Dynex Capital/$DX
1D1W1MYTD1Y5YMAX
Capital at risk
About Dynex Capital
Dynex Capital Inc is a real estate investment trust (REIT) focused on delivering dividends supported by long term returns from investments in mortgage assets backed by U.S. housing and commercial real estate. The Company is internally managed and mainly invests in residential and commercial mortgage-backed securities (RMBS and CMBS), which are Agency securities guaranteed by U.S. government-sponsored enterprises (GSEs). It manages interest rate, prepayment, spread, liquidity, and counterparty risks and operates through one reportable segment investing in MBS funded with repurchase agreements and equity.
- Ticker
- $DX
- Sector
- Real Estate
- Primary listing
- NYSE
- Employees
- 28
- Headquarters
- Glen Allen, United States
- Website
- www.dynexcapital.com
Dynex Capital Metrics
BasicAdvanced
$3B
5.15
$2.36
0.94
$2.04
16.78%
Price and volume
Market cap
$3B
Beta
0.94
52-week high
$14.93
52-week low
$11.83
Average daily volume
4.9M
Dividend rate
$2.04
Financial strength
Current ratio
0.059
Quick ratio
0.034
Total debt to equity
7.135
Dividend payout ratio (TTM)
83.53%
Profitability
Gross margin (TTM)
100.00%
Net profit margin (TTM)
86.84%
Operating margin (TTM)
86.84%
Revenue per employee (TTM)
$17,940,000
Management effectiveness
Return on assets (TTM)
2.31%
Return on equity (TTM)
18.23%
Valuation
Price to earnings (TTM)
5.149
Price to revenue (TTM)
4.328
Price to book
0.94
Price to tangible book (TTM)
0.94
Price to free cash flow (TTM)
9.19
Free cash flow yield (TTM)
10.88%
Free cash flow per share (TTM)
1.323
Dividend yield (TTM)
16.78%
Forward dividend yield
16.78%
Growth
Revenue change (TTM)
366.09%
Earnings per share change (TTM)
276.19%
3-year revenue growth (CAGR)
125.89%
10-year revenue growth (CAGR)
36.84%
3-year earnings per share growth (CAGR)
326.52%
10-year earnings per share growth (CAGR)
-3.16%
3-year dividend per share growth (CAGR)
9.35%
10-year dividend per share growth (CAGR)
-2.76%
Bulls say / Bears say
Dynex delivered a 6.4% total economic return in the second quarter, while book value rose 2.4% to $12.90 per share. This shows that its hedging and portfolio management can recover value after a difficult period. (Dynex Capital)
The portfolio is almost entirely made up of liquid Agency securities, backed by US government-sponsored enterprises, and liquidity reached $1.6 billion, or 51% of equity. That gives Dynex more protection and flexibility than a mortgage REIT focused on credit-sensitive assets. (Dynex Capital, Dynex Capital)
Management maintained the $0.17 monthly common dividend in September, while second-quarter net interest income rose to $0.42 per share from $0.40. The company also raised $391 million and deployed it into Agency MBS, giving the income strategy room to grow if funding costs and mortgage spreads remain favourable. (Dynex Capital, Exa)
Dynex lost $0.41 per common share in the first quarter, as widening mortgage spreads caused a $140 million net portfolio loss after hedges. The sharp reversal from that loss to the second-quarter gain shows how exposed book value is to spread movements. (Dynex Capital, Dynex Capital)
Dynex still uses substantial leverage: repurchase-agreement borrowings reached $22.6 billion and leverage was 8.1 times equity at the end of June. A rise in funding costs, a fall in MBS values or weaker repo-market liquidity could therefore hit shareholders disproportionately. (Dynex Capital, StockTitan)
Second-quarter net interest income was $0.42 per share, below the $0.51 of common dividends declared. The payout therefore depended partly on portfolio and hedge gains, which are less dependable than recurring spread income and could leave the dividend vulnerable in a weaker market. (Dynex Capital, Exa)
Data summarised monthly by Lightyear AI. Last updated on 16 Sept 2026.
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Funds containing Dynex Capital
AllEURGBPUSD
Fund name | Fund size | $DX weighting |
|---|---|---|
SPDR Russell 2000 US Small Cap€R2US | €4.8B | 0.08% |
iShares MSCI USA Small Cap ESG Enhanced CTB€SXRG | €2.8B | 0.07% |
iShares MSCI USA Small Cap CTB Enhanced ESG£CUS1 | £2.4B | 0.07% |
SPDR MSCI All Country World IM€SPYI | €7.5B | 0.05% |
iShares MSCI World Small Cap$WSML | $9B | 0.03% |
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