Two Harbors Investment Corp. Announces Sale of Portfolio of Non-Agency Securities
Two Harbors Investment Corp (TWO)
Last two harbors investment corp earnings: 2/5 04:17 pm
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US:NYSE Investor Relations:
investor.twoharborsinvestment.com
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO) (the “Company”), a leading hybrid mortgage real estate investment trust (REIT), today announced that in an effort to prudently manage our portfolio through unprecedented market volatility and preserve long-term stockholder value, the Company has sold substantially all of its portfolio of non-Agency securities, subject to customary settlement procedures.We believe the benefits of this sale include:Reducing the balances under our repurchase facilities by approximately $2.0 billion.Eliminating the risk of margin calls associated with the non-Agency residential mortgage-backed securities (“RMBS”) portfolio, which have been unusually significant in size in this volatile market environment.Removing the potential risk of not being able to roll the funding on non-Agency RMBS as they become due.After giving effect to the sale, our portfolio consists primarily of Agency RMBS and mortgage servicing rights. We estimate that:O
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- Two Harbors Investment Corp. (NYSE: TWO) had its price target lowered by analysts at JPMorgan Chase & Co. from $13.50 to $11.50. They now have a "neutral" rating on the stock.MarketBeat
TWO
Earnings
- 10/28/24 - Miss
TWO
Sec Filings
- 11/12/24 - Form 8-K
- 10/29/24 - Form 10-Q
- 10/28/24 - Form 8-K
- TWO's page on the SEC website