NEW YORK--(BUSINESS WIRE)--Two Harbors Investment Corp. (NYSE: TWO), a leading hybrid mortgage real estate investment trust, today has provided the following updates with respect to its business, through the close of business on March 19, 2020.

• We estimate that our book value is down approximately 16% in the first quarter, through March 17, 2020.
• We continue to focus on raising excess liquidity and reducing leverage in our portfolio.
• We are actively managing interest rate risk in our portfolio.
• The markets are extremely volatile and asset spreads in Agency RMBS and legacy non-Agency RMBS have experienced material widening.
• The repo markets are continuing to function, albeit at wider levels.
• We expect to make an announcement regarding common and preferred dividends the week of March 23, 2020.

“We are witnessing unprecedented market conditions stemming from the global COVID-19 pandemic. In light of this, the Board of Directors and management have determined that it is in the best interests of stockholders to delay any decision about our first quarter dividend declarations,” stated Thomas Siering, Two Harbors’ President and Chief Executive Officer. “We believe this is a prudent step in managing the company through a challenging and dynamic economic environment and is consistent with our goal of ensuring that we take steps to preserve long-term stockholder value.”

Two Harbors Investment Corp.

Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets. Two Harbors is headquartered in New York, New York, and is externally managed and advised by PRCM Advisers LLC, a wholly owned subsidiary of Pine River Capital Management L.P. Additional information is available at www.twoharborsinvestment.com.