TWO - Two Harbors stock slips after Q1 earnings miss as markets reprice for Fed pivot

Two Harbors Investment (NYSE:TWO) Q1 earnings missed the consensus estimate on Wednesday after repricing across the rates markets as the Federal Reserve started increasing rates and prepared for quantitative tightening made for a difficult scenario for the mortgage REIT. "Our portfolio performance in this challenging environment highlights the benefits of the paired Agency + MSR strategy and our active portfolio management," said Two Harbors (TWO) President, CEO and Chief Investment Officer Bill Greenberg. "After the significant spread widening in the quarter, we are poised to allocate capital to RMBS at fundamentally attractive valuations." Q1 earnings available for distribution was $0.18 per share, trailed the  $0.20 consensus, and fell from $0.22 in Q4 2021. Two Harbors (TWO) stock is dropping 3.1% in Wednesday after-hours trading. Total portfolio of $14.8B in Q1 vs. $13.6B in Q4; annualized net yield for aggregate portfolio during Q1 was % vs. 2.99% in the prior quarter. Book value

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Two Harbors stock slips after Q1 earnings miss as markets reprice for Fed pivot