The Real Deal New York

Two Harbors REIT sees jump in Q4 earnings up to $76M

February 06, 2014 01:55PM

Two Harbors Investment Corp. racked up $76 million in earnings in the fourth quarter of 2013.

The real estate investment trust, which has its headquarters in 590 Madison Avenue, reported earnings of 21 cents per share in the fourth quarter, slightly above the 19 percent per share, or nearly $68 million, in the third quarter. The company saw a net realized gain of nearly $99 million on residential mortgage-backed securities and held-for-sale mortgage loans. Two Harbors, which is headed up by Tom Siering, also closed on a bulk acquisition of mortgage-servicing rights from Michigan-based Flagstar Bank.

Vornado Realty Trust led the pack among New York-focused real estate investment trusts in the fourth quarter, with total returns of 6.5 percent, as The Real Deal reported. [Housing Wire]Mark Maurer