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

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Thursday, June 12th, Wall Street Journal reports. Investors 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 of this dividend is Monday, June 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. 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 0.8%

Dynex Capital stock traded down $0.10 during mid-day trading on Friday, hitting $12.31. 2,734,520 shares of the company's stock were exchanged, compared to its average volume of 2,530,768. The company's 50 day simple moving average is $12.07 and its 200-day simple moving average is $12.75. The firm has a market capitalization of $1.32 billion, a P/E ratio of 8.37 and a beta of 0.93. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.01. Dynex Capital has a fifty-two week low of $10.79 and a fifty-two week high of $14.52.

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

Hedge Funds Weigh In On Dynex Capital

An institutional investor recently raised its position in Dynex Capital stock. Goldman Sachs Group Inc. grew its stake in Dynex Capital, Inc. (NYSE:DX - Free Report) by 86.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,419 shares of the real estate investment trust's stock after acquiring an additional 373,610 shares during the period. Goldman Sachs Group Inc. owned 0.75% of Dynex Capital worth $10,474,000 at the end of the most recent quarter. Institutional investors and hedge funds own 38.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen cut Dynex Capital from a "hold" rating to a "sell" rating in a report on Thursday, April 24th. Jones Trading lowered their target price on Dynex Capital from $13.25 to $12.50 and set a "buy" rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Dynex Capital from $13.25 to $12.50 and set an "outperform" rating for the company in a report on Tuesday, April 8th.

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.