PSK - Dynex: The 7.1%-Yielding Preferred Benefits From A More Nimble Approach

• We take a look at the Dynex Capital Series C preferred after a strong Q1 release.
• The company's ability to dial down risk in an unfavorable market environment distinguishes it from its other mortgage REIT counterparts.
• We find the stock's 7.1% yield attractive with potential yield upside both in case of redemption or not.
• DX.PC also maintains a relatively attractive portfolio risk profile with low leverage and high equity coverage as well as a relatively low duration.

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