- Book value was $10.35 per diluted common share, representing a 1.5% (1) return on book value, after accounting for a dividend of $0.28 per share.
- Delivered Comprehensive Income of $54.0 million, or $0.15 per diluted weighted average common share. Comprehensive Income for the nine months ended September 30, 2013 of $155.9 million, a return on average equity of 5.4%, or $0.45 per diluted weighted average common share.
- Reported Core Earnings of $67.7 million, or $0.19 per diluted weighted average common share.
- Generated an aggregate yield of 4.0% in the RMBS portfolio. Yields driven primarily by non-Agency performance of 9.0%.
- The company made progress towards allocating capital to mortgage servicing rights (MSRs) through a two-year flow sale agreement with PHH Mortgage Corporation to acquire MSRs on newly originated residential mortgage loans and advanced negotiations with other MSR sellers that may result in additional investments in the near-term.
- Completed Agate Bay Mortgage Trust 2013-1, a $434 million securitization of residential mortgage loans.
- Repurchased 1.45 million shares of stock at an average price of $9.23 per share, which was accretive to book value.
Two Harbors Investment Corp. (NYSE: TWO; NYSE MKT: TWO.WS), a real estate investment trust that invests in residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights (MSRs) and other financial assets, today announced its financial results for the quarter ended September 30, 2013. Highlights