- CEO
- Byron L. Boston
- Full Time Employees
- 22
- Sector
- Real Estate
- Industry
- REIT - Mortgage
- Address
- 4991 Lake Brook Drive Glen Allen VA United States of America 23060-9245
- IPO Date
- Feb 14, 2020
- Business
- Dynex Capital, Inc. (NYSE: DX) operates as an internally managed mortgage real estate investment trust (mREIT) that invests in agency and non-agency mortgage-backed securities (MBS) on a leveraged basis to generate attractive risk-adjusted returns for shareholders. The company focuses on residential MBS (RMBS), commercial MBS (CMBS), and CMBS interest-only securities, primarily those backed by U.S. government-sponsored enterprises such as Fannie Mae and Freddie Mac; it also holds to-be-announced (TBA) securities and maintains a diversified portfolio emphasizing capital preservation through disciplined risk management and global macroeconomic analysis. Headquartered in Glen Allen, Virginia, Dynex Capital was founded in 1987 and conducts its operations principally in the United States, supporting housing finance communities through its financing of real estate assets.
In recent developments, the company significantly expanded its portfolio to $15.8 billion as of September 30, 2025, reflecting over 50% growth from the prior year through $1.9 billion in investments in Agency RMBS and $364 million in Agency CMBS, alongside $953 million in TBA positions; it raised $282 million via at-the-market (ATM) stock issuances to fund this scaling while maintaining $891 million in liquidity and increasing economic leverage to 8.3 times shareholders' equity. During the third quarter of 2025, Dynex Capital reported continued execution of its capital deployment strategy amid stable repo funding markets, with management anticipating further financing cost improvements into Q4 due to Federal Open Market Committee actions; the firm also corrected prior dividend declarations for its Series C preferred stock. These initiatives underscore its opportunistic positioning in Agency MBS markets, ethical capital stewardship, and focus on long-term total returns with a 16.6% annualized dividend yield.