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Robert Rush, Chief Risk Officer at Two Harbors Investment Corp . (NYSE:TWO), recently disclosed the sale of company shares totaling $77,740. The transactions, detailed in a Form 4 filing with the Securities and Exchange Commission, occurred on January 8 and January 10, 2025. Two Harbors, with a market capitalization of $1.15 billion, currently trades near its 52-week low of $11.15, according to InvestingPro data.
On January 8, Rush sold 4,679 shares at a price of $11.22 each, amounting to $52,498. This sale was carried out to meet income tax obligations resulting from the vesting of performance share units. Subsequently, on January 10, he sold an additional 2,268 shares at $11.13 per share, totaling $25,242. This transaction also aimed to cover tax liabilities, this time linked to the vesting of restricted stock units. The company stands out for its impressive 15.96% dividend yield and has maintained dividend payments for 17 consecutive years.
Following these sales, Rush holds 92,347 shares of Two Harbors, a real estate investment trust headquartered in St. Louis Park, Minnesota. Investors should note that the company's next earnings report is scheduled for February 5, 2025, which could provide important insights into its financial performance.
In other recent news, Two Harbors Investment Corp. announced the appointment of Travis Swenson as its new Chief Financial Officer, effective from May 2025. Swenson, formerly CFO at Colliers Mortgage Holdings LLC, brings extensive financial leadership experience to the role. In the meantime, he will serve as Deputy CFO under interim CFO William Dellal.
Two Harbors also reported steady Q3 2024 earnings, with a book value of $14.93 per share and a comprehensive income of $19.3 million. The company's investment portfolio totaled $16.4 billion, and its direct-to-consumer loan origination channel generated $22.4 million in first mortgages.
The company also unveiled a new branding strategy, emphasizing its core focus on Mortgage Servicing Rights (MSR) as a key investment strategy. Despite a noted decline in MSR valuation between 1.5% and 3%, the MSR market showed resilience with stable prices and strong demand. Looking ahead, Two Harbors anticipates a static return estimate between 9.5% to 12.7% and is confident in its long-term strategy.
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