Two Harbors Investments Corp (TWO) Raised to “Buy” at B. Riley
B. Riley upgraded shares of Two Harbors Investments Corp (NYSE:TWO) from a neutral rating to a buy rating in a research note released on Friday morning, MarketBeat.com reports. B. Riley currently has $16.50 price objective on the real estate investment trust’s stock, down from their prior price objective of $20.00. B. Riley also issued estimates for Two Harbors Investments Corp’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $2.09 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.45 EPS, Q4 2018 earnings at $0.45 EPS and FY2018 earnings at $1.80 EPS. The analysts noted that the move was a valuation call.
A number of other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Two Harbors Investments Corp from a hold rating to a buy rating and set a $22.00 price objective on the stock in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Two Harbors Investments Corp from a buy rating to a strong-buy rating in a research note on Thursday, November 2nd. Barclays PLC increased their price objective on shares of Two Harbors Investments Corp from $10.00 to $17.00 and gave the company an overweight rating in a research note on Thursday. BidaskClub downgraded shares of Two Harbors Investments Corp from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Finally, Credit Suisse Group reiterated a buy rating and set a $20.00 price objective on shares of Two Harbors Investments Corp in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $18.50.
Two Harbors Investments Corp (NYSE TWO) traded up $0.01 on Friday, reaching $15.35. 3,362,900 shares of the company were exchanged, compared to its average volume of 1,367,554. The firm has a market cap of $2,680.00 and a price-to-earnings ratio of 7.34. Two Harbors Investments Corp has a 1-year low of $15.21 and a 1-year high of $21.08. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.33 and a current ratio of 1.33.
Two Harbors Investments Corp (NYSE:TWO) last posted its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.24. Two Harbors Investments Corp had a net margin of 63.23% and a return on equity of 10.27%. The firm had revenue of $115.03 million for the quarter, compared to the consensus estimate of $112.87 million. During the same period in the prior year, the firm posted $0.24 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. analysts forecast that Two Harbors Investments Corp will post 2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were given a $0.52 dividend. This is an increase from Two Harbors Investments Corp’s previous quarterly dividend of $0.26. This represents a $2.08 dividend on an annualized basis and a dividend yield of 13.55%. The ex-dividend date of this dividend was Thursday, September 28th. Two Harbors Investments Corp’s dividend payout ratio (DPR) is presently 71.72%.
In other news, major shareholder Two Harbors Investment Corp. acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were purchased at an average cost of $18.50 per share, for a total transaction of $462,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Taylor acquired 32,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $321,920.00. Following the completion of the transaction, the director now owns 51,865 shares in the company, valued at $521,761.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 158,144 shares of company stock worth $2,694,393. Insiders own 1.16% of the company’s stock.
Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in Two Harbors Investments Corp in the 3rd quarter valued at about $101,000. Linscomb & Williams Inc. bought a new stake in Two Harbors Investments Corp in the 2nd quarter valued at about $100,000. Clinton Group Inc. bought a new stake in Two Harbors Investments Corp in the 2nd quarter valued at about $104,000. HighTower Advisors LLC bought a new stake in Two Harbors Investments Corp in the 1st quarter valued at about $106,000. Finally, Synovus Financial Corp bought a new stake in Two Harbors Investments Corp in the 2nd quarter valued at about $113,000.
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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