DYNEX CAPITAL INC (DX) Form 8-K — Oct 19, 2026
Dynex Capital reported a sharp Q3 2026 loss, with net loss of $(1.34) per common share and total economic return of $(1.48) per share, or (11.5)% of beginning book value. Book value per share fell to $10.91 from $12.90 at June 30, driven by wider Agency MBS spreads that produced a $1.5 billion net unrealized loss on investments, partially offset by $972 million in net derivative gains. Leverage rose to 9.0x equity from 8.1x. Despite the loss, the company remains defensively positioned with $1.3 billion in liquidity (42% of equity), grew its portfolio 3% to $28.3 billion, and raised $384 million of capital during the quarter.
Key figures
- Total Debt
- 24190276000
- Total Assets
- 27925206000
- Cash Position
- 993008000
- Shares Outstanding
- 258430745
- Liquidity
- $1.3 billion (42% of total equity)
- Ead per share
- 0.38
- Mbs purchases
- $3.2 billion
- Capital raised
- $384 million ($268M ATM common, $116M Series D preferred)
- Total portfolio
- $28.3 billion
- Dividend declared
- 0.51
- Leverage incl tba
- 9.0x vs 8.1x prior quarter
- Net interest spread
- 1.18%
- Book value per share
- 10.91
- Book value prior quarter
- 12.9
- Economic return pct of book
- -11.5%
- Total economic return per share
- -1.48
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