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Rebecca B. Sandberg, the Chief Legal Officer of Two Harbors Investment Corp . (NYSE:TWO), a $1.15 billion market cap company currently trading near its 52-week low, recently reported selling a significant portion of her holdings in the company. According to the SEC filing, Sandberg sold 5,025 shares on January 8 at a price of $11.21 each, totaling $56,330. Additionally, on January 10, she sold another 3,785 shares at $11.14 per share, amounting to $42,164. These transactions were executed to cover tax liabilities associated with the vesting of previously granted performance share units and restricted stock units.
Prior to these sales, Sandberg acquired 38,243 restricted stock units and 10,051 shares through the vesting of performance share units, both at no cost, under the company's 2021 Equity Incentive Plan. Following these transactions, she retains ownership of 152,378 shares of common stock in Two Harbors Investment Corp., which currently offers a substantial 15.96% dividend yield. InvestingPro subscribers can access detailed analysis and 8 additional key insights about TWO's financial health and market position.
In other recent news, Two Harbors Investment Corp. has announced the appointment of Travis Swenson as its new Chief Financial Officer, effective May 2025. Swenson, with a rich background in financial leadership roles, will assume the role of Deputy CFO until his official appointment.
Two Harbors also released its Q3 2024 earnings report, demonstrating a steady performance with a book value of $14.93 per share and a comprehensive income of $19.3 million. The company reported a quarterly economic return of 1.3% and a total economic return of 7.0% for the first nine months of the year. The company's investment portfolio totaled $16.4 billion, with $11.4 billion in settled positions.
Furthermore, the company unveiled a new branding strategy, emphasizing its core focus on Mortgage Servicing Rights (MSR) as a key investment strategy. Despite a slight decline in MSR valuation and market volatility, the MSR market remained resilient with stable prices and strong demand from banks and non-banks. With future expectations of a static return estimate between 9.5% to 12.7%, these are recent developments that reflect Two Harbors' strategic focus on MSR.
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