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Tag: TWO stock price

  • Here is why Two Harbors Investment Corp (TWO) stock plummeted in the after-hours on Monday?

    Here is why Two Harbors Investment Corp (TWO) stock plummeted in the after-hours on Monday?

    Two Harbors Investment Corp. (TWO) shares lost 10.23% in after-hours on Monday, July 12, 2021, and closed the day at $6.58 per share. Earlier in the morning session on Monday, TWO’s stock remained unchanged and closed the session at $7.33. TWO shares have risen 49.29% over the last 12 months, and they have moved down 1.74% in the past week. Over the past three months, the stock has lost 1.21%, while over the past six months, it has declined 13.64%.

    Let’s have a look at its recent developments.

    Public Offering of Common Stock

    On July 12, 2021, Two Harbors Investment Corp commenced an underwritten public offering of 40,000,000 shares of its common stock. The underwriters will get a 30-day option to purchase up to an additional 6,000,000 shares of its common stock. The net proceeds from the offering will be used to purchase its target assets, including residential mortgage-backed securities, mortgage servicing rights, and other financial assets.

    New appointment

    On June 30, 2021, Two Harbors Investment Corp announced that William Greenberg, the company’s President, and Chief Executive Officer, has been appointed to also serve as the company’s Chief Investment Officer.

    Inauguration onS&P SmallCap 600

    Two Harbors Investment Corp was added to the S&P SmallCap 600 index, effective before the opening of trading on Tuesday, June 22, 2021. The S&P SmallCap 600 seeks to measure the small-cap segment of the U.S. equity market and consists of 600 domestic stocks selected by the Standard & Poor’s Index Committee based on several factors, including financial performance and market capitalization.

    Common and Preferred Stock Dividends announcement

    On June 17, 2021, Two Harbors Investment Corp declared a dividend of $0.17 per share of common stock for the second quarter of 2021. The second-quarter dividend is payable on July 29, 2021, to common stockholders of record at the close of business on June 29, 2021.

    Two Harbors also declared the following preferred stock dividends:

    • a dividend of $0.50781 per share of the 8.125% Series A Cumulative Redeemable Preferred Stock;
    • a dividend of $0.47656 per share of the 7.625% Series B Cumulative Redeemable Preferred Stock; and
    • a dividend of $0.45313 per share of the 7.25% Series C Cumulative Redeemable Preferred Stock.

    The Series A, Series B, and Series C preferred dividends are payable on July 27, 2021, to the applicable preferred stockholders of record at the close of business on July 12, 2021.

    Conclusion

    The TWO stock declined in the after-hours after the company announced the public offering of its common stock so at the moment we are not sure how TWO stock will perform on Tuesday. We hope that it will return towards positivity.

  • Why is Two Harbors Investment Corp. (TWO) stock rising in Pre-Market today?

    Why is Two Harbors Investment Corp. (TWO) stock rising in Pre-Market today?

    Shares of the Two Harbors Investment Corp. (TWO) stock were rising in the Pre-Market trading session today on June 17, 2021, following the news that Cardtronics plc (NASD: CATM) will be replaced by Two Harbors Investment Corp in the S&P SmallCap 600 before the opening of the trading session on Tuesday, June 22, 2021. TWO stock prices saw a push of 4.53% to reach $7.84 a share as of this writing. The stock went up by 0.54% at the previous closing. Let’s deep dive to explore more of it.

    What’s Happening?

    Two Harbors Investment Corp, founded in 2009, is working as an agency as well as a real estate investment trust(REIT). It seems that the TWO stock is continuing the previously built rising momentum in the stock market. The replacement of Two Harbors Investment Corp with CATM in the S&P SmallCap 600 is the key trigger behind this rising stock price. As NCR Corp. (NYSE: NCR) has already signed an acquisition agreement with Cardtronics, the acquisition is expected to be complete soon after customary closing conditions.

    First Quarter 2021 Financial Results:

    Back to the previous month on May 5, 2021, TWO stocks did announce the first quarter 2021 financial results according to which.

    • Two Harbors Investment Corp recorded a book value of $7.29 per common share which represents a 2.2% quarter-based return on book value.
    • Roughly $48.5 million income was generated in the recently reported quarter which represents a 9.3% annualized return on average common equity.
    • Core earnings for the TWO stock were $45.8 million in the first three months of 2021.
    • TWO stock announced a $0.17 per share dividend in the first quarter of 2021.

    Efforts for Optimized liability and Capital Structure:

    • Two harbors issued 5-year convertible seniors notes worth $287.5 million.
    • $143.7 million principal amount of convertible senior notes due 2022 had been repurchased and retired by Two Harbors Investment Corp.
    • Redemption of $75 million and $200 million series D and E respectively preferred shares had been completed by Two stock.
    • The funding capacity of Two Harbors Investment Corp had been expanded via the closing of a $300 million MSR asset financing facility.

    Conclusion:

    TWO stock is hot among investors as far as market sentiment is concerned but every rise is followed by the fall and vice versa as the stock market is unpredictable. So, investors need to know the nitty-gritty of the stock before making any decision.