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Dynex Capital(NYSE) DX

Market Cap$3.20BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (1988)+596%
5 Year+40%
1 Year+21%
1 Month+2%
Premium Feature
Moneyball Superscore
57/100
$12.90
+0.00%
+0.00Today
After hours$12.93+$0.03 (+0.23%)
Dynex Capital last closing stock price
MetricPriceDate
Last closeUSD 12.912026-08-28
Dynex Capital stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-0.92%USD 13.032026-08-21
1 month+1.93%USD 12.672026-07-29
3 month+2.57%USD 12.592026-05-29
Year to date+3.36%USD 12.492025-12-31
1 year+20.61%USD 10.702025-08-28
3 year+51.67%USD 8.512023-08-29
5 year+39.6%USD 9.252021-08-27
Since inception+595.67%USD 1.861988-02-10

Dynex Capital Financials at a Glance

Market Cap

$3.20BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$886.86M

Net Income (TTM)

$436.18M

EPS (TTM)

$2.62

P/E Ratio

4.93

Dividend

$2.04

Beta (Volatility)

0.70 (Low)

Price

$12.90

Volume

3,080,043

Open

$12.95

Previous Close

$12.91

Daily Range

$12.87 - $12.98

52-Week Range

$11.83 - $14.93

Estimated Earnings Date

Oct 19, 2026

DX News

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This Real Estate Stock Is Yielding 14.6%!

Bram BerkowitzDec 1, 2025
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Dynex Capital Portfolio Hits $14 Billion

Motley Fool Markets TeamJul 21, 2025
featured-transcript-logo

Dynex Capital Inc (DX) Q4 2018 Earnings Conference Call Transcript

Motley Fool TranscribersFeb 7, 2019

Where the Money Is: Halloween Edition

Matt KoppenhefferOct 31, 2013

Dynex Capital Declares Fresh Dividends

Eric VolkmanSep 17, 2013

The Lazy Days of Summer Lie Ahead for mREITs

Amanda AlixAug 1, 2013

Dynex Capital Keeps Q2 Dividend Steady

Eric VolkmanJun 14, 2013
Page 1

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57

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About Dynex Capital

Dynex Capital, Inc. buys bundles of home and business loans. It earns money from the interest paid on these loans. This helps fund the American housing and property markets.

What Dynex Owns

  • Agency RMBS: Residential mortgage-backed securities (MBS) with principal payments guaranteed by U.S. government-sponsored entities like Fannie Mae or Freddie Mac.
  • Agency CMBS: Commercial mortgage-backed securities collateralized by loans on multifamily properties like apartment buildings.
  • CMBS IO: Interest-only securities that pay out based on interest from commercial mortgage pools rather than principal payments.
  • TBA Securities: Forward contracts for future delivery of mortgage-backed securities used to adjust the portfolio mix.

Recent Strategic Moves

  • Issued 62,149,933 shares of common stock during the first six months of 2026 to raise $0.8 billion.
  • Deployed new capital to purchase $2.8 billion in Agency MBS during the second quarter of 2026.
  • Increased the total investment portfolio by 42% between Dec. 31, 2025, and June 30, 2026.

Managing Risk and Capital

Dynex uses a complex hedging strategy involving interest rate swaps and Treasury futures to protect its value from changing interest rates. The company operates as a real estate investment trust, which requires distributing at least 90% of its taxable income to shareholders.

The Numbers That Matter

  • Interest income rose to $94 million for the second quarter of 2026.
  • Net interest income reached $93.8 million in the second quarter of 2026, up from $79.3 million in the first quarter of 2026.
  • Total liquidity was $1.6 billion as of June 30, 2026, which included $608 million in unrestricted cash.
  • Portfolio leverage was 8.1 times shareholders' equity as of June 30, 2026.

Evolution of a Mortgage REIT

Dynex has shifted its focus toward higher-yielding Agency mortgage securities while maintaining a small team of 28 employees. Its strategy relies on balancing high leverage with active interest rate hedging to navigate volatile financial markets.

AI Generated • Jul 28, 2026

Industry

Mortgage Real Estate Investment Trusts (REITs)

Sector

Financials

Employees

28

CEO

Byron L. Boston, MBA; Smriti Laxman Popenoe, CFA, MBA

Website

www.dynexcapital.com

Headquarters

Glen Allen, VA 23059-5755, US

DX Financials

Key Financial Metrics (TTM)

Gross Margin

76.44%

Operating Margin

101.80%

Net Income Margin

49.18%

Return on Equity

16.91%

Return on Capital

4.51%

Return on Assets

1.65%

Earnings Yield

20.28%

Dividend Yield

15.80%

Payout Ratio

83.53%

Stock Overview

Market Cap

$3.20BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

248.17M

Volume

3.08M

Avg. Volume

5.17M

Financials (TTM)

Gross Profit

$677.89M

Operating Income

$902.85M

EBITDA

$771.29M

Operating Cash Flow

$236.58M

Capital Expenditure

$0.00

Free Cash Flow

$236.58M

Cash & ST Invst.

$607.56M

Total Debt

$22.64B

Dynex Capital Performance Analysis

Dynex Capital annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD -2,372,000N/A
20232023-12-31USD 132,601,000N/A
20242024-12-31USD 318,028,000139.8%
20252025-12-31USD 533,521,00067.8%
Dynex Capital sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-3033.9%
Q42025-12-3118.3%
Q12026-03-3145.4%
Q22026-06-3017.6%
Dynex Capital annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD 3.1714.2%
20232023-12-31USD -0.25N/A
20242024-12-31USD 1.49N/A
20252025-12-31USD 2.4765.7%
Dynex Capital sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30871.4%
Q42025-12-317.4%
Q12026-03-31-135.3%
Q22026-06-30295.1%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$302.75M

+170.9%

Gross Profit

$93.78M

-16.1%

Gross Margin

30.98%

N/A

Market Cap

$3.20BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$114.42M

N/A

Employees

28

N/A

Net Income

$180.79M

+1428.8%

EBITDA

$77.57M

+2.7%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$607.56M

+56.8%

Total Debt

$22.64B

N/A

Accounts Receivable

$104.27M

+87.3%

Inventory

$0.00

N/A

Long Term Debt

$0.00

N/A

Short Term Debt

$22.64B

N/A

Return on Assets

1.65%

N/A

Return on Invested Capital

28.44%

N/A

Free Cash Flow

$84.15M

+164.0%

Operating Cash Flow

$84.15M

+164.0%

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Questions About DX

What is the current price of Dynex Capital?

Dynex Capital is trading at $12.91 per share.

What is the 52-week range for Dynex Capital?

Over the past 52 weeks, Dynex Capital has traded between $11.83 and $14.93.

How much debt does Dynex Capital have?

As of the most recent reporting period, Dynex Capital reported total debt of $22.64B.

How much cash does Dynex Capital have on hand?

Dynex Capital reported $607.56M in cash and cash equivalents in its most recent financial results.

What is Dynex Capital’s dividend yield?

Dynex Capital currently has a dividend yield of 15.80%.

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