Dynex Capital, Inc. (NYSE:DX) Announces $0.17 Monthly Dividend

Dynex Capital, Inc. (NYSE:DX) announced a monthly dividend on Monday, May 11th. Investors of record on Thursday, May 21st will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 15.3%. The ex-dividend date is Thursday, May 21st.

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% 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 Down 0.3%

Shares of Dynex Capital stock opened at $13.37 on Tuesday. The business’s fifty day simple moving average is $13.23 and its 200 day simple moving average is $13.65. The firm has a market capitalization of $2.88 billion, a P/E ratio of 7.91 and a beta of 0.97. Dynex Capital has a 12 month low of $11.70 and a 12 month high of $14.93.

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

Hedge Funds Weigh In On Dynex Capital

Several hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its position in shares of Dynex Capital by 93.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,638 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 3,205 shares in the last quarter. Swiss National Bank grew its position in shares of Dynex Capital by 13.4% in the first quarter. Swiss National Bank now owns 290,533 shares of the real estate investment trust’s stock valued at $3,707,000 after purchasing an additional 34,400 shares in the last quarter. Morling Financial Advisors LLC purchased a new position in shares of Dynex Capital in the first quarter valued at $1,071,000. Independent Financial Group LLC purchased a new position in shares of Dynex Capital in the first quarter valued at $300,000. Finally, Bank of New York Mellon Corp grew its position in Dynex Capital by 25.3% during the first quarter. Bank of New York Mellon Corp now owns 689,040 shares of the real estate investment trust’s stock worth $8,792,000 after buying an additional 139,083 shares in the last quarter. 38.34% of the stock is currently owned by hedge funds and other institutional investors.

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.