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

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Monday, July 14th, Wall Street Journal reports. Shareholders of record on Wednesday, July 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, August 1st. This represents a $2.04 dividend on an annualized basis and a yield of 16.22%. The ex-dividend date of this dividend is Wednesday, July 23rd.

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. Equities 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 Down 0.6%

NYSE:DX traded down $0.07 during trading hours on Thursday, reaching $12.58. The company had a trading volume of 3,196,277 shares, compared to its average volume of 2,740,847. The stock has a 50-day moving average of $12.32 and a two-hundred day moving average of $12.72. Dynex Capital has a one year low of $10.79 and a one year high of $14.52. The firm has a market capitalization of $1.35 billion, a PE ratio of 16.34 and a beta of 0.92.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. Dynex Capital had a return on equity of 1.59% and a net margin of 20.61%. The firm had revenue of $17.13 million for the quarter, compared to analysts' expectations of $11.41 million. As a group, sell-side analysts expect that Dynex Capital will post 1.94 earnings per share for the current year.

Institutional Trading of Dynex Capital

An institutional investor recently raised its position in Dynex Capital stock. AQR Capital Management LLC increased its position in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) by 54.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,183 shares of the real estate investment trust's stock after acquiring an additional 36,455 shares during the quarter. AQR Capital Management LLC owned about 0.10% of Dynex Capital worth $1,343,000 at the end of the most recent quarter. Institutional investors and hedge funds own 38.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Jones Trading lowered their price target on Dynex Capital from $13.25 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 21st. Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on Dynex Capital from $12.50 to $13.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, UBS Group restated a "neutral" rating and set a $12.50 target price (up previously from $11.00) on shares of Dynex Capital in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Dynex Capital currently has a consensus rating of "Hold" and a consensus price target of $12.67.

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.