Dynex Capital, Inc. (NYSE:DX) to Issue Monthly Dividend of $0.15

Dynex Capital, Inc. (NYSE:DX - Get Free Report) declared a monthly dividend on Tuesday, October 22nd, Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.15 per share by the real estate investment trust on Monday, December 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 14.43%. The ex-dividend date of this dividend is Friday, November 22nd. This is an increase from Dynex Capital's previous monthly dividend of $0.13.

Dynex Capital has a payout ratio of 154.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Dynex Capital to earn $1.43 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 109.1%.

Dynex Capital Stock Down 0.6 %

DX stock traded down $0.08 during midday trading on Tuesday, hitting $12.47. The company's stock had a trading volume of 2,326,507 shares, compared to its average volume of 1,483,883. The firm has a 50-day simple moving average of $12.49 and a 200-day simple moving average of $12.20. The firm has a market capitalization of $931.63 million, a P/E ratio of 207.83 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Dynex Capital has a 52-week low of $9.57 and a 52-week high of $13.13.

Dynex Capital (NYSE:DX - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.39). The company had revenue of $83.46 million for the quarter, compared to analyst estimates of $4.92 million. Dynex Capital had a negative return on equity of 6.08% and a net margin of 4.63%. During the same period in the prior year, the firm posted ($0.28) earnings per share. As a group, equities analysts forecast that Dynex Capital will post 1 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Dynex Capital in a research report on Wednesday, August 28th. StockNews.com lowered Dynex Capital from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Dynex Capital presently has a consensus rating of "Hold" and an average target price of $13.35.

About Dynex Capital

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.