Two Harbors Investment Corp. announced its financial results for the third quarter ended September 30, 2024. The company reported a GAAP net loss of $250.2 million for the quarter. This figure indicates a significant decline in profitability compared to previous periods.
Comprehensive income for the quarter stood at $19.3 million, reflecting a broader measure of financial performance. However, earnings available for distribution (EAD) were reported at $0.13 per share, which was below analyst consensus estimates of $0.33 per share.
The company also declared a common stock dividend of $0.45 per share for the third quarter of 2024. The dividend declaration, alongside the reported net loss and low EAD, raises questions regarding the sustainability of future payouts relative to current earnings.
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