Dynex Capital Inc (NYSE:DX) announced a monthly dividend on Friday, May 17th, Wall Street Journal reports. Investors of record on Tuesday, May 28th will be paid a dividend of 0.06 per share by the real estate investment trust on Friday, June 7th. This represents a $0.72 annualized dividend and a yield of 12.41%. The ex-dividend date of this dividend is Friday, May 24th.
Dynex Capital has decreased its dividend payment by an average of 9.5% per year over the last three years. Dynex Capital has a payout ratio of 304.2% indicating that 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 $0.68 per share next year, which means the company may not be able to cover its $2.16 annual dividend with an expected future payout ratio of 317.6%.
DX stock traded up $0.06 during trading on Friday, hitting $5.80. 869,600 shares of the stock traded hands, compared to its average volume of 788,613. Dynex Capital has a 1 year low of $5.41 and a 1 year high of $6.82. The company has a market capitalization of $429.63 million, a price-to-earnings ratio of 7.95 and a beta of 0.64.
Shares of Dynex Capital are scheduled to reverse split on the morning of Friday, June 21st. The 1-3 reverse split was announced on Thursday, June 6th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 20th.
Dynex Capital (NYSE:DX) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Dynex Capital had a negative net margin of 71.70% and a positive return on equity of 13.53%. The business had revenue of $13.68 million for the quarter. As a group, analysts anticipate that Dynex Capital will post 0.68 EPS for the current year.
Several brokerages have recently weighed in on DX. Zacks Investment Research upgraded shares of Dynex Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Nomura assumed coverage on shares of Dynex Capital in a research note on Wednesday, March 27th. They set a “buy” rating and a $7.00 target price on the stock. ValuEngine cut shares of Dynex Capital from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Finally, LADENBURG THALM/SH SH cut shares of Dynex Capital from a “buy” rating to a “neutral” rating and set a $6.07 target price on the stock. in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Dynex Capital currently has an average rating of “Hold” and an average target price of $6.71.
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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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