TWO Stock Recent News

We take a look at the action in preferreds and baby bonds through the fourth week of August and highlight some of the key themes we are watching. Preferreds credit spreads are near 5-year lows with yields on a downward trajectory as well. American Equity Life's ANG.PR.B preferred is likely to be redeemed soon, offering limited downside and extra accrued interest for holders.

As noted by CEO Brian Sedrish, “As market activity rebounds, we're seeing more transaction volume and increased demand for financing among borrowers seeking capital for both acquisitions and refinancings.

NEW YORK--(BUSINESS WIRE)--TWO Provides Business Update: Announces Resolution of Litigation and Third Quarter 2025 Common and Preferred Stock Dividends.

Two Harbors suffered a major legal loss in May, which created a near-term uncertainty due to a $199 million liability from its manager dispute. Dividend coverage remains weak, with recurring earnings unable to fully support payouts; further cuts are possible unless earnings rebound or funding costs drop. Core portfolio performance is stable, with MSR and Agency MBS hedging working, but high operating costs and expensive new debt weigh on returns.

TWO reported a severe 17.2% BV decrease, underperforming my expectations, mainly due to a negative legal ruling and hedging decisions. Core earnings/EAD modestly outperformed, driven by lower net interest expense, higher servicing income, and effective hedging income. Despite the BV drop, I maintain a 4.5 risk/performance rating, as most negative impacts were anticipated and already reflected in my prior downgrade.

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Two Harbors Investment Corp. (NYSE:TWO ) Q2 2025 Earnings Conference Call July 29, 2025 9:00 AM ET Company Participants Margaret Field Karr - Head of Investor Relations Nicholas Letica - VP & Chief Investment Officer William Dellal - VP & Chief Financial Officer William Ross Greenberg - President & CEO Conference Call Participants Bose Thomas George - Keefe, Bruyette, & Woods, Inc., Research Division Douglas Michael Harter - UBS Investment Bank, Research Division Harsh Hemnani - Green Street Advisors, LLC, Research Division Jason Michael Stewart - Janney Montgomery Scott LLC, Research Division Jason Price Weaver - JonesTrading Institutional Services, LLC, Research Division Kenneth S. Lee - RBC Capital Markets, Research Division Richard Barry Shane - JPMorgan Chase & Co, Research Division Trevor John Cranston - Citizens JMP Securities, LLC, Research Division Operator Good morning.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

NEW YORK--(BUSINESS WIRE)---- $TWO #Earnings--TWO Reports Second Quarter 2025 Financial Results.

NEW YORK--(BUSINESS WIRE)---- $TWO #TWO--TWO Announces Earnings Release and Conference Call for Second Quarter 2025 Financial Results.