Two Harbors reports Q2 book value $15.19, flat economic return; dividend $0.45

TWO HARBORS INVESTMENT CORP.

2024-Q2 EPS reported $2.16

Comprehensive income of $0.5M ($0.00 EPS); GAAP net income $44.6M ($0.43 EPS).
Book value per share fell to $15.19 from $15.64 in Q1; H1 total economic return 5.8%.
Repurchased $10M of convertible notes; increased ATM offering by 11.2M shares.
MSR portfolio: sold $6.4B UPB, settled $327.8M flow acquisitions; post-Q2 bulk buy of $1.6B UPB.
Debt-to-equity ratio 4.5x; economic debt-to-equity 6.8x; cost of financing 4.76% including hedges.

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