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9/13/10Dynex Capital, Inc. to Redeem Preferred Stock for Common Stock (Benzinga)

Dynex Capital, Inc. (NYSE: DX) announced today that its Board of Directors has authorized the Company to redeem all 4,221,539 outstanding shares of the Company's Series D 9.50% Cumulative Convertible Preferred Stock. In the redemption, which is expected to be completed on or about October 15, 2010, each holder of a share of Series D Preferred Stock will receive one share of Dynex's Common Stock. This redemption is taking place pursuant to provisions of Dynex's articles of incorporation,...

8/10/09Dynex Looks Like a Mortgage REIT That’s Built to Last (REIT Wrecks)

Dynex Capital Inc. is a rather small US-based Mortgage REIT that invests in securitized residential and commercial mortgage loans and non-agency MBS. Management has a significant stake in the common stock, so it shouldn't be surprising that the company made almost no new investments in 2006 and 2007.As of June 30, 2009, Dynex Capital had [...]

8/10/09Dynex Looks Like a Mortgage REIT That's Built to Last (REIT Wrecks)

Dynex Capital Inc. is a rather small US-based Mortgage REIT that invests in securitized residential and commercial mortgage loans and non-agency MBS. Management has a significant stake in the common stock, so it shouldn't be surprising that the company made almost no new investments in 2006 and 2007. As of June 30, 2009, Dynex Capital had carrying assets of $245.1 million in non-Agency MBS, which was financed with $192.5 million in securitizations and short term debt repurchase agreements....

7/23/08Earnings Releases: Just Whenever (Mortgage REIT Journal)

Just a quick rant to complain about the sputtering start of the Q2 mREIT earnings season. Dynex Capital (DX) had to replace its earnings release; book value and portfolio duration were misstated in the original version. At least Dynex got it done in a timely fashion -- FBR Group (FBR), which has a 9:00 am ET Thursday conference call, just released (it's after 10 pm Wednesday now) its second-quarter earnings. I skimmed the release; no serious accounting issues or any particular reason that...

2/15/08Mortgage REIT Roundup - February 15th (Mortgage REIT Journal)

Just a few odds and ends here that merited a quick note... Dynex Capital (DX) reported fourth-quarter earnings of $0.05/share and a GAAP book value of $8.22/share. The Company also declared a $0.10/share common stock dividend despite having continued net operating loss carryforwards (and therefore no taxable income). Dynex is optimistic about its future prospects, electing to pursue an agency MBS strategy in addition to its previously announced efforts in CMBS. Dynex stock was up on the...


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