Two Harbors Investments: 4Q Earnings Snapshot

·1 min read

MINNETONKA, Minn. (AP) _ Two Harbors Investments Corp. (TWO) on Tuesday reported fourth-quarter earnings of $211.2 million.

On a per-share basis, the Minnetonka, Minnesota-based company said it had net income of 68 cents. Earnings, adjusted for non-recurring gains, were 30 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.

The real estate investment trust that invests in mortgage-backed securities posted revenue of $72.5 million in the period. Its adjusted revenue was $49.9 million.

For the year, the company reported a loss of $1.63 billion, or $6.24 per share, swinging to a loss in the period. Revenue was reported as $243.8 million.

Two Harbors Investments shares have increased roughly 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.42, a decline of 57% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWO at https://www.zacks.com/ap/TWO