX opened at $12.19 on Friday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 15.82 and a beta of 0.93. Dynex Capital has a one year low of $10.79 and a one year high of $14.52. The business has a fifty day moving average price of $12.14 and a 200-day moving average price of $12.73.

Dynex Capital (NYSE:DX) last posted its quarterly earnings data on Monday, April 21st. The real estate investment trust reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $17.13 million during the quarter, compared to analyst estimates of $11.41 million. Dynex Capital had a return on equity of 1.59% and a net margin of 20.61%. On average, equities research analysts expect that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dynex Capital stock. Goldman Sachs Group Inc. increased its position in Dynex Capital, Inc. (NYSE:DX) by 86.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 804,419 shares of the real estate investment trust’s stock after buying an additional 373,610 shares during the period. Goldman Sachs Group Inc. owned about 0.75% of Dynex Capital worth $10,474,000 at the end of the most recent quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DX shares. Wall Street Zen lowered Dynex Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 24th. Jones Trading reduced their price objective on Dynex Capital from $13.25 to $12.50 and set a “buy” rating for the company in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on Dynex Capital from $13.25 to $12.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th.

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.