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Nathan Boucher, Executive Vice President and General Counsel at Two Harbors Investment Corp . (NYSE:TWO), recently executed a stock transaction involving the sale of 686 shares of common stock. The shares were sold at a price of $11.14 each, amounting to a total transaction value of $7,642. The $1.15 billion market cap company currently offers a substantial 16% dividend yield and has maintained dividend payments for 17 consecutive years, according to InvestingPro data.
The sale, which took place on January 10, 2025, was conducted to cover income tax liabilities resulting from the vesting of previously granted restricted stock units (RSUs). According to the filing, these trading instructions were pre-established on February 7, 2024, under Rule 10b5-1 of the Securities Exchange Act of 1934. The transaction occurs as Two Harbors trades near its 52-week low, with InvestingPro analysis indicating the stock is currently undervalued.
Following this transaction, Boucher holds 13,811 shares of Two Harbors Investment Corp. The RSUs were part of a grant received under the company's 2021 Equity Incentive Plan, with the underlying common stock set to vest in equal installments over the next three years. With an overall financial health score of FAIR from InvestingPro, investors can access detailed analysis and 8 additional ProTips about Two Harbors' outlook in the comprehensive Pro Research Report.
"In other recent news, Two Harbors Investment Corp. has reported stable Q3 2024 earnings with a book value of $14.93 per share and comprehensive income of $19.3 million. The company's investment portfolio reached $16.4 billion, with its direct-to-consumer loan origination channel generating $22.4 million in first mortgages. In more recent developments, Two Harbors has announced the appointment of Travis Swenson as its new Chief Financial Officer, effective May 2025. Swenson, who brings significant experience from his time at Colliers Mortgage Holdings LLC and WeWork (OTC:WEWKQ), Inc., will initially serve as Deputy CFO under interim CFO William Dellal. Two Harbors also unveiled a new branding strategy, emphasizing its core focus on Mortgage Servicing Rights (MSR) as a key investment strategy. Analysts anticipate a static return estimate between 9.5% to 12.7% for the company. Despite a decline in MSR valuation between 1.5% and 3%, the MSR market has shown resilience with stable prices and strong demand from banks and non-banks."
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