Dynex Capital Inc (NYSE:DX) announced a monthly dividend on Wednesday, September 11th, Zacks reports. Investors of record on Monday, September 23rd will be paid a dividend of 0.15 per share by the real estate investment trust on Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.04%. The ex-dividend date of this dividend is Friday, September 20th.
Dynex Capital has decreased its dividend by an average of 9.5% per year over the last three years. Dynex Capital has a payout ratio of 253.5% 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 research analysts expect Dynex Capital to earn $1.84 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 97.8%.
NYSE DX opened at $14.95 on Wednesday. Dynex Capital has a 1 year low of $13.84 and a 1 year high of $19.32. The stock has a market capitalization of $376.49 million, a PE ratio of 6.83 and a beta of 0.64. The company’s 50 day simple moving average is $15.09 and its two-hundred day simple moving average is $10.30.
Dynex Capital (NYSE:DX) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). Dynex Capital had a positive return on equity of 12.74% and a negative net margin of 157.13%. The firm had revenue of $12.94 million during the quarter. On average, analysts forecast that Dynex Capital will post 1.85 EPS for the current fiscal year.
In related news, CFO Stephen J. Benedetti acquired 4,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $14.68 per share, for a total transaction of $58,720.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.36% of the company’s stock.
Several analysts have issued reports on DX shares. ValuEngine upgraded shares of Dynex Capital from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $19.82.
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.
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