DYNEX CAPITAL INC
Dynex Capital, Inc. (NYSE: DX) operates as an internally managed real estate investment trust structured to deliver dividends to shareholders through long-term returns from investments in mortgage assets backed by U.S. housing and commercial real estate. The company's common and preferred stocks trade on the New York… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What DYNEX CAPITAL INC does
In the company’s own words
Dynex Capital, Inc. (NYSE: DX) operates as an internally managed real estate investment trust structured to deliver dividends to shareholders through long-term returns from investments in mortgage assets backed by U.S. housing and commercial real estate. The company's common and preferred stocks trade on the New York Stock Exchange, with additional information available at www.dynexcapital.com.
The company invests primarily in residential and commercial mortgage-backed securities (RMBS and CMBS) that are Agency securities guaranteed by U.S. government-sponsored enterprises including Fannie Mae and Freddie Mac. As of December 31, 2025, the majority of Dynex's investment portfolio consists of Agency-issued pass-through RMBS collateralized by pools of fixed-rate single-family mortgage loans, with CMBS comprising approximately six percent of the portfolio. The company may also invest opportunistically in other mortgage-related assets including adjustable-rate Agency RMBS, investment-grade non-Agency RMBS and CMBS, Agency and non-Agency CMBS interest-only securities, and residual interests in securitized mortgage loans.
Dynex employs a top-down investment framework emphasizing risk management and disciplined capital allocation designed to preserve book value and support dividends across market cycles. The company actively manages interest rate, prepayment, spread, liquidity, and counterparty risks through derivative instruments and strategic hedging. Financing is obtained primarily through repurchase agreements, with borrowings provided by major financial institutions and broker-dealers.
The company operates to qualify as a REIT, distributing at least ninety percent of taxable income to shareholders, and seeks to maintain exemption from registration under the Investment Company Act of 1940. Dynex maintains an Investment Policy approved by its Board of Directors that establishes investment and risk limitations, including restrictions on non-Agency MBS rated below investment grade and requirements for stress testing to model adverse market conditions.
As of December 31, 2025, Dynex employed twenty-eight full and part-time employees with an average tenure of 8.9 years. The company maintains no collective bargaining agreements and operates with a human capital strategy focused on professional development, employee engagement, and fostering a collaborative culture.
Company details
- Sector
- Real Estate
- Industry
- REITs
- Headquarters
- GLEN ALLEN, VA
- Fiscal year end
- December
- CIK
- 826675
- SIC
- 6798
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns DYNEX CAPITAL INC — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · DYNEX CAPITAL INC’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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