Dynex Capital, Inc. (NYSE:DX) Plans $0.17 Aug 25 Dividend

Key Points

• Dynex Capital, Inc. has declared a dividend of $0.17 per share to be paid on September 2nd for shareholders of record on August 22nd.
• The company has a dividend payout ratio of 133.3%, indicating that it is currently relying on its balance sheet rather than earnings to cover dividends, and future estimates suggest it may struggle to maintain this payout level.
• Analysts have mixed views on Dynex Capital's stock, with recommendations ranging from "buy" to "sell," and an average price target of $12.83.

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a aug 25 dividend on Monday, August 11th, RTT News reports. Shareholders of record on Friday, August 22nd will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, September 2nd. This represents a yield of 1,650.0%. The ex-dividend date is Friday, August 22nd.

Dynex Capital has a payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 traded down $0.06 during trading hours on Thursday, hitting $12.58. 2,821,692 shares of the company were exchanged, compared to its average volume of 3,960,611. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 16.12 and a beta of 0.91. Dynex Capital has a 52-week low of $10.79 and a 52-week high of $14.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.30 and a quick ratio of 1.30. The company's 50 day moving average price is $12.46 and its 200-day moving average price is $12.72.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.27). The business had revenue of $23.13 million during the quarter, compared to analysts' expectations of $21.20 million. Dynex Capital had a net margin of 17.27% and a return on equity of 4.19%. As a group, research analysts forecast that Dynex Capital will post 1.94 earnings per share for the current year.

Institutional Trading of Dynex Capital

Hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Dynex Capital by 838.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,488 shares of the real estate investment trust's stock worth $31,000 after buying an additional 2,223 shares in the last quarter. Amalgamated Bank boosted its holdings in Dynex Capital by 50.5% during the first quarter. Amalgamated Bank now owns 2,900 shares of the real estate investment trust's stock worth $38,000 after buying an additional 973 shares in the last quarter. CWM LLC boosted its holdings in Dynex Capital by 271.9% during the first quarter. CWM LLC now owns 3,154 shares of the real estate investment trust's stock worth $41,000 after buying an additional 2,306 shares in the last quarter. Transce3nd LLC purchased a new stake in Dynex Capital during the second quarter worth $49,000. Finally, US Bancorp DE boosted its holdings in Dynex Capital by 35.2% during the first quarter. US Bancorp DE now owns 5,134 shares of the real estate investment trust's stock worth $67,000 after buying an additional 1,338 shares in the last quarter. 38.34% of the stock is owned by hedge funds and other institutional investors.

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.