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

Key Points

• Dynex Capital declared a monthly dividend of $0.17 per share, payable December 1 to shareholders of record November 23. That equates to $2.04 annually and a stated yield of 19.5%.
• The dividend payout ratio is 133.3%, meaning earnings alone currently do not cover the payment and the company is relying on its balance sheet.
• Quarterly EPS of $0.38 and revenue of $101.56 million both fell short of analyst expectations; analysts’ consensus rating was Hold, with a $13.38 average price target.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Tuesday, November 10th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.17 per share by the real estate investment trust on Tuesday, December 1st. This represents a $2.04 annualized dividend and a yield of 19.5%. The ex-dividend date of this dividend is Monday, November 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.

Dynex Capital Price Performance

Shares of NYSE:DX traded down $0.18 during trading hours on Wednesday, hitting $10.45. 549,901 shares of the company's stock traded hands, compared to its average volume of 6,026,102. Dynex Capital has a 1 year low of $10.31 and a 1 year high of $14.93. The business has a fifty day moving average price of $11.39 and a 200-day moving average price of $12.79. The firm has a market capitalization of $2.71 billion, a P/E ratio of 49.79 and a beta of 1.01.

Dynex Capital (NYSE:DX - Get Free Report) last issued its quarterly earnings results on Monday, October 19th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.01). Dynex Capital had a positive return on equity of 10.30% and a negative net margin of 4.65%. The business had revenue of $101.56 million for the quarter, compared to the consensus estimate of $113.48 million.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. JonesTrading decreased their target price on Dynex Capital from $14.75 to $12.50 and set a "buy" rating for the company in a research report on Monday, October 19th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Dynex Capital in a report on Tuesday, October 20th. BTIG Research set a $12.00 target price on shares of Dynex Capital and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings lowered shares of Dynex Capital from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 30th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.38.

Dynex Capital Company Profile

Dynex Capital, Inc. is a mortgage real estate investment trust (REIT) that invests primarily in mortgage-backed securities issued or guaranteed by U.S. government agencies. Its portfolio includes securities backed by residential and commercial mortgages. The company manages its portfolio of mortgage assets and related financing with the goal of generating income for shareholders. Its investments are primarily tied to the U.S. mortgage market. Founded in 1987, Dynex Capital is based in Glen Allen, Virginia.

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