TWO - Two Harbors Investment Q4 earnings beat as net interest income falls
Two Harbors Investment (NYSE:TWO) Q4 earnings beat consensus estimate and fell from Q3 as net interest income fell. Meanwhile, the company's CEO said it's well-positioned to deploy capital into "a more constructive investing environment" as the Federal Reserve is poised to lift rates. In addition, he's optimistic about the company's paired Agency plus mortgage servicing rights strategy. Q4 earnings available for distribution was $0.22 per share vs. $0.21 consensus and $0.24 in Q3. "Our portfolio performance was impacted by spread widening and higher volatility during the fourth quarter. While the investment environment for RMBS (residential mortgage-backed securities) was challenging, we capitalized on opportunities to purchase MSR at attractive levels," said CEO and Chief Investment Officer Bill Greenberg. Two Harbors (TWO) stock slips 0.8% in after-hours trading. Total portfolio of $13.6BB in Q4 vs. $17.9B in Q3; annualized net yield for aggregate portfolio during Q4 was 2.99% vs. 2.55% in Q3. Book value
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Two Harbors Investment Q4 earnings beat as net interest income falls