Two Harbors Investment Corp. ( (TWO) ) has realeased its Q3 earnings. Here is a breakdown of the information Two Harbors Investment Corp. presented to its investors.
Two Harbors Investment Corp. is a real estate investment trust (REIT) specializing in mortgage servicing rights (MSR) and residential mortgage-backed securities, providing a unique investment portfolio with reduced exposure to mortgage spreads.
Two Harbors Investment Corp. reported its financial results for the third quarter of 2024, highlighting positive returns driven by mortgage performance and stable MSR spreads. The company declared a quarterly dividend of $0.45 per share, reflecting a 1.3% economic return on book value, and marked a 7.0% total economic return on book value for the year so far.
The company generated comprehensive income of $19.3 million, or $0.18 per share, despite a GAAP net loss of $250.3 million. Two Harbors settled $3.3 billion in MSR acquisitions and completed its first full quarter of direct-to-consumer origination activities, funding a significant amount in both first and second lien loans. The portfolio’s performance was supported by strategic adjustments in TBA coupons in response to market changes.
Looking forward, Two Harbors remains focused on enhancing its investment strategy, leveraging its MSR asset and exploring revenue and hedging opportunities to deliver attractive results across diverse market conditions. The company’s management expresses confidence in the continued strong demand for MSR and the potential for attractive MSR acquisitions in the future.
