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

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Monday, October 13th. Stockholders of record on Thursday, October 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date of this dividend is Thursday, October 23rd.

Dynex Capital has a dividend payout ratio of 133.3% indicating that 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 Trading Up 1.3%

NYSE DX opened at $13.16 on Tuesday. Dynex Capital has a 1-year low of $10.79 and a 1-year high of $14.52. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.71 billion, a PE ratio of 16.87 and a beta of 0.92. The firm’s fifty day simple moving average is $12.52 and its 200-day simple moving average is $12.35.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.27). Dynex Capital had a return on equity of 4.19% and a net margin of 17.27%.The company had revenue of $23.13 million during the quarter, compared to analyst estimates of $21.20 million. As a group, sell-side analysts anticipate that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on DX. Jones Trading raised their target price on Dynex Capital from $12.50 to $13.00 and gave the company a “buy” rating in a report on Monday, July 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Dynex Capital in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on Dynex Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Finally, UBS Group set a $13.25 target price on Dynex Capital and gave the company a “neutral” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.08.

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.