Preferred Stock Channel
Two Harbors Investment Corp | 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (TWO.PRC)

Prospectus excerpt:  We are offering 11,000,000 shares of our 7.25% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share, or the Series C Preferred Stock. Holders of Series C Preferred Stock will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, January 27, 2025 at a fixed rate equal to 7.25% per annum of the $25.00 per share liquidation preference (equivalent to $1.8125 per annum per share) and (ii) from and including January 27, 2025, at a floating rate equal to three-month LIBOR plus a spread of 5.011% per annum. Dividends will be payable quarterly in arrears on the 27th day of April, July, October and January of each year, when and as declared, beginning on January 27, 2018 (short first dividend period). Dividends will accumulate and be cumulative from, and including, the date of original issuance of the Series C Preferred Stock.

Full Prospectus PDF », TWO Page »

Alternate symbology:TWO-C, TWO-PC, TWOprC
Call Date:1/27/2025
Shares Offered:11,000,000
Liquidation Preference:$25
Recent Market Price:$21.48
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-3.52 (-14.08%)
Annualized Dividend:1.81252
Recent Ex-Date:7/11/2022
Current Yield:8.44%
Original Coupon:7.25%
Pay Period:Quarterly
Pay Dates:27-Jan, 27-Apr, 27-Jul, 27-Oct
CDx3 Compliance Rating: Learn TWO.PRC's Rating
Two Harbors Investment is a holding company. Through its subsidiaries, Co. operates as a real estate investment trust focused on investing in, financing and managing Agency residential mortgage-backed securities (Agency RMBS), mortgage servicing rights (MSR), and other financial assets, which Co. collectively refers to as its target assets. Co. acquires and manages an investment portfolio of its target assets, which include the following: Agency RMBS, meaning RMBS whose principal and interest payments are guaranteed by the Government National Mortgage Association, the Federal National Mortgage Association, or the Federal Home Loan Mortgage; MSR; and other financial assets.


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Name:  Two Harbors Investment Corp
Sector:  REITs
Number of ETFs Holding TWO:  52 (see which ones)
Total Market Value Held by ETFs:  $453,804,472.32
Total Market Capitalization:  $1,617,000,000
% of Market Cap. Held by ETFs:  28.06%

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