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

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Monday, July 14th, Wall Street Journal reports. Investors of record on Wednesday, July 23rd will be given 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 16.18%. The ex-dividend date of this dividend is Wednesday, July 23rd.

Dynex Capital has a 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. Equities 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 Trading Down 1.1%

Shares of NYSE DX traded down $0.14 during midday trading on Monday, reaching $12.61. The company had a trading volume of 3,549,546 shares, compared to its average volume of 2,719,272. The stock has a market cap of $1.35 billion, a P/E ratio of 16.37 and a beta of 0.92. Dynex Capital has a 1 year low of $10.79 and a 1 year high of $14.52. The business's 50-day simple moving average is $12.29 and its 200 day simple moving average is $12.72.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on DX. Wall Street Zen downgraded shares of Dynex Capital from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. UBS Group reiterated a "neutral" rating and set a $12.50 price target (up from $11.00) on shares of Dynex Capital in a research report on Thursday. Jones Trading dropped their price target on shares of Dynex Capital from $13.25 to $12.50 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Dynex Capital from $12.50 to $13.00 and gave the company an "outperform" rating in a report on Thursday. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.67.

Institutional Investors Weigh In On Dynex Capital

A hedge fund recently raised its stake in Dynex Capital stock. Goldman Sachs Group Inc. grew its holdings in shares of Dynex Capital, Inc. (NYSE:DX - Free Report) by 86.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 804,419 shares of the real estate investment trust's stock after purchasing an additional 373,610 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.75% of Dynex Capital worth $10,474,000 at the end of the most recent quarter. 38.34% of the stock is owned by institutional investors and hedge funds.

About Dynex Capital

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.

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