Dynex Capital reported a total economic return of 6.4% for the second quarter of 2026. Book value per share rose to $12.90, up 2.4% from the prior quarter, while net interest income improved to $0.42 per share. The company raised $391 million of accretive capital, expanding its capital base to $3.1 billion in the first half of the year from $2.4 billion at year-end, and grew its Agency MBS portfolio by more than 40%. Management said the outlook remains constructive, with mortgage spreads supportive, refinancing activity muted, and leverage expected to stay in a 7.5x to 8.5x range. Executives also flagged AI-driven refinancing risk as a reason to be increasingly selective in security choice.
Dynex Capital IncDynex Capital reported strong Q2 results with 6.4% total economic return, rising book value, improved net interest income, and accretive capital raise.
