Dynex Capital Inc (NYSE:DX) declared a monthly dividend on Wednesday, March 13th, Wall Street Journal reports. Stockholders of record on Friday, March 22nd will be paid a dividend of 0.06 per share by the real estate investment trust on Monday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 11.96%. The ex-dividend date is Thursday, March 21st.
Dynex Capital has decreased its dividend by an average of 9.5% annually over the last three years. Dynex Capital has a dividend payout ratio of 101.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Dynex Capital to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.
Shares of Dynex Capital stock opened at $6.02 on Thursday. The company has a market cap of $427.74 million, a PE ratio of 8.25 and a beta of 0.59. Dynex Capital has a 1-year low of $5.57 and a 1-year high of $6.82.
In other Dynex Capital news, CFO Stephen J. Benedetti acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $59,000.00. Following the completion of the acquisition, the chief financial officer now owns 277,387 shares of the company’s stock, valued at approximately $1,636,583.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Byron L. Boston acquired 17,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was acquired at an average price of $5.90 per share, for a total transaction of $100,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 611,545 shares of the company’s stock, valued at approximately $3,608,115.50. The disclosure for this purchase can be found here. Insiders purchased 31,542 shares of company stock worth $186,098 over the last quarter. 3.96% of the stock is currently owned by insiders.
A number of research firms recently commented on DX. Zacks Investment Research cut Dynex Capital from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. TheStreet cut Dynex Capital from a “c” rating to a “d+” rating in a report on Friday, February 8th.
About Dynex Capital
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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