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

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Monday, April 14th, Wall Street Journal reports. Stockholders of record on Wednesday, April 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Thursday, May 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 17.48%. The ex-dividend date is Wednesday, April 23rd.

Dynex Capital has raised its dividend payment by an average of 120.9% per year over the last three years. Dynex Capital has a payout ratio of 125.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of DX traded up $0.08 during mid-day trading on Friday, hitting $11.67. 3,435,712 shares of the stock were exchanged, compared to its average volume of 2,229,841. The company has a market cap of $1.12 billion, a PE ratio of 7.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50-day moving average of $13.23 and a two-hundred day moving average of $12.80. Dynex Capital has a 52-week low of $10.79 and a 52-week high of $14.52.

Dynex Capital (NYSE:DX - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%. On average, equities analysts predict that Dynex Capital will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

DX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Dynex Capital from $13.25 to $12.50 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. StockNews.com raised Dynex Capital from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Dynex Capital presently has an average rating of "Moderate Buy" and an average target price of $13.33.

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.