Dynex Capital Reports Q1 2025 Financial Results

Dynex Capital ( (DX) ) has released its Q1 earnings. Here is a breakdown of the information Dynex Capital presented to its investors.

Dynex Capital, Inc. is a financial services company operating as a Real Estate Investment Trust (REIT), focusing on generating dividend income and long-term returns through the financing of real estate assets in the United States. The company is known for its comprehensive risk management and disciplined capital allocation strategies.

In its first quarter of 2025, Dynex Capital reported a total economic return of $0.33 per common share, which represents 2.6% of the beginning book value. The company declared dividends of $0.47 per common share, although this was offset by a decline in book value by $0.14 per share. The book value per common share stood at $12.56 as of March 31, 2025.

Key financial highlights include a comprehensive income of $0.16 per common share and a net loss of $0.06 per common share. Dynex Capital successfully raised $240 million in equity capital through at-the-market common stock issuances and expanded its investment portfolio by purchasing $895 million in Agency RMBS and $55 million in Agency CMBS, along with increasing TBA investments by $430 million. The company’s liquidity was reported at $790 million, with leverage at 7.4 times shareholders’ equity.

Management emphasized their strategic focus on building resilience in a dynamic macroeconomic environment by raising capital, preserving liquidity, and maintaining a flexible portfolio. This approach is intended to support the company’s core strategy of maintaining a healthy balance sheet and robust liquidity position.

Looking ahead, Dynex Capital’s management remains committed to navigating the evolving economic landscape with agility and strategic foresight, aiming to continue delivering value to its stakeholders through prudent financial management and investment strategies.