secwatch.observer — SEC 8-K summary
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Issuer:     TWO HARBORS INVESTMENT CORP. (TWO)
CIK:        0001465740
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001465740-23-000082
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Two Harbors Q1 2023 comprehensive loss of $63.2M; book value falls to $16.48
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- Comprehensive loss of $63.2M or $(0.69) per diluted share; GAAP net loss of $189.2M ($2.05).
- Book value per share fell 7% to $16.48 from $17.72; quarterly economic return of (3.6)%.
- Earnings available for distribution (EAD) of $8.3M ($0.09); income ex-market changes (IXM) of $0.59 per share.
- Issued 10M common shares for net proceeds ~$175.6M to fund MSR acquisitions; acquired $10.7B UPB of MSR.
- Net spread narrowed to 0.52% (Q4'22: 0.97%) as portfolio yield rose to 5.09% but cost of financing rose to 4.57%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1465740/000146574023000082/0001465740-23-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1465740/000146574023000082/two-20230501.htm
  HTML page:      https://secwatch.observer/filing/0001465740-23-000082

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