Dynex Capital Reports Strong Q3 2025 Performance

Dynex Capital ( (DX) ) has released its Q3 earnings. Here is a breakdown of the information Dynex Capital presented to its investors.

Dynex Capital, Inc. is a real estate investment trust (REIT) that operates in the housing finance sector, focusing on transforming residential real estate into long-term yields through expert risk management and disciplined capital allocation.

In its third-quarter 2025 earnings report, Dynex Capital announced a total economic return of $1.23 per common share, reflecting a 10.3% return on beginning book value. The company also reported a significant increase in book value per common share to $12.67, alongside comprehensive income of $1.20 per common share.

Key highlights from the report include the successful raising of $254 million in equity capital through at-the-market stock issuances and the acquisition of $2.4 billion in Agency RMBS and $464 million in Agency CMBS. The company maintained a liquidity position of over $1 billion and reported a leverage ratio of 7.5 times shareholders’ equity.

Dynex Capital’s management emphasized their strategic focus on raising and deploying capital effectively, investing in highly liquid and transparent securities, and maintaining a disciplined investment process. The company anticipates continued improvements in financing rates due to recent Federal Reserve actions.

Looking ahead, Dynex Capital remains committed to its strategy of capitalizing on opportunities within the Agency mortgage-backed securities market, while focusing on effective risk management and disciplined capital allocation to drive long-term shareholder value.