Rubicon Associates
REITs, special situations, bonds, Preferred Stock

Two Harbors Is Not A One Trick Pony

Two Harbors Investment Corp (NYSE:TWO) is queued up to bring $400 million of non-agency residential mortgage backed securities ("RMBS") to market. This will be the second time this year they have sold into the securitization market and the debut issue of their own (the first was done with Credit Suisse (NYSE:CS)).

A little over a year ago, I wrote an article on TWO's entry into the own to rent single family market (here) in which I stated:

This is part of the upside I see in Two Harbors. This activity will allow the REIT to further diversify its risks and increase portfolio yield and stability. Two Harbors is a strong addition to an mREIT,...
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