Dynex CapitalNYSE: DX

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) announced today that it will release its financial results for the second quarter 2024 before market open and will host a conference call and live audio webcast to discuss its financial results at 10:00 a.m. ET on Monday, July 22, 2024. Webcast Details The live audio webcast will be accessible online at www.dynexcapital.com on the homepage under “Current Events.” An archive of the webcast will be available on the Company website a.

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) announced today that the Company's Board of Directors has declared the dividend on shares of its 6.900% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NYSE: DXPRC) for the second quarter of 2024. The Company will pay the regular quarterly dividend of $0.43125 per share on July 15, 2024, to shareholders of record of the Series C Preferred Stock as of July 1, 2024. About Dynex Capital Dynex Capital, Inc. is a.

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that it priced its underwritten public offering of 10,500,000 shares of common stock for total expected gross proceeds of approximately $126 million before underwriting discounts and commissions and offering expenses. The Company granted the underwriters in the offering a 30-day option to purchase up to an additional 1,575,000 shares of its common stock. The offering is subject to customary closing.

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) (the “Company”) announced today that it has launched an underwritten public offering of 10,500,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of its common stock. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be compl.

GLEN ALLEN, Va.--(BUSINESS WIRE)--Dynex Capital, Inc. (NYSE: DX) (the “Company”) and its Board of Directors (“the Board”) today announced the appointment of Marie Chandoha as an independent director, effective June 1, 2024. Ms. Chandoha has been appointed to the Audit Committee and Nominating & Corporate Governance Committee. Ms. Chandoha has close to 40 years of experience in the asset management industry, including having spent nearly 10 years as CEO of Charles Schwab Investment Managemen.

We think Dynex, Inc.'s asset-liability relationship has improved since our latest coverage. Asset-level returns might be sustained by rising risks in the mortgage space. Receding repo rates might assist DX's funding costs.

I prefer not to concentrate all my investments in one place. With the MBS sector showing signs of improvement, I am investing in three different positions. We explore a third pick and the reasons for including it alongside my other Agency MBS holdings.

We take a look at the action in preferreds and baby bonds through the third week of February and highlight some of the key themes we are watching. Preferreds fell this week due to the rise in Treasury yields, causing a headwind for the sector. Agency mortgage REITs have posted strong Q4 numbers, with rising book values and improved equity/preferred coverage.

Dynex Capital's solid run looks set to come to an end. We think a lower yield curve level will occur and inflict losses on its asset base due to its negative duration. Dynex's positive spread duration could be another risk as we foresee a slowdown in the economy and an inverse relationship between the yield curve and credit risk occurring in due course.