Dynex Capital posts 2.5% loss, raises $442M equity amid portfolio expansion

Filed April 20, 2026 · Period ending April 20, 2026 · ~1 min read

Key Changes

• high

  Book value fell 6.3% to $12.60/share; comprehensive loss of $0.42/share driven by widening mortgage spreads late in quarter, resulting in $140M net portfolio loss after hedges.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• high

  Raised $442M via ATM stock sales, diluting shares outstanding 18% (174.8M to 207.2M shares); proceeds funded $6.0B net investment purchases, lifting MBS holdings from $19.4B to $25.0B.

  Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
• medium

  Leverage rose to 8.6x equity as company deployed capital; net interest spread improved from 0.75% to 1.11% on lower repo costs (4.19% to 3.86%) following Fed rate cuts.

  Exhibit 99.1 view on EDGAR →