mREIT Dynex Capital Releases New Investor Presentation

mREIT Dynex Capital (NYSE:DX) has released a new investor presentation.

We mention this only because DX has 2 high yield preferred share issues outstanding which can be checked here.

The new presentation can be found here.

We are not buying perpetual preferreds much now, but are watching mREIT high yield preferred issues for future opportunities as the rate tightening cycle progresses.

5 thoughts on “mREIT Dynex Capital Releases New Investor Presentation”

  1. I bought Dynex Preferred A back in 2014 when it dropped below Par. At this point I have had over $10 in coupons on a par $25. The company has made money every quarter going back to 2008 (probably longer, I just don’t have any more data). Sometimes perpetuals can be a good investment. DX-A is one of my all time favorites.

    1. DX-A can be called any time (so can B, but below par, and presumably higher coupon would be called first), so some risk of (small) loss of capital. I bought small amount <24 in 2015, but sold half and put it into B for that reason.
      Common pays ~ 12% yield, so it would seem there is plenty of cushion for preferreds.

      1. Agreed Carlmudgeon. I am watching the mREIT preferreds for a possible entry maybe in January or so.

    2. Hi Andrew–yes on a longer term basis they are fine–those large coupons add up.

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