NYSE: DX
DYNEX CAPITAL INCCIK 0000826675 · SIC 6798 · Real Estate Investment Trusts
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (EPM 10-K) is open in full — no account needed.
Summary not yet generated.
Summary not yet generated.
Partner
Trade DX commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Summary not yet generated.
Summary not yet generated.
Dynex Capital offers 4.8M shares of 9.375% Series D preferred stock at $25 liquidation preference
6 material changes detected. Sign up free to read the summary.
Dynex Capital files preliminary prospectus for new Series D preferred stock; dividend rate and size not yet set
7 material changes detected. Sign up free to read the summary.
Dynex Capital expands ATM equity program by 80M shares to 301.3M total authorized
2 material changes detected. Sign up free to read the summary.
Dynex Capital prices 99.3M-share offering at $12.64/share, raising $1.26B for investments
4 material changes detected. Sign up free to read the summary.
DX: net income $180.8M. DX portfolio surges 42%; book value +/share on spread tightening
5 material changes detected. Sign up free to read the summary.
Dynex Capital reports 6.4% Q2 return, raises $391M equity, grows portfolio 11% to $27.6B
5 material changes detected. Sign up free to read the summary.
Dynex Capital expands board to seven members with appointment of independent director
3 material changes detected. Sign up free to read the summary.
Dynex Capital doubles authorized shares to 720M following shareholder approval
4 material changes detected. Sign up free to read the summary.
Dynex Capital adds Goldman Sachs, Morgan Stanley to equity sales program
2 material changes detected. Sign up free to read the summary.
Summary not yet generated.
net income -$80.4M. Dynex scales portfolio 27%
5 material changes detected. Sign up free to read the summary.
Dynex Capital authorizes $350M share buyback program through April 2028
3 material changes detected. Sign up free to read the summary.
Dynex Capital posts 2.5% loss, raises $442M equity amid portfolio expansion
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Dynex Capital launches at-the-market offering of up to 67.35 million shares
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed Oct 27, 2026 (period ending Sep 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Comprehensive Income (Loss) (Unaudited)
($s in thousands except per share data)
| Description | Three months ended September 30, 2026 | Three months ended September 30, 2025 | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|---|---|
| INTEREST INCOME | ||||
| Interest income | 332,497 | 149,679 | 892,637 | 356,484 |
| Interest expense | (230,935) | (119,068) | (618,039) | (285,612) |
| Net interest income | 101,562 | 30,611 | 274,598 | 70,872 |
| GAINS (LOSSES) | ||||
| Realized (loss) gain on sales of investments, net | (544) | — | 8,177 | — |
| Unrealized (loss) gain on investments, net | (1,465,047) | 142,469 | (1,742,480) | 286,118 |
| Gain (loss) on derivative instruments, net | 1,041,087 | (10,694) | 1,274,659 | (186,875) |
| Total (losses) gains, net | (424,504) | 131,775 | (459,644) | 99,243 |
| EXPENSES | ||||
| Compensation and benefits | (4,742) | (7,325) | (29,659) | (23,256) |
| Other general and administrative | (6,320) | (4,139) | (17,086) | (11,884) |
| Other operating expenses | (1,532) | (534) | (3,315) | (1,268) |
| Total operating expenses | (12,594) | (11,998) | (50,060) | (36,408) |
| Net (loss) income | (335,536) | 150,388 | (235,106) | 133,707 |
| Preferred stock dividends | (2,769) | (2,827) | (8,076) | (7,431) |
| Net (loss) income to common shareholders | (338,305) | 147,561 | (243,182) | 126,276 |
| Other comprehensive income: | ||||
| Unrealized (loss) gain on available-for-sale investments | (36,529) | 14,966 | (37,542) | 38,420 |
| Total other comprehensive (loss) income | (36,529) | 14,966 | (37,542) | 38,420 |
| Comprehensive (loss) income to common shareholders | (374,834) | 162,527 | (280,724) | 164,696 |
| Weighted average common shares-basic | 251,842,414 | 135,952,339 | 224,905,226 | 113,373,853 |
| Weighted average common shares-diluted | 251,842,414 | 136,927,985 | 224,905,226 | 114,202,402 |
| Net (loss) income per common share-basic | (1.34) | 1.09 | (1.08) | 1.11 |
| Net (loss) income per common share-diluted | (1.34) | 1.08 | (1.08) | 1.11 |
Consolidated Balance Sheets
($s in thousands except per share data)
| Description | September 30, 2026 (unaudited) | December 31, 2025 |
|---|---|---|
| Cash and cash equivalents | 993,008 | 531,043 |
| Cash collateral posted to counterparties | 834,736 | 399,344 |
| Mortgage-backed securities (including pledged assets of $25,239,341 and $14,593,470, respectively), at fair value | 25,912,607 | 16,306,988 |
| Due from counterparties | 61,439 | 17,425 |
| Derivative assets | — | 10,498 |
| Accrued interest receivable | 113,913 | 67,940 |
| Other assets | 9,503 | 8,940 |
| Total assets | 27,925,206 | 17,342,178 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Liabilities: | ||
| Repurchase agreements | 24,190,276 | 13,904,231 |
| Due to counterparties | 389,511 | 811,656 |
| Derivative liabilities | 89,336 | 4,830 |
| Cash collateral posted by counterparties | — | 8,373 |
| Accrued interest payable | 137,153 | 95,196 |
| Dividends payable | 50,580 | 37,171 |
| Other liabilities | 16,295 | 18,577 |
| Total liabilities | 24,873,151 | 14,880,034 |
| Shareholders’ equity: | ||
| Preferred stock, par value $0.01 per share, 50,000,000 shares authorized; 9,260,000 and 4,460,000 shares issued and outstanding, respectively ($231,500 and $111,500 aggregate liquidation preference, respectively) | 223,593 | 107,843 |
| Common stock, par value $0.01 per share, 720,000,000 and 360,000,000 shares authorized, respectively; 258,430,745 and 174,814,912 shares issued and outstanding, respectively | 2,584 | 1,748 |
| Additional paid-in capital | 4,025,147 | 2,921,551 |
| Accumulated other comprehensive loss | (164,603) | (127,061) |
| Accumulated deficit | (1,034,666) | (441,937) |
| Total shareholders’ equity | 3,052,055 | 2,462,144 |
| Total liabilities and shareholders’ equity | 27,925,206 | 17,342,178 |
Consolidated Statements of Cash Flows (Unaudited)
($s in thousands)
| Description | Nine months ended September 30, 2026 | Nine months ended September 30, 2025 |
|---|---|---|
| Operating activities: | ||
| Net (loss) income | (235,106) | 133,707 |
| Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||
| Realized gain on sales of investments, net | (8,177) | — |
| Unrealized loss (gain) on investments, net | 1,742,480 | (286,118) |
| (Gain) loss on derivative instruments, net | (1,274,659) | 186,875 |
| Amortization of investment premiums, net | 8,734 | 20,371 |
| Other amortization and depreciation | 1,587 | 1,556 |
| Share-based compensation expense | 8,307 | 8,316 |
| Increase in accrued interest receivable | (45,973) | (23,090) |
| Increase in accrued interest payable | 41,957 | 65,845 |
| Change in other assets and liabilities, net | (3,727) | (945) |
| Net cash provided by operating activities | 235,423 | 106,517 |
| Investing activities: | ||
| Purchases of mortgage-backed securities | (14,383,146) | (6,130,208) |
| Principal payments received on mortgage-backed securities, fair value option | 1,603,717 | 540,184 |
| Principal payments received on mortgage-backed securities, available-for-sale | 55,144 | 103,999 |
| Proceeds from sales of mortgage-backed securities | 910,594 | — |
| Principal payments received on mortgage loans held for investment | 85 | 216 |
| Net receipts (payments) on derivative instruments | 1,330,151 | (233,678) |
| (Decrease) increase in cash collateral posted by counterparties | (8,373) | 18,424 |
| Net cash used in investing activities | (10,491,828) | (5,701,063) |
| Financing activities: | ||
| Borrowings under repurchase agreements | 202,745,025 | 97,331,308 |
| Repayments of repurchase agreement borrowings | (192,458,980) | (92,140,906) |
| Proceeds from issuance of preferred stock | 115,750 | — |
| Proceeds from issuance of common stock | 1,101,051 | 775,946 |
| Cash paid for stock issuance costs | (255) | (157) |
| Payments related to tax withholding for share-based compensation | (4,615) | (1,622) |
| Dividends paid | (344,214) | (167,755) |
| Net cash provided by financing activities | 11,153,762 | 5,796,814 |
| Net increase in cash, including cash posted to counterparties | 897,357 | 202,268 |
| Cash including cash collateral posted to counterparties at beginning of period | 930,387 | 621,539 |
| Cash including cash collateral posted to counterparties at end of period | 1,827,744 | 823,807 |
| Supplemental Disclosure of Cash Activity: | ||
| Cash paid for interest on repurchase agreements | 576,082 | 219,768 |
Amounts as printed on the EDGAR/iXBRL face — ($s in thousands except per share data); ($s in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗