Dynex Capital, Inc. (DX) To Go Ex-Dividend on July 23rd

Dynex Capital, Inc. (NYSE:DX) declared a monthly dividend on Monday, July 13th. Stockholders of record on Thursday, July 23rd will be given a dividend of 0.17 per share by the real estate investment trust on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 15.4%. The ex-dividend date of this dividend is Thursday, July 23rd.

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

Dynex Capital Stock Up 2.0%

Shares of NYSE:DX opened at $13.24 on Wednesday. The firm has a 50-day simple moving average of $13.03 and a 200 day simple moving average of $13.45. Dynex Capital has a fifty-two week low of $11.82 and a fifty-two week high of $14.93. The company has a market cap of $2.85 billion, a PE ratio of 7.84 and a beta of 0.95.

Dynex Capital (NYSE:DX) last announced its quarterly earnings results on Monday, April 20th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Dynex Capital had a return on equity of 7.86% and a net margin of 34.75%.The company had revenue of ($59.11) million for the quarter, compared to analyst estimates of $67.37 million.

Institutional Investors Weigh In On Dynex Capital

A number of institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new position in shares of Dynex Capital during the 2nd quarter valued at $899,000. Attessa Capital LLC bought a new position in Dynex Capital during the second quarter valued at about $198,000. Fermata Advisors LLC acquired a new position in Dynex Capital during the second quarter worth about $226,000. Moody National Bank Trust Division grew its holdings in Dynex Capital by 12.1% during the second quarter. Moody National Bank Trust Division now owns 86,160 shares of the real estate investment trust’s stock worth $1,130,000 after acquiring an additional 9,301 shares during the period. Finally, Versant Capital Management Inc raised its position in Dynex Capital by 891.8% in the second quarter. Versant Capital Management Inc now owns 2,896 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 2,604 shares in the last quarter. 38.34% of the stock is currently owned by institutional investors and hedge funds.

About Dynex Capital

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.