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mREIT Two Harbors Investment Comes a Calling

Large mREIT Two Harbors Investment (TWO) has announced the redemption of 2 issue of preferred stock.

They are redeeming their TWO-D 7.75% issue and their TWO-E 7.50% issue on 3/15/2021. Both of these issues were originally issued by CYS prior to TWO acquiring the company.

Holders of shares will make out nicely since TWO-D closed today at $24.05 and TWO-E closed at $24.55.

Redemption should be around $25.30 for each of the issues–as they will have about 2/3rds of a dividend payment accrued at redemption.

The company press release is here.

jalen picked up on this call early.

4 thoughts on “mREIT Two Harbors Investment Comes a Calling”

  1. Sold mine too early. If I still had it I wouldbe delighted with the call. Hey, free profit! Then just buy something else.

  2. Darn, have had a good amount of those since 2013/2015, and kind of expected D to be called for a while, so yet another income source lost. 2 years ago I wanted more cash, now not sure what to do with it, as I expect interest rates to rise, but hard to be patient when income is decreasing.

    1. You cna buy two A or B if you like the name. Fixed to 2027 and floating after that. Should be ok if rates rise…problem is of course that explosive increases in rates could hurt their book value / credit.

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