Dynex Capital, Inc. (NYSE:DX) to Issue Dividend Increase – $0.17 Per Share

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Monday, March 24th will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.51%. The ex-dividend date is Monday, March 24th. This is a 13.3% increase from Dynex Capital’s previous monthly dividend of $0.15.

Dynex Capital has increased its dividend by an average of 120.9% annually over the last three years. Dynex Capital has a payout ratio of 137.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

NYSE:DX opened at $14.06 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. Dynex Capital has a fifty-two week low of $11.36 and a fifty-two week high of $14.52. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 9.56 and a beta of 1.35. The stock has a fifty day moving average price of $13.50 and a 200-day moving average price of $12.85.

Dynex Capital (NYSE:DX) last posted its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. As a group, equities analysts anticipate that Dynex Capital will post 1.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DX shares. StockNews.com upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.56.

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.