Dynex Capital, Inc. (NYSE:DX) Plans Monthly Dividend of $0.15

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 annualized dividend and a 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 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 research 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 Stock Down 0.6 %

Shares of Dynex Capital stock traded down $0.08 on Tuesday, reaching $12.47. 2,326,507 shares of the company were exchanged, compared to its average volume of 1,483,831. Dynex Capital has a one year low of $9.57 and a one year 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 company has a 50-day moving average of $12.48 and a 200 day moving average of $12.20. The company has a market capitalization of $931.63 million, a price-to-earnings ratio of 208.67 and a beta of 1.33.

Dynex Capital (NYSE:DX) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.39). The firm had revenue of $83.46 million during the quarter, compared to the consensus estimate 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 last year, the business earned ($0.28) EPS. On average, equities research analysts forecast that Dynex Capital will post 1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DX. StockNews.com cut Dynex Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.