Dynex Capital, Inc. (DX) To Go Ex-Dividend on August 21st

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Tuesday, August 11th. Stockholders of record on Friday, August 21st will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date is Friday, August 21st.

Dynex Capital has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Dynex Capital has a dividend payout ratio of 133.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Dynex Capital Trading Up 0.9%

NYSE:DX opened at $13.19 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a 50-day moving average of $13.00 and a 200-day moving average of $13.22. The company has a market cap of $3.26 billion, a PE ratio of 5.01 and a beta of 0.96. Dynex Capital has a one year low of $11.82 and a one year high of $14.93.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, July 20th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $302.75 million for the quarter, compared to analysts’ expectations of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Analysts Set New Price Targets

Several brokerages have recently commented on DX. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Dynex Capital in a research note on Tuesday, July 21st. BTIG Research set a $14.50 target price on Dynex Capital in a research report on Wednesday, June 17th. JonesTrading reiterated a “buy” rating and set a $14.75 price target on shares of Dynex Capital in a report on Tuesday, July 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Dynex Capital in a research report on Wednesday, June 24th. Finally, UBS Group restated a “neutral” rating and set a $14.50 price objective (up from $14.00) on shares of Dynex Capital in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.56.

Dynex Capital Company Profile

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that specializes in acquiring and managing mortgage-related assets. The company’s primary business involves investing in residential mortgage-backed securities (RMBS), including agency-backed pools issued or guaranteed by government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae, as well as selected non-agency RMBS. Dynex Capital seeks to generate net interest income by earning interest on its portfolio while employing leverage through secured repurchase agreements and other debt facilities.

In pursuing its investment objectives, Dynex Capital manages portfolio duration and interest rate exposures, with a focus on preserving capital and optimizing yield over the economic cycle.