Dynex Capital 三季度每股账面价值 10.91 美元远逊预期（共识 11.72 美元），季度经济回报 -11.5%，盘中股价下挫约 3.6%

Dynex Capital ( DX ) stock slumped 3.7% in Monday morning trading after its book value per share at the end of Q3 dropped significantly more than analysts expected. That led to a total economic return of -$1.48 per common share, or -11.5% of beginning book value, comprised of dividends declared of $0.51 per share and a decrease in book value of $1.99 per share. By comparison, total economic return in the prior quarter was $0.81 per share, or 6.4%. Book value per common share declined to $10.91 at Sept. 30, 2026 (S&P CapIQ consensus of $11.72) from $12.90 at June 30. "Late-quarter volatility and wider mortgage spreads reduced our reported book value, and that repricing has created an attractive forward return opportunity," said Smriti Laxman Popenoe, co-CEO and president. "Importantly, the mortgage market remains fundamentally solid, technical conditions are strong, and financing remains stable. We are managing for the long term, prepared for a range of market scenarios, and positioned to capitalize on opportunities as they develop." Q3 EPS available for distribution of $0.38, topping the average analyst estimate of $0.37, rose from $0.36 in Q2 and $0.25 in last year’s 3Q Economic net interest income of $101.6M, missing the $113.0M S&P CapIQ consensus, climbed from $94.3M in Q2. Economic net interest spread improved to 1.18% in Q3 from 1.17% in the previous quarter. Total operating expenses fell to $12.6M, lower than the $16.6M consensus, from $16.2M in Q2. Net gain on derivatives was $1.04B in Q3, compared with a net gain of $128.8M in the prior quarter. The company’s total investment portfolio increased 3% to $28.3B as of Sept. 30, 2026, vs. $27.6B as of June 30. During the quarter, Dynex ( DX ) raised $384M of capital, net of commissions, including $268M in equity capital through at-the-market stock issuances and $116M through the issuance of 9.375% series D fixed-rate cumulative redeemable preferred stock.