1. DX-C is a top pick among mortgage REIT preferred shares, offering lower risk due to Dynex Capital's strong management and high common equity to preferred liquidation ratio. 2. The current stripped price of DX-C is just over $25.00, with a yield of 6.89%, but it will switch to a floating rate in 2025. 3. Investors should consider DX-C for its relatively low-risk profile and potential for higher yields post-2025, despite the current modest yield.