Dynex Capital, Inc.

NYSE:DX Stock Report

Market Cap: US$3.2b

Dynex Capital Future Growth

Future criteria checks 2/6

Dynex Capital is forecast to grow earnings and revenue by 20% and 1.4% per annum respectively. EPS is expected to decline by 13.3% per annum. Return on equity is forecast to be 12.4% in 3 years.

Key information

20.0%

Earnings growth rate

-13.29%

EPS growth rate

Mortgage REITs earnings growth21.6%
Revenue growth rate1.4%
Future return on equity12.40%
Analyst coverage

Low

Last updated25 Jul 2026

Recent future growth updates

Recent updates

Seeking Alpha • Aug 02

How Dynex Capital Transformed Into The Third-Largest Agency mREIT: Yield 15%

Summary The Speedboat Era Ends: Formerly the smallest and most agile agency mREIT, Dynex Capital has systematically expanded its balance sheet to become a dominant player. Portfolio fair value reached $27.6 billion in Q2 2026, an 11% increase from Q1 and a massive surge from $8.6 billion just two years prior. As portfolio scale expands, management has shifted away from tactical asset rotation toward interest-rate swaps, tying future performance more closely to broader trends. Capitalizing on the Federal Reserve's balance sheet runoff, DX is aggressively acquiring agency MBS at low valuations relative to U.S. Treasuries and corporate bonds. Read the full article on Seeking Alpha
Seeking Alpha • Apr 24

Dynex Capital: Current Headwinds And Performance Warrant Caution

Summary I recommend holding Dynex Capital, Inc. due to poor recent performance and susceptibility to adverse economic conditions, offering a high dividend but limited growth potential. DX's stock has shown minimal upside, fluctuating between $10.79 and $14.52, with weak financial performance and consistent earnings shortfalls signaling operational challenges. The company's leveraged investment strategy is highly sensitive to interest rate fluctuations, posing significant risks to its portfolio and dividend sustainability. Sensitivity analysis indicates greater downside risk with limited upside potential, supporting a cautious hold rating amid current economic uncertainty. Read the full article on Seeking Alpha
Seeking Alpha • Apr 17

Dynex Capital: Mortgage REIT With Strong Margins And High Yield For Long-Term Buy

Summary For my initial rating of Dynex Capital stock, it gets a buy rating. Upside factors include strong profit margins, low leverage risk, a high dividend yield and monthly payouts supported by cashflow, and portfolio growth. The mortgage REIT market has grown and serves an important need, providing added liquidity to the mortgage financing market. Key risks include interest rate risk and credit risk, though credit risk is mitigated somewhat by holding US agency-backed MBS securities, which is 98% of this firm's portfolio. Read the full article on Seeking Alpha
Seeking Alpha • Feb 12

Seeking +13% Yields: Dynex

Summary Income should pour into your account, not dribble in. We take a three-legged approach to mREIT investing for income. Today, we dive into the third leg. Read the full article on Seeking Alpha
Seeking Alpha • Feb 04

Dynex Capital: Staying Positive For Q1

Summary Dynex Capital, Inc. delivered strong Q4 results, beating revenue and EPS estimates, despite a slight decline in book value per share. Elevated interest rates and wide mortgage spreads are expected to persist, potentially benefiting Dynex's income and reducing refinancing risks. Dynex's portfolio strategy focuses on high coupon, government-insured agency products, likely providing an asymmetrical risk-return tradeoff. We think CPRs may be overstated, which might surprise the market later on. Dynex trades at a minor discount. However, we think its yield is stellar, especially compared to the yield on its preference shares. Read the full article on Seeking Alpha
Seeking Alpha • Jan 13

Dynex Capital: Re-Rating Catalyst In 2025

Summary Dynex Capital is poised to benefit from anticipated interest rate cuts in 2025, despite the Fed's recent hawkish stance and inflation uptick. The stock is currently selling at a 4% discount to book value, offering substantial value for passive income investors with a stable 13% dividend yield. Lower interest rates should improve DX's negative net interest spread, enhancing profitability and potentially leading to a higher valuation. The biggest risk is the Fed maintaining high rates if inflation persists, which could hinder Dynex Capital's re-rating and growth prospects. Read the full article on Seeking Alpha
Seeking Alpha • Nov 19

Dynex Capital: A Tactical Play In Motion

Summary Dynex Capital Inc.'s forward dividend yield and a changing U.S. inflation outlook make a strong case for a tactical opportunity. Shifting to specified pools to secure certainty might de-risk the vehicle. Additionally, a more desirable short-term liquidity market fuels an upbeat argument. Dynex's common stock trades below book value, and its preferred stock doesn't seem overly demanding, reducing the risk of Dynex's common shares being 'toxic waste.' This seems like a great deal to those seeking to capture dividends or wanting to bet on short-term upside. Read the full article on Seeking Alpha
Seeking Alpha • Oct 22

Dynex Capital Now Offers A Consistent High Yield Dividend Paid Monthly From Real Estate Mortgage Assets

Summary As a retired income investor, I focus on high-yield distributions, particularly from REITs, which offer diversification and inflation hedging but are sensitive to interest rates. Despite the real estate sector's poor performance over the past three years, Dynex Capital is now a compelling buy due to its strong Q3 earnings, increased dividend, and strategic positioning. Dynex's Q3 results show improved performance, with increased book value, reduced leverage, and higher comprehensive income, driven by strategic capital management and favorable market conditions. I recommend buying DX stock at its current price of $12.60 for a 14% dividend yield, supported by a well-covered, consistent monthly income stream. Read the full article on Seeking Alpha
Seeking Alpha • Aug 01

Dynex Capital: I Am Getting A 13% Yield On My Last Buy

Summary Mortgage REITs like Dynex Capital are becoming more attractive for passive income investors in a lower-rate environment. Dynex Capital focuses on Agency residential mortgage-backed securities, poised to benefit from falling interest rates. With a 12.8% dividend yield and potential for increased valuations, Dynex Capital is recommended for passive income investors in the current market. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:DX - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2027489506N/AN/A1
12/31/2026390278N/AN/A1
6/30/2026502425237237N/A
3/31/2026304231184184N/A
12/31/2025372309121121N/A
9/30/2025230175122122N/A
6/30/2025108575151N/A
3/31/2025108633838N/A
12/31/20241501061414N/A
9/30/2024123791616N/A
6/30/20244952828N/A
3/31/2024112684141N/A
12/31/202327-146262N/A
9/30/20234557676N/A
6/30/20234429191N/A
3/31/202318-239696N/A
12/31/2022177135126126N/A
9/30/2022146106135135N/A
6/30/2022203167150150N/A
3/31/202212994151151N/A
12/31/202112891147147N/A
9/30/2021154116153153N/A
6/30/2021179141158158N/A
3/31/2021417379160160N/A
12/31/2020200160174174N/A
9/30/2020211175183183N/A
6/30/202013397174174N/A
3/31/2020-182-217N/A179N/A
12/31/2019-137-166N/A175N/A
9/30/2019-270-299N/A164N/A
6/30/2019-208-236N/A173N/A
3/31/2019-73-101N/A179N/A
12/31/201824-5N/A181N/A
9/30/201812496N/A187N/A
6/30/201810881N/A194N/A
3/31/20188558N/A199N/A
12/31/20175023N/A204N/A
9/30/20179771N/A209N/A
6/30/201710176N/A207N/A
3/31/201710480N/A204N/A
12/31/20165734N/A211N/A
9/30/201618-3N/A212N/A
6/30/2016-22-54N/A215N/A
3/31/201610-21N/A220N/A
12/31/2015347N/A217N/A
9/30/201546-21N/A217N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: DX's forecast earnings growth (20% per year) is above the savings rate (3.7%).

Earnings vs Market: DX's earnings (20% per year) are forecast to grow faster than the US market (16.8% per year).

High Growth Earnings: DX's earnings are forecast to grow, but not significantly.

Revenue vs Market: DX's revenue (1.4% per year) is forecast to grow slower than the US market (12.9% per year).

High Growth Revenue: DX's revenue (1.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: DX's Return on Equity is forecast to be low in 3 years time (12.4%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/11 04:10
End of Day Share Price 2026/08/11 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Dynex Capital, Inc. is covered by 17 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kenneth BruceBofA Global Research
Douglas HarterBTIG
Eric HagenBTIG