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

Dynex Capital, Inc. (NYSE:DX - Get Free Report) declared a monthly dividend on Thursday, June 12th, Wall Street Journal reports. Shareholders of record on Monday, June 23rd will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 16.58%. The ex-dividend date is Monday, June 23rd.

Dynex Capital has a dividend 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 Down 0.8%

Shares of NYSE:DX traded down $0.10 during trading on Friday, reaching $12.31. 2,734,520 shares of the stock were exchanged, compared to its average volume of 2,533,442. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.20 and a quick ratio of 1.20. Dynex Capital has a 1-year low of $10.79 and a 1-year high of $14.52. The stock has a fifty day moving average of $12.08 and a two-hundred day moving average of $12.75. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 8.37 and a beta of 0.93.

Dynex Capital (NYSE:DX - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The real estate investment trust reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. The business had revenue of $17.13 million during the quarter, compared to analyst estimates of $11.41 million. Dynex Capital had a negative return on equity of 2.24% and a net margin of 35.65%. Research analysts anticipate that Dynex Capital will post 1.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DX shares. Keefe, Bruyette & Woods cut their price target on Dynex Capital from $13.25 to $12.50 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. 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 report on Monday, April 21st. Finally, Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a report on Thursday, April 24th.

Hedge Funds Weigh In On Dynex Capital

An institutional investor recently raised its position in Dynex Capital stock. AQR Capital Management LLC raised its holdings in Dynex Capital, Inc. (NYSE:DX - Free Report) by 54.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,183 shares of the real estate investment trust's stock after buying 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. Hedge funds and other institutional investors own 38.34% of the company's stock.

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.