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Nicholas Letica, the Chief Investment Officer of Two Harbors Investment Corp . (NYSE:TWO), a $1.15 billion market cap company currently trading near its 52-week low, recently reported the sale of 9,996 shares of the company's common stock. The transactions, which took place on January 8 and January 10, were executed at prices of $11.21 and $11.13 per share, respectively. The total value of these sales amounted to $111,571.
The sales were conducted to cover income tax liabilities related to the vesting of performance share units and restricted stock units previously granted to Letica. These transactions were carried out under pre-established trading instructions in accordance with Rule 10b5-1. Notably, the company maintains a significant 15.96% dividend yield and has sustained dividend payments for 17 consecutive years.
Following these transactions, Letica holds 174,672 shares of Two Harbors Investment Corp. common stock. According to InvestingPro analysis, the stock currently appears fairly valued, with analysts expecting a return to profitability this year.
"In other recent news, Two Harbors Investment Corp. announced stable Q3 2024 earnings, reporting 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. In other developments, Travis Swenson has been appointed as the new Chief Financial Officer, set to take office in May 2025. Swenson, formerly CFO at Colliers Mortgage Holdings LLC, will assume his role under interim CFO William Dellal until his official commencement. In addition, Two Harbors unveiled a new branding strategy, emphasizing its focus on Mortgage Servicing Rights (MSR) as a key investment strategy. Despite a decline in MSR valuation between 1.5% and 3%, the MSR market remains resilient. Looking ahead, Two Harbors anticipates a static return estimate between 9.5% to 12.7%, according to the company's recent analyst notes."
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