Dynex Capital (DX) declares a dividend of $0.13

Dynex Capital said on March 13, 2023 that its board of directors had declared a regular monthly dividend of $0.13 per share ($1.56 annualized). Previously, the company paid $0.13 per share.

Shares must be purchased before the ex-div date of March 20, 2023 to be eligible for the dividend. Shareholders of record as of March 21, 2023 will receive payment on April 3, 2023.

At the current share price of $12.22/share, the dividend yield of the stock is 12.76%. Looking back five years and taking a sample each week, the average dividend yield was 10.72%, the lowest 7.67% and the highest 17.54%. The standard deviation of returns is 1.72 (n=237).

The current dividend yield is 1.19 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.59. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is -0.13%.

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Analyst price forecast suggests 28.91% upside

As of March 14, 2023, the one-year average price target for Dynex Capital was $15.76. The predictions range from a low of $15.15 to a high of $16.80. The average price target represents a 28.91% increase from its last reported closing price of $12.22.

Check out our ranking of companies with the biggest upward price target.

Dynex Capital’s projected annual revenue is $51 million, down 71.05%. Projected annual non-GAAP EPS is $0.88.

What is fund sentiment?

There are 273 funds or institutions reporting positions in Dynex Capital. This is a decrease of 7 owner(s) or 2.50% in the last quarter. Average portfolio weight of all funds dedicated to DX is 0.11%, an increase of 20.03%. The total number of shares held by institutions has increased over the past three months by 20.96% to 26,056,000 shares. DX’s put/call ratio is 0.14, indicating a bullish outlook.

What do major shareholders do?

Balyasny Asset Management holds 2,223,000 shares representing 4.13% ownership of the company. In its previous filing, the company said it held 1,460,000 shares, representing
a raise
of 34.30%. The company

increase

its DX portfolio allocation of 14.06% in the last quarter.

Jpmorgan Chase & holds 1,500,000 shares representing 2.79% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 1,334,000 shares representing 2.48% ownership of the company. In its previous filing, the company said it held 1,280,000 shares, representing
a raise
of 4.00%. The company

increase

its portfolio allocation to DX of 5.04% over the last quarter.

Mirae Asset Global Investments Co. holds 1,093,000 shares representing 2.03% ownership of the company. In its previous filing, the company said it held 1,117,000 shares, which represents
a decrease
of 2.19%. The company

decreases

its DX portfolio allocation of 43.53% in the last quarter.

IWM – iShares Russell 2000 ETF holds 1,061,000 shares representing 1.97% ownership of the company. In its previous filing, the company said it held 906,000 shares, representing
a raise
of 14.61%. The company

increase

its DX portfolio allocation of 15.79% in the last quarter.

General information about Dynex Capital
(This description is provided by the company.)

ynex Capital, Inc. is an internally managed real estate investment trust, or REIT, that invests in mortgage assets on a leveraged basis. The Company invests in agency and non-agency RMBS, CMBS and CMBS IO.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.