Two Harbors Investments Corp. (TWO) Receives Consensus Recommendation of “Hold” from Brokerages
Two Harbors Investments Corp. (NYSE:TWO) has been given an average rating of “Hold” by the twelve ratings firms that are currently covering the firm. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.53.
TWO has been the subject of a number of analyst reports. Zacks Investment Research lowered Two Harbors Investments Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. FBR & Co reaffirmed a “buy” rating on shares of Two Harbors Investments Corp. in a research report on Friday, July 29th. Wunderlich raised their price objective on Two Harbors Investments Corp. from $8.75 to $9.50 and gave the company a “hold” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $9.50 price objective on shares of Two Harbors Investments Corp. in a research report on Friday, August 5th. Finally, TheStreet lowered Two Harbors Investments Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th.
Shares of Two Harbors Investments Corp. (NYSE:TWO) traded up 1.11% on Wednesday, hitting $8.20. The stock had a trading volume of 1,154,764 shares. The stock has a market cap of $2.85 billion, a PE ratio of 41.62 and a beta of 0.56. Two Harbors Investments Corp. has a 12 month low of $6.91 and a 12 month high of $9.18. The stock has a 50 day moving average of $8.71 and a 200-day moving average of $8.47.
Two Harbors Investments Corp. (NYSE:TWO) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.22. Two Harbors Investments Corp. had a return on equity of 8.48% and a net margin of 15.46%. The company earned $100.80 million during the quarter, compared to analyst estimates of $95.48 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. Equities research analysts anticipate that Two Harbors Investments Corp. will post $0.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 11.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Two Harbors Investments Corp.’s payout ratio is currently 460.02%.
In other news, CEO Thomas Siering acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was bought at an average price of $8.99 per share, with a total value of $31,465.00. Following the completion of the acquisition, the chief executive officer now directly owns 862,053 shares of the company’s stock, valued at approximately $7,749,856.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of TWO. Jefferies Group LLC purchased a new stake in shares of Two Harbors Investments Corp. during the second quarter valued at approximately $103,000. Advisor Group Inc. purchased a new stake in shares of Two Harbors Investments Corp. during the second quarter valued at approximately $110,000. Sheaff Brock Investment Advisors LLC raised its stake in shares of Two Harbors Investments Corp. by 6.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,198 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 800 shares during the last quarter. RNC Capital Management LLC purchased a new stake in shares of Two Harbors Investments Corp. during the second quarter valued at approximately $128,000. Finally, Eqis Capital Management Inc. bought a new position in Two Harbors Investments Corp. during the third quarter valued at $143,000. 70.08% of the stock is owned by institutional investors.
About Two Harbors Investments Corp.
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights (MSR), commercial real estate and other financial assets. The Company’s target asset classes include Agency RMBS collateralized by fixed rate mortgage loans, adjustable-rate mortgage (ARM) loans or hybrid mortgage loans, including mortgage pass-through certificates, collateralized mortgage obligations, the Federal Home Loan Mortgage Corporation gold certificates, the Federal National Mortgage Association certificates, the Government National Mortgage Association (Ginnie Mae) certificates, to-be-announced forward contracts, and interest-only and inverse interest-only securities; Non-Agency RMBS, including both senior and mezzanine RMBS, and floating and fixed rate commercial real estate loans.
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