Dynex Capital, Inc. to Issue Monthly Dividend of $0.13 (NYSE:DX)

Dynex Capital, Inc. (NYSE:DX – Get Rating) announced a monthly dividend on Tuesday, June 14th, Zacks reports. Investors of record on Friday, June 24th will be given a dividend of 0.13 per share by the real estate investment trust on Friday, July 1st. This represents a $1.56 annualized dividend and a yield of 10.35%. The ex-dividend date is Thursday, June 23rd.

Dynex Capital has decreased its dividend payment by an average of 10.3% annually over the last three years. Dynex Capital has a dividend payout ratio of 80.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Dynex Capital to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 91.8%.

Dynex Capital stock opened at $15.07 on Wednesday. The firm has a market cap of $556.99 million, a price-to-earnings ratio of 6.39 and a beta of 1.08. Dynex Capital has a 52 week low of $13.96 and a 52 week high of $19.46. The business’s 50-day moving average price is $15.88 and its 200 day moving average price is $16.13. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.04.

Dynex Capital (NYSE:DX – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Dynex Capital had a net margin of 159.69% and a return on equity of 9.69%. During the same period last year, the business earned $0.46 earnings per share. Equities analysts expect that Dynex Capital will post 1.72 EPS for the current year.

In other news, CEO Byron L. Boston bought 6,562 shares of Dynex Capital stock in a transaction dated Monday, June 13th. The stock was acquired at an average cost of $15.25 per share, with a total value of $100,070.50. Following the acquisition, the chief executive officer now owns 388,134 shares of the company’s stock, valued at $5,919,043.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Byron L. Boston bought 2,000 shares of Dynex Capital stock in a transaction dated Friday, May 13th. The stock was purchased at an average cost of $16.00 per share, with a total value of $32,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 394,951 shares in the company, valued at approximately $6,319,216. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,729 shares of company stock valued at $151,058. Insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Dynex Capital by 1,862.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,688 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 2,551 shares during the period. Legal & General Group Plc increased its position in Dynex Capital by 6.0% during the 4th quarter. Legal & General Group Plc now owns 12,762 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 718 shares during the period. MetLife Investment Management LLC increased its position in Dynex Capital by 54.4% during the 1st quarter. MetLife Investment Management LLC now owns 18,600 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 6,557 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Dynex Capital by 32.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,130 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 4,724 shares during the period. Finally, International Assets Investment Management LLC increased its position in Dynex Capital by 28.3% during the 1st quarter. International Assets Investment Management LLC now owns 19,810 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 4,368 shares during the period. 39.45% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on DX shares. StockNews.com initiated coverage on Dynex Capital in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Keefe, Bruyette & Woods upgraded Dynex Capital from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $17.00 to $18.75 in a research report on Wednesday, June 8th. Finally, Jonestrading reduced their target price on Dynex Capital from $20.00 to $19.00 in a research report on Thursday, April 28th.

Dynex Capital Company Profile (Get Rating)

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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