---
schema_version: "secwatch.filing_event.v1"
accession: "0000826675-26-000114"
form_type: "8-K"
ticker: "DX"
cik: "0000826675"
company_name: "DYNEX CAPITAL INC"
filed_at: "2026-10-19T12:01:54+00:00"
generated_at: "2026-10-19T12:05:04.928003+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Dynex Q3 2026 book value drops to $10.91 from $12.90; economic return -11.5% on MBS spread widening

## Summary
- Book value per common share $10.91 at Sept 30, 2026, down $(1.99) from $12.90 at June 30; total economic return $(1.48) per share, or (11.5)% of beginning book value.
- Comprehensive loss $(1.49) per common share and net loss $(1.34) per share; net interest income rose to $101.6M from $93.8M as average interest-earning assets grew 10%.
- MBS and other fair value fell $1.50B on wider Agency MBS spreads, partly offset by $790M interest rate swap gains and $377M Treasury futures gains; total net fair value change $(461.1)M.
- Portfolio grew 3% to $28.3B on $3.2B of Agency MBS purchases; 99.99% Agency, RMBS 95% ($26.8B) and CMBS 5% ($1.4B); leverage rose to 9.0x from 8.1x.
- Raised $384M net capital: $268M common equity via ATM and $116M of 9.375% Series D preferred; dividends declared $0.51/share; liquidity $1.3B, 42% of equity.

## SEC filing metadata
- accession: 0000826675-26-000114
- form_type: 8-K
- ticker: DX
- cik: 0000826675
- company_name: DYNEX CAPITAL INC
- filed_at: 2026-10-19T12:01:54+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/826675/000082667526000114/0000826675-26-000114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/826675/000082667526000114/dx-20261019.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000826675-26-000114
- JSON: https://secwatch.observer/filing/0000826675-26-000114.json
- Plain text: https://secwatch.observer/filing/0000826675-26-000114.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.