Dynex Capital: REITs, Yield, and the Fed’s Next Move with co-CEO Smriti Popenoe
Description
Katie Perry spoke with Smriti Popenoe, co-CEO, President, and Chief Investment Officer of Dynex Capital, about the company’s success, including surpassing a billion dollars in equity value and maintaining a dividend yield of over 12.5%. Smriti explained the basics of REITs, differentiated between equity and mortgage REITs, and highlighted Dynex's unique position. She also covered potential Fed rate cuts and the importance of yield in portfolios. Additionally, Smriti shared insights on leadership values, the benefits of the co-CEO structure, and the significance of doing good to drive performance.
$DX
00:00 START
02:10 Understanding REITs and Dynex's Role
11:38 Lessons from the 2008 Financial Crisis
15:04 Preparing for Policy Changes
23:48 Capital Raise and Demand
25:47 Impact of Fed Rate Cuts
28:52 Business Philosophy: Do Well and Do Good
32:14 The Co-CEO Dynamic
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This episode was recorded before the 7/31/2024 Federal Open Market Committee.
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