Two Harbors (TWO) announces a plan to spin off its portfolio of single-family properties to a...

|About: Two Harbors Investment C... (TWO)|By:, SA News Editor

Two Harbors (TWO) announces a plan to spin off its portfolio of single-family properties to a newly formed REIT (Silver Bay Realty Trust) in which it will receive shares. Silver Bay has filed for an IPO and will acquire additional portfolios of single-family rentals. The plan still requires board approval. After a quick pop higher, shares -0.5% AH. (PR)