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0 0 0.000699500356887955 0.000713775874375558 0.000649536045681664 -0.000713775874375431 -0.000706638115631566 0.000678087080656742
Stock impact report

Dynex And AGNC: Don't Fall For The Massive Earnings, But Consider AGNC's Preferreds [Seeking Alpha]

Dynex Capital, Inc. (DX) 
Last dynex capital, inc. earnings: 11/1 08:00 am Check Earnings Report
US:NYSE Investor Relations: dynexcapital.com
Company Research Source: Seeking Alpha
Current low earnings multiples for DX and AGNC are misleading, as recent results are driven by one-time unrealized gains. Common dividends for both mREITs are unsustainably supported by unrealized gains; long-term cuts are likely as recurring earnings lag payouts. mREIT preferreds, especially those trading below par, offer superior risk-adjusted returns and capital preservation versus common shares. Looking for a portfolio of ideas like this one? Members of Portfolio Income Solutions get exclusive access to our subscriber-only portfolios. Learn More » asbe/iStock via Getty Images After years of suffering from a tumultuous interest rate environment, macro forces have finally aligned in favor of agency mortgage REITs. Dynex Capital ( DX ) and AGNC Investment ( AGNC ) each reported huge gains in 2025 with massive comprehensive income and book value growth. Additional macro developments, which we will detail later, portend a similarly strong 2026. Despite this strength, I wou Show less Read more
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