Two Harbors Investment Corp. (TWO) shares lost 10.23% in after-hours on Monday, July 12, 2021, and closed the day at $6.58 per share. Earlier in the morning session on Monday, TWO’s stock remained unchanged and closed the session at $7.33. TWO shares have risen 49.29% over the last 12 months, and they have moved down 1.74% in the past week. Over the past three months, the stock has lost 1.21%, while over the past six months, it has declined 13.64%.

Let’s have a look at its recent developments.

Public Offering of Common Stock

On July 12, 2021, Two Harbors Investment Corp commenced an underwritten public offering of 40,000,000 shares of its common stock. The underwriters will get a 30-day option to purchase up to an additional 6,000,000 shares of its common stock. The net proceeds from the offering will be used to purchase its target assets, including residential mortgage-backed securities, mortgage servicing rights, and other financial assets.

New appointment

On June 30, 2021, Two Harbors Investment Corp announced that William Greenberg, the company’s President, and Chief Executive Officer, has been appointed to also serve as the company’s Chief Investment Officer.

Inauguration onS&P SmallCap 600

Two Harbors Investment Corp was added to the S&P SmallCap 600 index, effective before the opening of trading on Tuesday, June 22, 2021. The S&P SmallCap 600 seeks to measure the small-cap segment of the U.S. equity market and consists of 600 domestic stocks selected by the Standard & Poor’s Index Committee based on several factors, including financial performance and market capitalization.

Common and Preferred Stock Dividends announcement

On June 17, 2021, Two Harbors Investment Corp declared a dividend of $0.17 per share of common stock for the second quarter of 2021. The second-quarter dividend is payable on July 29, 2021, to common stockholders of record at the close of business on June 29, 2021.

Two Harbors also declared the following preferred stock dividends:

• a dividend of $0.50781 per share of the 8.125% Series A Cumulative Redeemable Preferred Stock;
• a dividend of $0.47656 per share of the 7.625% Series B Cumulative Redeemable Preferred Stock; and
• a dividend of $0.45313 per share of the 7.25% Series C Cumulative Redeemable Preferred Stock.

The Series A, Series B, and Series C preferred dividends are payable on July 27, 2021, to the applicable preferred stockholders of record at the close of business on July 12, 2021.

Conclusion

The TWO stock declined in the after-hours after the company announced the public offering of its common stock so at the moment we are not sure how TWO stock will perform on Tuesday. We hope that it will return towards positivity.