Income Investors Chasing Dynex Capital's 14.3% Yield Should See These Numbers First
Dynex Capital (NYSE:DX) operates as an internally managed mortgage REIT specializing in Agency RMBS and CMBS.
Dynex Capital's Fat Yield Still Doesn't Make Sense
Dynex Capital delivered a 28.6% total return since September, outperforming expectations but not altering my overall cautious stance. DX's Q4 saw improved net interest income, lower financing costs, and significant unrealized gains, driving a recovery in book value per share. Despite positive momentum, DX continues to pay out more in dividends than it generates in distributable earnings, raising sustainability concerns.
Dynex Capital, Inc. (DX) Q4 2025 Earnings Call Transcript
Dynex Capital, Inc. (DX) Q4 2025 Earnings Call Transcript
Dynex Capital: A Falling-Rate Winner For 2026
Dynex Capital is a buy-rated mREIT positioned to benefit from anticipated Fed rate cuts and a favorable interest rate environment. DX's portfolio is 93% agency RMBS, offering low credit risk and strong net interest income growth, with four consecutive quarters of rising NII. Trading at a 1.07x price-to-book, DX offers a compelling 15% yield, outperforming peers like Annaly and AGNC on income metrics.
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.
Collect More Monthly High-Yield Income From REIT Dynex Capital As Rates Drop
Dynex Capital, Inc. is rated a Buy for its dependable, high-yield monthly dividend and strong Q3 2025 earnings performance. DX reported YTD shareholder returns of 20%, a 15% dividend yield, and robust portfolio growth, supported by favorable agency RMBS spreads. Lower interest rates, insider buying, and cracks in private credit markets enhance the investment outlook for DX, despite sector risks.
Dynex Capital, Inc. (DX) Q3 2025 Earnings Call Transcript
Dynex Capital, Inc. (NYSE:DX ) Q3 2025 Earnings Call October 20, 2025 10:00 AM EDT Company Participants Alison G. Griffin - Vice President of Investor Relations Smriti L.
Dynex Capital: Preferreds Update And Risk Review
Dynex Capital, Inc. 6.9% SER C PFD offers a 9.8% yield, with sector-leading equity/preferred coverage, making it one of the lowest-risk agency mREIT preferreds available. Despite lower risk, DX.PR.C trades at a higher yield, due to its floating rate structure and callability, not because of underlying credit risk. Key risks include interest rate volatility and remote regulatory changes, but agency spreads and Fed support mitigate these concerns.
A 16% That's Set To Grow: Dynex
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