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Two Harbors Investment Corp. (NYSE: TWO) is a real estate investment trust (REIT) headquartered in New York, NY. The company specializes in investing in and managing a diversified portfolio of residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights (MSRs), and commercial real estate.
Two Harbors is externally managed by PRCM Advisers LLC, a wholly-owned subsidiary of Pine River Capital Management L.P. This external management arrangement provides the company access to a wealth of expertise and strategic guidance.
The company's investment portfolio is primarily focused on agency RMBS, which are securities backed by government-sponsored enterprises such as Fannie Mae and Freddie Mac, and non-agency RMBS, which are privately issued and not guaranteed by the government. This balanced approach allows for diversification and risk management.
Revenue for Two Harbors is predominantly derived from interest income on its investments. Available-for-sale securities contribute significantly to this income, supplemented by residential mortgage loans held for investment within securitization trusts. This income model allows the company to maintain a steady revenue stream while managing the complexities of the real estate and mortgage markets.
Recent Achievements and Current Projects:
- Strategic acquisitions: Two Harbors has been actively acquiring additional RMBS and MSRs to strengthen its portfolio.
- Technological advancements: The company has implemented advanced analytics and technology to optimize investment strategies and risk management.
- Partnerships: Collaborations with key industry players to enhance market presence and investment capabilities.
With a commitment to delivering strong returns for its shareholders, Two Harbors Investment Corp. continues to adapt and evolve in the ever-changing landscape of the real estate investment market. For more information, visit www.twoharborsinvestment.com.
Two Harbors Investment Corp. (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, has announced its schedule for releasing second quarter 2024 financial results. The company will release its financial results on July 30, 2024 after market close, followed by a conference call and live webcast on July 31, 2024 at 9:00 a.m. ET. Investors can access the webcast through the News & Events section of the company's website, with a replay available approximately four hours after the live call ends. For teleconference participation, interested parties can call toll-free (888) 394-8218 about 10 minutes before the start time, using the Conference Code 1669717.
A group of Voxtur shareholders, including former chairman Nicholas H. Smith, is pushing for a major overhaul of the company's board at the upcoming Annual General and Special Meeting (AGSM) scheduled for June 28, 2024. The Voxtur Shareholders for Accountability, holding about 19% of the company's shares, are advocating for six new board members due to significant financial declines under the current management. The company has faced losses in each of the past five years, including a Q4 2023 adjusted EBITDA loss of C$3.9 million and a Q1 2024 loss of C$665,000. The group's nominees include seasoned professionals like Alan P. Qureshi, who is proposed as the new CEO. They aim to implement a long-term strategic plan, streamline expenses, and enhance transparency in financial reporting. The current board is criticized for lacking a coherent strategic plan, experiencing high turnover, and incurring excessive costs.
Two Harbors Investment Corp. (NYSE: TWO) announced a dividend of $0.45 per share of common stock for the second quarter of 2024, payable on July 29, 2024, to common stockholders of record on July 5, 2024. The dividend reflects several factors including earnings, portfolio return potential, and market environment. Additionally, preferred stock dividends have been declared: $0.50781 per share for the 8.125% Series A, $0.47656 per share for the 7.625% Series B, and $0.45313 per share for the 7.25% Series C, all payable on July 29, 2024, to preferred stockholders of record on July 12, 2024.
Two Harbors Investment Corp. (NYSE: TWO), a real estate investment trust specializing in mortgage servicing rights (MSR) and residential mortgage-backed securities (RMBS), announced that its President and CEO, Bill Greenberg, will present at the 2024 KBW Virtual Real Estate Finance & Technology Conference on May 22, 2024. Greenberg will be part of the Mortgage Servicing panel at 1:00 pm ET, with the presentation available via webcast on the company's website.
Two Harbors Investment Corp. (NYSE: TWO) has announced details regarding its 2024 Annual Meeting of Stockholders. The virtual meeting will take place on May 15, 2024, at 10:00 a.m. Eastern Time. Stockholders as of the close of business on March 20, 2024, are eligible to participate and vote. They can attend and submit questions online using a 16-digit control number. A replay of the meeting will be available for one year on the same website. Two Harbors focuses on investing in mortgage servicing rights and residential mortgage-backed securities. Further information can be found on the SEC's website or by contacting the company directly.
Two Harbors Investment Corp. (NYSE: TWO) reported its financial results for Q1 2024, showcasing a book value of $15.64 per common share and a 5.8% quarterly economic return on book value. The company generated Comprehensive Income of $89.4 million, repurchased preferred stocks, and settled $3.1 billion of MSR. The company's MSR portfolio positions it well for higher interest rates, with low prepayment sensitivity. The market's high rate volatility contrasts with wide nominal spreads for Agency RMBS, offering levered returns. The company's portfolio includes $11.3 billion of Agency RMBS and MSR. Two Harbors Investment Corp. will discuss its financial results in a conference call on April 30, 2024.
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