Dynex Capital Inc (DYT1)
XSTU 
Summary
DYT1 Chart
Dynex Capital: Positioned For Wide Spreads And Low Prepays
Agency MBS spreads remain historically wide, offering unusually high risk-adjusted yields despite low prepayment risk. The embedded option premium in RMBS spreads provides a persistent, systematic risk premium for DX. A likely bull steepener, falling front-end rates with a stable long end, supports carry and reduces funding pressure.
Dynex Capital: Strong Quarterly Result Buoy DX.PR.C Preferred
Dynex Capital (DX) preferred DX.PR.C offers a 9.35% yield, with strong book value growth and sector-leading equity/coverage ratio after a robust quarter. DX.PR.C's price is resilient to Fed rate cuts, as floating-rate preferreds are more sensitive to credit spreads than short-term rates. Redemption risk is present but remains modest; DX appears content to keep DX.PR.C outstanding, with price likely to stay near par barring major credit spread changes.
Forget The Soft Landing: Buy These 2 Dividend Giants To Cushion The Fall
Some believe that interest rates are going to drift down and we'll have a soft landing. History suggests that a drastic fall is far more likely. These two investments should benefit, while others struggle.
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Dynex Capital Inc Profile
| - Industry | - Sector | Byron L. Boston CEO | XSTU Exchange | US26817Q8868 ISIN |
| US Country | 22 Employees | 21 Nov 2025 Last Dividend | 21 Jun 2019 Last Split | 30 Jun 1989 IPO Date |
Overview
Dynex Capital, Inc. operates as a mortgage real estate investment trust (REIT), focusing on investing in mortgage-backed securities (MBS) on a leveraged basis within the United States. The company's approach hinges on an investment portfolio comprised of agency and non-agency MBS, including both residential and commercial MBS (CMBS), as well as CMBS interest-only securities. Agency MBS feature a principal payment guarantee by an agency of the U.S. government or a government-sponsored entity such as Fannie Mae and Freddie Mac, while non-agency MBS lack such guarantees. Having qualified as a real estate investment trust for federal income tax purposes, Dynex Capital aims to avoid federal income taxes by distributing at least 90% of its taxable income to its stockholders in the form of dividends. Founded in 1987, Dynex Capital is headquartered in Glen Allen, Virginia, and has established itself as a key player in the real estate investment sector through its focused investment strategies and commitment to shareholder value.
Products and Services
- Agency MBS
These are mortgage-backed securities that come with a guaranty of principal payment from a U.S. government agency or a government-sponsored entity like Fannie Mae and Freddie Mac. The agency MBS portfolio allows investors to engage in a relatively lower-risk segment of the mortgage market, leveraging the government-backed guarantee to mitigate the risk of default.
- Non-Agency MBS
In contrast to agency MBS, non-agency MBS are not backed by any government agency guarantee. This category includes securities backed by residential and commercial mortgages without the principal payment guaranty, posing a higher risk but potentially offering higher returns to investors willing to engage with the non-agency segment.
- Residential and Commercial MBS (CMBS)
Dynex Capital invests in both residential MBS and commercial MBS. While residential MBS are backed by mortgage loans on residential properties, CMBS are backed by loans on commercial properties. This diversification allows Dynex to balance its portfolio across different segments of the real estate market, optimizing returns and risk management.
- CMBS Interest-Only Securities
These are a specific type of commercial mortgage-backed securities where the investor receives only the interest payments from a pool of commercial mortgages. This investment product typically offers higher yields and suits investors looking for income-generating investments in the real estate market. However, they do carry a higher risk, particularly with regard to changes in interest rates and the potential impact on the value of the securities.
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