Gold prices steady ahead of Fed decision; weekly weakness noted
Jillian Halm, the Chief Accounting Officer of Two Harbors Investment Corp . (NYSE:TWO), recently executed a series of stock transactions. According to a recent SEC filing, Halm sold 481 shares of common stock on January 8, 2025, at a weighted average price of $11.3098 per share. This sale generated a total of approximately $5,440. The transaction comes as Two Harbors, currently valued at $1.15 billion, trades near its 52-week low of $11.15. InvestingPro analysis indicates the stock is slightly undervalued, with a notable dividend yield of 15.96%.
Additionally, Halm acquired 8,741 restricted stock units (RSUs) on January 7, 2025, as part of the company's 2021 Equity Incentive Plan. These RSUs were granted at no cost and are scheduled to vest in equal installments over the next three years, starting January 2026. Another acquisition of 481 shares was made in connection with the vesting of performance share units (PSUs) previously granted under the same plan. With the company's next earnings report scheduled for February 5, 2025, subscribers to InvestingPro can access comprehensive analysis and additional insights through the exclusive Pro Research Report, available for over 1,400 US stocks.
The reported sale was conducted under a pre-arranged trading plan, in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
In other recent news, Two Harbors Investment Corp. has appointed Travis Swenson as the new Chief Financial Officer, effective May 2025. Swenson, who brings a wealth of experience from his previous roles at Colliers Mortgage Holdings LLC, WeWork (OTC:WEWKQ), Inc., CBRE (NYSE:CBRE), Inc., and Deloitte & Touche LLP, will assume the role of Deputy CFO until his official appointment.
In financial highlights, Two Harbors reported a book value of $14.93 per share and a comprehensive income of $19.3 million in its Q3 2024 earnings report. The company's investment portfolio totaled $16.4 billion, with $11.4 billion in settled positions, and its direct-to-consumer loan origination channel generated $22.4 million in first mortgages. Two Harbors anticipates a static return estimate between 9.5% to 12.7% and expressed confidence in its long-term strategy, focusing on the stability of low mortgage rate MSRs.
The company also introduced a new branding strategy, emphasizing its core focus on Mortgage Servicing Rights (MSR) as a key investment strategy. Despite a decline in MSR valuation between 1.5% and 3%, and market volatility leading to wider mortgage spreads, the MSR market remained resilient with stable prices and strong demand from banks and non-banks. Two Harbors' strategic initiatives, including the direct-to-consumer loan origination channel, are set to enhance shareholder returns and position the company for future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.