Overview

* Dynex Capital ( DX ) Q3 net income at $1.09 per share-basic vs a loss of $0.14 in Q2

* Book value per common share increased to $12.67, driven by asset appreciation

* Company raised $254 mln in equity capital through ATM stock issuances

Result Drivers

* ASSET APPRECIATION - Increase in book value driven by asset appreciation from decline in 10-year U.S. Treasury rate and tightening mortgage spreads

* CAPITAL RAISING - Raised $254 mln through ATM stock issuances, supporting investment activities

* HIGHER-YIELDING INVESTMENTS - Improvement in net interest income due to higher-yielding investments and steady financing costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $1.08

diluted

Q3 Net $150.38

Income mln

Q3 Net $30.61

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Dynex Capital Inc ( DX ) is $14.00, about 4.4% above its October 17 closing price of $13.38

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)