Dynex Capital, Inc. Plans Monthly Dividend of $0.13 (NYSE:DX)

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Friday, July 12th, Wall Street Journal reports. Stockholders of record on Tuesday, July 23rd will be paid a dividend of 0.13 per share by the real estate investment trust on Thursday, August 1st. This represents a $1.56 annualized dividend and a dividend yield of 12.65%. The ex-dividend date is Tuesday, July 23rd.

Dynex Capital has a dividend payout ratio of 247.6% indicating that 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 $1.27 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 122.8%.

Dynex Capital Trading Down 1.2 %

Shares of DX opened at $12.33 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.01. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.56. The firm has a market capitalization of $791.71 million, a PE ratio of 10.54 and a beta of 1.34. The stock’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $12.19.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DX shares. JMP Securities reaffirmed a “market perform” rating on shares of Dynex Capital in a research note on Thursday, April 18th. Keefe, Bruyette & Woods dropped their price objective on Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. Compass Point assumed coverage on Dynex Capital in a report on Friday, April 12th. They issued a “buy” rating and a $14.50 price objective for the company. Jonestrading reiterated a “buy” rating and issued a $14.00 price objective on shares of Dynex Capital in a report on Monday, April 22nd. Finally, Janney Montgomery Scott assumed coverage on Dynex Capital in a report on Thursday, June 6th. They issued a “buy” rating and a $13.50 price objective for the company. One 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.35.

Dynex Capital Company Profile

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.