Two Harbors Investment Corp. (NYSE:TWO – Get Rating) announced a quarterly dividend on Wednesday, September 21st, Zacks reports. Stockholders of record on Monday, October 3rd will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, October 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 15.96%. The ex-dividend date of this dividend is Friday, September 30th.
Two Harbors Investment has decreased its dividend by an average of 28.8% per year over the last three years. Two Harbors Investment has a payout ratio of 87.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Two Harbors Investment to earn $0.62 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 109.7%.
Two Harbors Investment Stock Down 3.4 %
Shares of TWO traded down $0.15 during midday trading on Friday, reaching $4.26. The stock had a trading volume of 36,017 shares, compared to its average volume of 2,129,560. Two Harbors Investment has a 1-year low of $4.26 and a 1-year high of $6.81. The company’s fifty day simple moving average is $5.00 and its two-hundred day simple moving average is $5.06. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 7.35 and a beta of 1.59. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 1.21.
Institutional Investors Weigh In On Two Harbors Investment
Several hedge funds and other institutional investors have recently bought and sold shares of TWO. Yousif Capital Management LLC grew its position in Two Harbors Investment by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 315,567 shares of the real estate investment trust’s stock worth $1,745,000 after purchasing an additional 2,427 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Two Harbors Investment by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 266,376 shares of the real estate investment trust’s stock worth $1,327,000 after purchasing an additional 3,795 shares during the last quarter. Mackenzie Financial Corp grew its position in Two Harbors Investment by 21.7% during the 1st quarter. Mackenzie Financial Corp now owns 21,481 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 3,829 shares during the last quarter. Legal & General Group Plc grew its position in Two Harbors Investment by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 1,021,380 shares of the real estate investment trust’s stock worth $5,086,000 after purchasing an additional 9,564 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Two Harbors Investment by 18.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 62,766 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 9,682 shares in the last quarter. 63.99% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, JMP Securities restated a “buy” rating and issued a $5.50 price objective on shares of Two Harbors Investment in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.65.
Two Harbors Investment Company Profile
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.
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