Two Harbors Investment Corp (NYSE:TWO) stock decline by 3.49%


Dallas, Texas 08/08/2013 (Financialstrend) Two Harbors Investment Corp (NYSE:TWO) had recently announced the second quarter financial performance results for the fiscal year 2013, in which the core earnings for the company was reported to be at $78.1 million or at 21 cents per basic and diluted share. The real estate investment trust with primary focus on investments in residential mortgage loans, residential mortgage backed securities, mortgage servicing rights and other related financial assets had reported that the second quarter of the fiscal year proved challenging to the company owing to the increase in interest rates and other related factors which were fundamental to the mortgage market.

Two Harbors Investment Corp (NYSE:TWO) had during this quarter which ended on June 30, 2013 had made repurchase of its common stock of one million shares at a fixed price of $10.50 per share, which was observed to be accretive to the book value of the company at that time. The company had further incurred a comprehensive loss of $146.1 million or at $0.40 per share for the second quarter of this fiscal year.

Two Harbors Investment Corp (NYSE:TWO) had lost by 3.49% on Wednesday to close the session with a price of $9.67 per share. The stock had been moving throughout the day with lowest price of $9.58 per share and highest price of $9.82 per share. The company’s 52 week low price is presently at $9.50 and 52 week high price is at $14.02 per share. There had been a trading volume of 8.78 million shares for the company on Wednesday and the average level of trading volume is at 6.29 million shares per day. The stock presently has 365.25 million shares in the market and the institutional holding is around 61% of the total capital. The market cap value of the company is at $3.53 billion.