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

Dynex Capital, Inc. (NYSE:DX) declared 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) dividend on an annualized basis and a dividend yield of 16.3%. The ex-dividend date of this dividend is Monday, September 21st.

Dynex Capital has increased its dividend payment by an average of 0.0%per year 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% 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 Performance

NYSE DX traded down $0.02 during trading hours on Friday, hitting $12.54. 6,901,798 shares of the stock were exchanged, compared to its average volume of 4,358,609. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 4.77 and a beta of 0.96. Dynex Capital has a 12-month low of $11.82 and a 12-month high of $14.93. The stock has a 50-day moving average of $12.96 and a 200 day moving average of $13.09. 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 issued its earnings results on Monday, July 20th. The real estate investment trust reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $302.75 million for the quarter, compared to analyst estimates of $103.62 million. Dynex Capital had a net margin of 49.18% and a return on equity of 8.85%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in 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 valued at $9,742,000 after buying an additional 582,129 shares in the last quarter. BlackRock Inc. increased its position 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 buying an additional 2,355,906 shares in the last quarter. Odyssean LLC raised its holdings in shares of 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 acquiring an additional 140,553 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Dynex Capital by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 783,988 shares of the real estate investment trust’s stock worth $10,278,000 after acquiring an additional 94,948 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Dynex Capital in the second quarter valued at $1,228,000. 38.34% of the stock is owned by hedge funds and other 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.