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DX · Dynex Capital Inc

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$10.91 +0.51 (+4.89%)
Russell 2000 member Rebalance outlook locked
Market Cap
$2.70B
Shares
259.63M
Volume · Nov 4 7.34M Avg daily vol (3M) 6.47M

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$10.91 Open$10.63 Day$10.60–11.00 52W close$10.40–14.74 Avg vol 30d7.7M Short int17.1M · 6.6% of shares · 2.1d Short vol51% Last earningsOct 19, 2026 DataJan 2020–Nov 2026 Filing10-Q · Oct 27

Up next

Next earnings call
Jan 18, 2027 Est · unconfirmed · in 11 wks
Q3 2026 earnings call transcript
call held Oct 19, 2026
Play latest call

Latest documents

2026
Oct 27
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Quarterly report for FY2026 Q3

Dynex Capital Inc posted a (11.5)% third-quarter 2026 economic return and $10.91 book value per common share as Agency MBS spreads widened. It grew its capital base by $384 million through equity raises and added $3.2 billion of Agency MBS.

Net loss $335.54M Diluted EPS -$1.34
Read from the MD&A section
Oct 19
Earnings call
Q3 2026 earnings call

Dynex Capital reported Q3 2026 book value per share of $10.91, down 15.4% from June 30, for a total economic return of negative 11.4%. The company raised $384 million of accretive capital and sees prospective ROEs of 20% to 25% on new investments at wider spreads.

Oct 19
Current report 8-K
Financial results

Dynex Capital reported a Q3 2026 net loss of $(1.34) per common share and a comprehensive loss of $(1.49), as book value fell to $10.91 from $12.90 driven by wider Agency MBS spreads. The company raised $384 million and grew its investment portfolio 3% to $28.3 billion.

Sep 25
Current report 8-K Events of Sep 22
Entered into a material agreement, Regulation FD disclosure

Dynex Capital, Inc. priced an underwritten public offering of 4,800,000 shares of 9.375% Series D Fixed-Rate Cumulative Redeemable Preferred Stock with a $25.00 liquidation preference. Expected net proceeds are approximately $116,220,000, and closing is expected on or about September 29, 2026.

Read from the first part of this long document
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$1.07B
Trailing 12 months
Net income (TTM)
−$49.74M
Trailing 12 months
Revenue growth YoY
+122.1%
Year over year
Operating margin
—
Trailing 12 months
P / E (TTM)
16.3
Trailing earnings · reciprocal yield 6.2%
FCF yield
—
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
—
Latest balance sheet
Dividend yield
19.6%
Trailing 12 months
Shares change YoY
+83.9%
Year over year · more shares
Price change (1Y)
-21.7%
Trailing year
Short interest
6.6%
Latest settlement · 2.1 days to cover
View all 126 metrics

AI Brief

Q3 FY26 earnings call · Oct 19, 2026
Q3 FY26

TL;DR. Dynex reported a sharply lower Q3 2026 book value of $10.91 (down 15.4% QoQ, total economic return -11.5%) driven by wider Agency MBS spreads as Treasury yields rose above 5%. Management emphasized a 'compelling forward investment opportunity,' citing stable mortgage convexity, durable financing, $384M of accretive capital raised (including a new Series D preferred), and modeled forward ROEs in the 20-25% range.

Bullish
  • + Management raised $384M of accretive capital in Q3, including a new Series D preferred and ATM common equity
  • + Liquidity remained robust at $1.3B of cash and unencumbered securities (42% of total equity) and repo financing stayed deep across 25+ counterparties
  • + Management framed the wider spread environment as a compelling forward opportunity with modeled static ROEs around 20% in lower coupons and 25% in current coupons
  • + Mortgage convexity and duration have improved dramatically, materially reducing modeled book value sensitivity to further rate rises
  • + Operating leverage continued to improve, with G&A approximately 40% lower than the same period in 2025 at a 2% run rate of total equity
Bearish
  • − Book value per common share fell 15.4% QoQ to $10.91, with total economic return of -11.5%
  • − Comprehensive loss was $1.49 per common share and net loss was $1.34 per common share in Q3
  • − Unrealized losses on MBS expanded sharply, driving a $(1,502,120) thousand fair-value decline in the investment portfolio
  • − Mortgage spreads widened nearly 20 bps, 10-year Treasury rose over 80 bps above 5%, and current coupon mortgage yields jumped ~100 bps, pressuring book value
  • − Leverage increased to 9.0x shareholders' equity from 8.1x, driven by the book value decline

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical Sell Momentum Weak Sentiment Bullish Fundamentals Excellent Quant / Vol Low
Market backdrop VIX 20.8 · elevated Equity put/call 0.60
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −15%
below
Price vs 50-day avg −6%
below
RSI (14) 47
neutral
MACD trend Positive
52-week position 12%
near low
Momentum
relative strength
Weak
1-month return +3%
trailing
6-month return −17%
trailing
YTD return −22%
this year
Relative strength −19%
vs S&P · 6-mo
Sentiment
smart money
Bullish
Trend (MA cross) No cross
50d $12 › 200d $13 — 200d above 50d
Institutional flow Distributing
92 of 292 funds reported for Sep 30 · net -120.8K sh shares · +16 new
Insider flow Accumulating
Net +$244.8K over 90 days · 0% sells
Short interest Falling
6.59% of shares out · ▼ -2.4% MoM · 2.1 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
292 holders — near 3-yr high, broad support
Squeeze score 61
elevated · 0–100
Fundamentals
Excellent
EPS growth +66%
Y/Y
Buyback $150.0M
authorized
Balance sheet $67.7M
net cash
Quant / Vol
risk profile
Low
Volatility 20%
annualized · 1-yr
Max drawdown −29%
past year
ATR 2.9%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Latest guidance · from the Earnings Call filed Jul 20, 2026
Expense ratio as a percentage of total equity · this year 2%

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell
3 · 2 · 1
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−15% Bearish
Price vs 50-day avg
−6% Bearish
RSI (14)
47 Neutral
MACD trend
Positive Bullish
52-week position
12% Bearish
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross) No cross
50d $12 › 200d $13 — 200d above 50d
Institutional flow Distributing
92 of 292 funds reported for Sep 30 · net -120.8K sh shares · +16 new
Insider flow Accumulating
Net +$244.8K over 90 days · 0% sells
Short interest Falling
6.59% of shares out · ▼ -2.4% MoM · 2.1 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
292 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $10 Now $11 · 12% Range high $15
vs 200-day avg -15% vs 50-day avg -6%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Agency CMBS portfolio 1.4B September 30, 2026 —
Agency CMBS represents % of total portfolio 5% September 30, 2026 —
Agency RMBS portfolio, including TBAs 26.8B September 30, 2026 —
Agency RMBS represents % of total portfolio 95% September 30, 2026 —
Average balance of interest-earning assets growth 10% Third Quarter 2026 —
Book value per common share $10.91 September 30, 2026 —
Capital raised through the issuance of 9.375% Series D fixed-rate cumulative redeemable preferre 116M Third Quarter 2026 —
Capital raised, net of commissions 384M Third Quarter 2026 —
Common equity raised through the Company's at-the-market ("ATM") program 268M Third Quarter 2026 —
Dividends declared $0.51 Third Quarter 2026 —
GAAP → non-GAAP reconciliation
GAAP Net interest income (GAAP) $101.56M
+$82K Net periodic interest from interest rate swaps
= Economic net interest income $101.64M
Investment portfolio in highly liquid Agency securities 99.99% September 30, 2026 —
Liquidity 1.3B September 30, 2026 —
Liquidity representing total equity 42% September 30, 2026 —
MBS purchases 3.2B Third Quarter 2026 —
Net interest income/net interest spread 1.18% Third Quarter 2026 —
Total economic return -$1.48 Third Quarter 2026 —
Total investment portfolio 28.3B Third Quarter 2026 —
Annualized general and administrative expenses as a percentage of total equity 1.9% the three months ended June 30, 2026 filing —
EAD per common share non-GAAP $0.36 Three Months Ended June 30, 2026 filing —
Earnings available for distribution (EAD) to common shareholders non-GAAP $80.68M Three Months Ended June 30, 2026 filing —
Economic net interest spread non-GAAP 1.17% the three months ended June 30, 2026 filing —
Net proceeds from ATM issuances $391M the three months ended June 30, 2026 filing —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

REIT - Mortgage — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
DX
Dynex Capital Inc
this stock
$2.70B -22.1% — — 6.6%
NLY
Annaly Capital Management Inc
 $14.36B -15.3% — 12.8 3.3%
AGNC
AGNC Investment Corp.
 $11.30B -17.3% — — 0.0%
RITM
Rithm Capital Corp.
 $5.33B -12.8% -6.7% 15.2 5.9%
STWD
Starwood Property Trust, Inc.
 $4.77B -28.1% -5.3% — 6.0%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Reducing
Holders
300
% held
43.5%
Reported
92 of 292
Top holder
BlackRock, Inc.
Held Float
View
Held by Funds
Fund positions
169
View
Short & Settlement
Short Interest Falling
Shares short
17.1M
Days to cover
2.1d
Change
-420.9K sh
View
Short Volume
Short vol %
51%
As of
Nov 4, 2026
Short Total
View
Fails to Deliver
FTD shares
70.6K
Value
$800.9K
As of
Sep 28, 2026
View
Off-Exchange
Off-exchange %
46.2%
Week of
Sep 28, 2026
Off-exch Lit
View
Smart Money
Insider Trades Cluster buy
Net (90d)
+$244.8K
Buyers / Sellers
4 / 0
Buyers Sellers
View
Financials
Financials
Net income (FY)
$319.1M
EPS diluted
$2.47
View
Buybacks
Authorized · 2 programs
$150.0M
View
Filings
SEC Filings
Latest
10-Q
Filed
Oct 27, 2026
This year
22

Dynex Capital Inc posted a (11.5)% third-quarter 2026 economic return and $10.91 book value per common share as Agency MBS spreads widened. It grew its capital base by $384 million through equity raises and added $3.2 billion of Agency MBS.

View
Proposed Sales
Value
$215.8K
Shares
17.1K
Filed
Aug 29, 2024
View
Earnings & Events
Webcasts
Last webcast
Oct 19, 2026
View
Investor Relations
Latest news
DYNEX CAPITAL, INC. ANNOUNCES THI…
Published
Oct 19, 2026
View

Performance

5D 20D 120D MTD YTD
DX +0.7% +3.2% -16.8% +2.4% -22.1%
SPY -0.7% -1.3% +2.5% +1.5% +12.5%
vs SPY +1.5% +4.6% -19.3% +1.0% -34.6%

Capital returns

Latest dividend
$0.17 / share · ex Oct 22, 2026
Raised 13.3%
Paid (TTM)
$2.04 / share · 12 payouts
Dividend yield (TTM, derived)
18.70%
Full dividend history
Buyback programs · 2 active · as of Apr 18, 2024
Authorized (total)
$150.00M
Spent (derived)
—
Remaining
—

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 826675 CUSIP 26817Q886 13F (30d) 85 filings 83 filers Visit website Investor relations