Two Harbors Investments Corp (TWO) Shares Set to Reverse Split on Thursday, November 2nd
Two Harbors Investments Corp (NYSE:TWO) shares are set to reverse split before the market opens on Thursday, November 2nd. The 1-2 reverse split was announced on Thursday, September 14th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 1st.
Two Harbors Investments Corp (NYSE TWO) opened at 10.11 on Friday. The firm has a market capitalization of $3.53 billion, a PE ratio of 6.59 and a beta of 0.58. Two Harbors Investments Corp has a 12 month low of $8.20 and a 12 month high of $10.54. The firm has a 50-day moving average of $10.11 and a 200 day moving average of $10.01.
Two Harbors Investments Corp (NYSE:TWO) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Two Harbors Investments Corp had a net margin of 72.15% and a return on equity of 10.26%. The business had revenue of $117.79 million during the quarter, compared to analyst estimates of $123.04 million. During the same period in the previous year, the business posted $0.22 earnings per share. Two Harbors Investments Corp’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts forecast that Two Harbors Investments Corp will post $1.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be issued a $0.26 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.29%. Two Harbors Investments Corp’s payout ratio is 72.73%.
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A number of equities research analysts have recently weighed in on TWO shares. Credit Suisse Group started coverage on shares of Two Harbors Investments Corp in a report on Wednesday, July 5th. They issued an “outperform” rating and a $10.50 price objective for the company. Zacks Investment Research lowered shares of Two Harbors Investments Corp from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. BidaskClub lowered shares of Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Maxim Group restated a “buy” rating and issued a $10.25 price objective on shares of Two Harbors Investments Corp in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Two Harbors Investments Corp presently has an average rating of “Buy” and a consensus price target of $9.95.
In other news, major shareholder Two Harbors Investment Corp. bought 2,395 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were bought at an average cost of $18.95 per share, with a total value of $45,385.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Taylor bought 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average cost of $10.06 per share, for a total transaction of $321,920.00. Following the completion of the purchase, the director now owns 51,865 shares of the company’s stock, valued at $521,761.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 181,356 shares of company stock valued at $3,107,192. Company insiders own 1.16% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Linscomb & Williams Inc. purchased a new position in shares of Two Harbors Investments Corp in the second quarter worth $100,000. Meeder Asset Management Inc. purchased a new position in Two Harbors Investments Corp during the 3rd quarter valued at $101,000. Clinton Group Inc. purchased a new position in Two Harbors Investments Corp during the 2nd quarter valued at $104,000. HighTower Advisors LLC purchased a new position in Two Harbors Investments Corp during the 1st quarter valued at $106,000. Finally, Synovus Financial Corp purchased a new position in Two Harbors Investments Corp during the 2nd quarter valued at $113,000. 70.21% of the stock is currently 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), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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