Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Thursday, January 13th, Zacks reports. Stockholders of record on Monday, January 24th will be paid a dividend of 0.13 per share by the real estate investment trust on Tuesday, February 1st. This represents a $1.56 annualized dividend and a dividend yield of 9.22%. The ex-dividend date of this dividend is Friday, January 21st.
Dynex Capital has decreased its dividend by 27.9% over the last three years and has raised its dividend every year for the last 1 years. Dynex Capital has a payout ratio of 108.3% 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 $1.93 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 80.8%.
Shares of NYSE DX opened at $16.92 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $17.50. The company has a market cap of $620.46 million, a PE ratio of 3.58 and a beta of 1.19. Dynex Capital has a 12-month low of $15.32 and a 12-month high of $20.51.
Several hedge funds and other institutional investors have recently bought and sold shares of DX. American International Group Inc. increased its holdings in shares of Dynex Capital by 9.4% in the third quarter. American International Group Inc. now owns 18,642 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 1,605 shares in the last quarter. UBS Group AG increased its holdings in shares of Dynex Capital by 27.8% in the third quarter. UBS Group AG now owns 41,558 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 9,040 shares in the last quarter. Invesco Ltd. raised its stake in Dynex Capital by 7.3% during the 3rd quarter. Invesco Ltd. now owns 79,684 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 5,399 shares during the period. Millennium Management LLC acquired a new stake in Dynex Capital during the 3rd quarter valued at $1,588,000. Finally, Bank of New York Mellon Corp raised its stake in Dynex Capital by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 112,736 shares of the real estate investment trust’s stock valued at $1,949,000 after purchasing an additional 12,406 shares during the period. 39.88% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on DX. Zacks Investment Research downgraded Dynex Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, December 28th. JMP Securities restated a “hold” rating on shares of Dynex Capital in a research report on Wednesday, December 15th.
About Dynex Capital
Dynex Capital, Inc is an internally managed mortgage real estate investment trust, which invests in residential and commercial mortgage-backed securities on a leveraged basis. It primarily invests in Agency and non-Agency mortgage-backed securities (MBS) consisting of residential MBS (RMBS), commercial MBS (CMBS), and CMBS interest-only (IO) securities.
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