Dynex Capital, Inc. Announces Third Quarter 2026 Results
Dynex Capital reported a Q3 net loss of $(1.34) per share and total economic return of $(1.48) per share, or -11.5% of beginning book value, as wider Agency MBS spreads drove book value down from $12.90 to $10.91. EAD of $0.38 per share (non-GAAP) fell short of the $0.51 dividend declared, while net interest spread improved slightly to 1.18% and the portfolio grew 3% to $28.3 billion on $3.2 billion of MBS purchases. The company raised $384 million in the quarter, including $268 million of common equity via ATM and $116 million of 9.375% Series D preferred, pushing leverage up to 9.0x equity from 8.1x.
Key figures
- Liquidity
- $1.3 billion
- Leverage x
- 9
- Ead per share
- 0.38
- Capital raised
- 384000000
- Total portfolio
- 28300000000
- Economic return pct
- -11.5%
- Gain on derivatives
- 1041087000
- Net interest income
- 101562000
- Net interest spread
- 1.18%
- Book value per share
- 10.91
- Dividends declared per share
- 0.51
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