Dynex Capital, Inc. (NYSE:DX) Declares Dividend Increase - $0.17 Per Share

Dynex Capital, Inc. (NYSE:DX - Get Free Report) announced a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 24th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 14.50%. The ex-dividend date is Monday, March 24th. This is an increase from Dynex Capital's previous monthly dividend of $0.15.

Dynex Capital has increased its dividend payment by an average of 120.9% per year over the last three years. Dynex Capital has a dividend payout ratio of 121.6% indicating that 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 should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 91.4%.

Dynex Capital Trading Up 1.4 %

Shares of DX traded up $0.20 during mid-day trading on Friday, reaching $14.07. The company had a trading volume of 5,560,568 shares, compared to its average volume of 2,511,471. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.57 and a beta of 1.31. The firm has a fifty day simple moving average of $12.90 and a 200-day simple moving average of $12.61. Dynex Capital has a fifty-two week low of $11.36 and a fifty-two week high of $14.21. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.01.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.28). Dynex Capital had a net margin of 35.65% and a negative return on equity of 2.24%. On average, sell-side analysts anticipate that Dynex Capital will post 1.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DX has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Dynex Capital from a "sell" rating to a "hold" rating in a report on Friday, January 31st. JMP Securities reiterated a "market perform" rating on shares of Dynex Capital in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Dynex Capital has an average rating of "Moderate Buy" and an average price target of $13.56.

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.