Dynex Capital, Inc. (NYSE: DX) shares declined slightly Monday. The company, a REIT with a long track record of generating dividends from high-quality mortgage assets, reported its fourth quarter and full year 2025 financial results today.
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Total economic return was $1.29 per common share, or 10.2% of beginning book value, for the fourth quarter of 2025, and $2.75 per common share, or 21.6% of beginning book value, for the full year 2025
Book value per common share proved to be $13.45 as of December 31, 2025 compared to $12.67 as of September 30, 2025 and $12.70 as of December 31, 2024
The REIT reported comprehensive income of $1.22 per common share and net income of $1.17 per common share for the fourth quarter of 2025; comprehensive income of $2.85 per common share and net income of $2.49 per common share for the full year 2025
REIT taxable income for 2025 is estimated at $229 million and includes amortization of deferred tax hedge gains of approximately $100 million
Dividends declared of $0.51 per common share for the fourth quarter of 2025 and $2.00 for the full year 2025.
Dynex also raised equity capital of $393 million during the fourth quarter of 2025 through at-the-market common stock issuances, bringing total capital raised for 2025 to $1.2 billion, net of issuance costs.
DX shares dipped 11 cents to $14.51.
