Dynex Capital, Inc. (NYSE:DX) Declares Monthly Dividend of $0.13

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Friday, July 12th, Wall Street Journal reports. Investors of record on Tuesday, July 23rd will be given a dividend of 0.13 per share by the real estate investment trust on Thursday, August 1st. This represents a $1.56 annualized dividend and a dividend yield of 12.65%. The ex-dividend date is Tuesday, July 23rd.

Dynex Capital has a payout ratio of 247.6% 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 $1.27 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 122.8%.

Dynex Capital Stock Performance

DX stock opened at $12.33 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.01. The firm has a market cap of $791.71 million, a P/E ratio of 10.54 and a beta of 1.34. Dynex Capital has a 12-month low of $9.57 and a 12-month high of $13.56. The stock’s 50 day simple moving average is $12.09 and its 200 day simple moving average is $12.19.

Wall Street Analysts Forecast Growth

DX has been the subject of a number of recent research reports. Jonestrading restated a “buy” rating and set a $14.00 price objective on shares of Dynex Capital in a research note on Monday, April 22nd. JMP Securities restated a “market perform” rating on shares of Dynex Capital in a research note on Thursday, April 18th. Janney Montgomery Scott initiated coverage on Dynex Capital in a research note on Thursday, June 6th. They set a “buy” rating and a $13.50 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on Dynex Capital from $13.50 to $12.25 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. Finally, Compass Point assumed coverage on Dynex Capital in a research note on Friday, April 12th. They set a “buy” rating and a $14.50 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Dynex Capital presently has a consensus rating of “Hold” and an average price target of $13.35.

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.