Dynex Capital (NYSE: DX) reported a third-quarter 2026 net loss of $335.5 million, or $1.34 per common share on both a basic and diluted basis. Comprehensive loss to common shareholders was $374.8 million, while book value per common share declined to $10.91 at September 30 from $12.90 at June 30.
The REIT said wider Agency MBS spreads reduced the fair value of its investment portfolio. During the quarter, Dynex raised $384 million of capital and added $3.2 billion of Agency MBS.
- Total economic return was negative $1.48 per common share, or negative 11.5% of beginning book value.
- Net interest income was $101.6 million, compared with $93.8 million in the prior quarter.
- Total investment portfolio increased about 3% to $28.3 billion.
- Liquidity totaled $1.3 billion, representing 42% of total equity at September 30.
- Dividends declared were $0.51 per common share.
- Leverage including TBAs increased to 9.0 times shareholders' equity from 8.1 times at June 30.
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