Two Harbors Investments Corp (TWO) Announces Earnings Results
Two Harbors Investments Corp (NYSE:TWO) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.24, Briefing.com reports. The business had revenue of $115.03 million for the quarter, compared to analysts’ expectations of $112.87 million. Two Harbors Investments Corp had a net margin of 72.15% and a return on equity of 10.26%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share.
Two Harbors Investments Corp (TWO) opened at $15.35 on Wednesday. Two Harbors Investments Corp has a fifty-two week low of $15.21 and a fifty-two week high of $33.50. The firm has a market cap of $2,660.92, a PE ratio of 7.40 and a beta of 0.58. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.77.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.08 annualized dividend and a dividend yield of 13.55%. This is a positive change from Two Harbors Investments Corp’s previous quarterly dividend of $0.26. Two Harbors Investments Corp’s dividend payout ratio is currently 72.73%.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Two Harbors Investments Corp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, July 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Two Harbors Investments Corp in a research report on Thursday, August 10th. Maxim Group reaffirmed a “buy” rating and set a $20.50 price target on shares of Two Harbors Investments Corp in a research report on Tuesday, August 8th. BidaskClub cut shares of Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Two Harbors Investments Corp in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.90.
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In related news, major shareholder Two Harbors Investment Corp. acquired 2,395 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were purchased at an average price of $18.95 per share, for a total transaction of $45,385.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Siering acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $10.14 per share, for a total transaction of $50,700.00. The disclosure for this purchase can be found here. Insiders have bought 181,356 shares of company stock worth $3,092,942 in the last quarter. Company insiders own 1.16% of the company’s stock.
A hedge fund recently raised its stake in Two Harbors Investments Corp stock. The Manufacturers Life Insurance Company increased its holdings in Two Harbors Investments Corp (NYSE:TWO) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,974 shares of the real estate investment trust’s stock after acquiring an additional 718 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Two Harbors Investments Corp were worth $119,000 at the end of the most recent quarter. Institutional investors and hedge funds own 70.46% of the company’s stock.
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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