Robert Rush, Chief Risk Officer at Two Harbors Investment Corp . (NYSE:TWO), has sold 2,868 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $11.25 each, totaling $32,265. Following this transaction, Rush holds 89,479 shares in the company. The real estate investment trust, currently valued at $1.2 billion, offers investors a substantial 15.87% dividend yield. According to InvestingPro analysis, the stock is trading near its Fair Value, with the next earnings report due in 21 days.
The sale was conducted to satisfy tax liabilities associated with the vesting of previously granted restricted stock units. InvestingPro subscribers can access additional insights through our comprehensive Pro Research Report, which reveals 8 more key tips about Two Harbors' financial health and market position. This transaction was executed under a pre-established trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act.
In other recent news, Two Harbors Investment Corp. has appointed Travis Swenson as its new Chief Financial Officer, effective May 2025. Swenson, previously serving as Chief Financial Officer at Colliers Mortgage Holdings LLC, will assume the role of Deputy Chief Financial Officer under the interim CFO until his official appointment. The company's Q3 2024 earnings report revealed a steady performance, with a book value of $14.93 per share, a comprehensive income of $19.3 million, and a total economic return of 7.0% for the first nine months of the year.
Two Harbors also introduced 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 and market volatility, the MSR market remained resilient with stable prices and strong demand. Two Harbors anticipates a static return estimate between 9.5% to 12.7% and is confident in its long-term strategy.
In addition to these developments, the company's direct-to-consumer loan origination channel generated $22.4 million in first mortgages. The company's proactive management approach and strategic initiatives, including the direct-to-consumer loan origination channel, are set to enhance shareholder returns and position Two Harbors for future growth. These are recent developments, and they provide a snapshot of the company's current financial and strategic positioning.
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