Shares of Two Harbors Investment (NYSE: TWO) fell 12.6% today after the company reported earnings results for the first quarter of the year.
Two Harbors, a mortgage servicing real estate investment trust (REIT), reported a nearly $223 million profit in the first quarter, or $0.81 earnings per share (EPS), up from $192.2 million in the first quarter of 2020.
Core earnings of $0.17 EPS, however, which excludes realized and unrealized gains and losses, declined from the first quarter of 2020 and missed analysts' expectations. The book value, or equity, of the company ended the quarter at $7.29 per share, down 2.2% from the previous quarter.
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Why Shares of Two Harbors Fell Today