ST. LOUIS PARK, MN—Alecia Hanson, the Chief Administrative Officer of Two Harbors Investment Corp . (NYSE:), a $1.15 billion market cap company currently trading near its 52-week low, recently executed a series of stock transactions involving the company’s common shares. According to a filing with the Securities and Exchange Commission, Hanson sold a total of 3,183 shares across two separate transactions. InvestingPro data shows the company maintains an impressive 16% dividend yield and has consistently paid dividends for 17 consecutive years.
On January 8, Hanson sold 1,663 shares at a price of $11.21 each, totaling $18,642. This transaction was conducted to satisfy income tax liabilities related to the vesting of performance share units previously granted to her. A subsequent sale on January 10 involved 1,520 shares at $11.14 per share, amounting to $16,932. This sale was also aimed at covering tax liabilities, this time linked to the vesting of restricted stock units. Based on InvestingPro‘s Fair Value analysis, the stock currently appears fairly valued.
These transactions were made under pre-arranged trading plans set in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Following these transactions, Hanson holds 45,719 shares of Two Harbors Investment Corp. common stock. While the company has faced challenges, analysts tracked by InvestingPro expect a return to profitability this year, with earnings forecasted at $0.59 per share.
In other recent news, Two Harbors Investment Corp. has announced the appointment of Travis Swenson as its new Chief Financial Officer, set to take office in May 2025. Swenson, previously the CFO at Colliers Mortgage Holdings LLC, will initially serve as Deputy CFO under interim CFO William Dellal. In addition, Two Harbors has reported steady Q3 2024 earnings, with a book value of $14.93 per share, comprehensive income of $19.3 million, 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, and its direct-to-consumer loan origination channel generated $22.4 million in first mortgages. Two Harbors also 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%, and market volatility leading to wider mortgage spreads, the company anticipates a static return estimate between 9.5% to 12.7%.
These recent developments indicate the company’s strategic initiatives and proactive management approach are set to enhance shareholder returns and position Two Harbors for future growth. The company’s long-term strategy focuses on the stability of low mortgage rate MSRs, with the MSR market remaining resilient amid market volatility.
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