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Delayed · Oct 19, 2:38 AM ET
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Dynex Capital, Inc. DX

Listed / Traded Mortgage NYSE Mgmt: —

Dynex Capital, Inc. operates as a mortgage real estate investment trust (mREIT), primarily engaging in the leveraged acquisition of various mortgage-backed securities (MBS) within the United States. Its investment portfolio includes both agency and non-agency MBS. Agency MBS are distinguished by a principal payment guarantee from a U.S. government entity or a government-sponsored enterprise (GSE), such as Fannie Mae or Freddie Mac. In contrast, non-agency MBS do not possess this governmental backing. Dynex's holdings specifically encompass residential MBS, commercial MBS (CMBS), and certain CMBS interest-only instruments. For federal income tax purposes, the company holds the designation of a real estate investment trust. This status typically exempts Dynex Capital from federal corporate income tax liabilities, provided it distributes a minimum of 90% of its taxable earnings to its shareholders. Established in 1987, the firm maintains its corporate headquarters in Glen Allen, Virginia.

Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-25 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K

Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.

Snapshot

Price
$10.93
Market cap
$2.70B
Enterprise value
$24.75B
Dividend yieldi
18.66%
Annual dividendi
$2.04
Frequency
Monthly
FFO / sharei
Not reported (common for mortgage REITs)
EAD / sharei
$0.31 · Q1 2026
Net debt / EBITDAi
28.55x · GAAP est.
Op. cash flow / sharei
$0.97
Price / OCFi
11.31
Payout (% of OCF)i
211.17%
Debt / book capitali
87.70%
Premium / disc. to NAVi
No free consensus-NAV source
Credit ratingi
No free ratings feed

Reported FFO / EAD / leverage are from the Q1 2026 earnings release (filed 2026-04-20) — 8-K, EX-99.1 ✓ Verified to filing.

Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.

$10,000 invested

914shares (~$10.93 each)
$1866est. dividends / year
$156≈ per month
18.66%current yield

Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.

Model DX yourself — any amount, shares, per-payment & a multi-year DRIP projection →

Balance sheet (latest FY: 2025)

Total debt
$13.91B
Cash
$930.39M
Net debt / EBITDAi
28.55x
Debt / book capitali
87.70%
Total assets
$17.34B
Total equity
$2.46B
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Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.

Financial history

FYRevenueNet incomeD&A EBITDAOp. cash flow
2025 $533.52M $319.07M $2.10M $740.33M $120.82M
2024 $318.03M $113.90M $1.87M $429.42M $14.39M
2023 $132.60M $-6.13M $2.31M $211.63M $62.20M
2022 $-2.37M $143.16M $2.35M $189.13M $126.35M
2021 $66.76M $102.26M $2.31M $110.24M $146.97M
2020 $232.26M $177.53M $1.99M $212.13M $173.95M

Dividends

Recent regular dividends per share (special distributions excluded), oldest → newest.

Ex-dateRecordPaymentDeclaredAmountFreq.
2026-10-222026-10-222026-11-02 2026-10-12$0.17Monthly
2026-09-212026-09-212026-10-01 2026-09-11$0.17Monthly
2026-08-212026-08-212026-09-01 2026-08-11$0.17Monthly
2026-07-232026-07-232026-08-03 2026-07-13$0.17Monthly
2026-06-222026-06-222026-07-01 2026-06-11$0.17Monthly
2026-05-212026-05-212026-06-01 2026-05-11$0.17Monthly
2026-04-232026-04-232026-05-01 2026-04-13$0.17Monthly
2026-03-232026-03-232026-04-01 2026-03-11$0.17Monthly
2026-02-232026-02-232026-03-02 2026-02-11$0.17Monthly
2026-01-212026-01-212026-02-02 2026-01-12$0.17Irregular
2026-01-022026-01-022026-01-09 2025-12-11$0.17Monthly
2025-11-212025-11-212025-12-01 2025-11-10$0.17Monthly
2025-10-232025-10-232025-11-03 2025-10-13$0.17Monthly
2025-09-222025-09-222025-10-01 2025-09-11$0.17Monthly
2025-08-222025-08-222025-09-02 2025-08-11$0.17Monthly
2025-07-232025-07-232025-08-01 2025-07-11$0.17Monthly
2025-06-232025-06-232025-07-01 2025-06-11$0.17Monthly
2025-05-232025-05-232025-06-02 2025-05-13$0.17Monthly
2025-04-232025-04-232025-05-01 2025-04-11$0.17Monthly
2025-03-242025-03-242025-04-01 2025-02-20$0.17Monthly
2025-02-242025-02-242025-03-03 2025-02-12$0.15Monthly
2025-01-232025-01-232025-02-03 2025-01-13$0.15Irregular
2025-01-022025-01-022025-01-07 2024-12-11$0.15Monthly
2024-11-222024-11-222024-12-02 2024-10-21$0.15Monthly

Coverage (payout of operating cash flow): 211.17%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).

Recent news — DX

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Other Mortgage REITs

Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.