Dynex Capital, Inc. (DX) to Distribute Monthly Dividend of $0.17 on October 1st

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Friday, September 11th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.17 per share by the real estate investment trust on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date of this dividend is Monday, September 21st.

Dynex Capital has raised its dividend payment by an average of 0.0%annually over the last three years and has raised 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 Price Performance

Dynex Capital stock opened at $12.54 on Friday. The company’s 50 day moving average price is $12.96 and its two-hundred day moving average price is $13.09. The stock has a market cap of $3.10 billion, a P/E ratio of 4.77 and a beta of 0.96. Dynex Capital has a 52 week low of $11.82 and a 52 week high of $14.93. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Dynex Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Dynex Capital by 321.0% in the 1st quarter. Bank of America Corp DE now owns 763,452 shares of the real estate investment trust’s stock worth $9,742,000 after acquiring an additional 582,129 shares in the last quarter. BlackRock Inc. boosted its stake in Dynex Capital by 14.6% during the second quarter. BlackRock Inc. now owns 18,437,985 shares of the real estate investment trust’s stock worth $241,722,000 after acquiring an additional 2,355,906 shares in the last quarter. Odyssean LLC grew its holdings in Dynex Capital by 328.6% in the second quarter. Odyssean LLC now owns 183,328 shares of the real estate investment trust’s stock worth $2,403,000 after purchasing an additional 140,553 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Dynex Capital by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 783,988 shares of the real estate investment trust’s stock valued at $10,278,000 after purchasing an additional 94,948 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Dynex Capital during the second quarter valued at approximately $1,228,000. 38.34% of the stock is currently owned by institutional investors.

About Dynex Capital

Dynex Capital, Inc is a mortgage real estate investment trust (REIT) that invests primarily in residential and commercial mortgage-backed securities. Its portfolio generally focuses on agency securities, which are issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae, Freddie Mac and Ginnie Mae.

The company finances its investments through repurchase agreements and other forms of secured borrowing and uses hedging strategies to manage interest-rate and financing risks.