Two Harbors Investments (NYSE:TWO) Reaches New 52-Week High – Here’s Why

Two Harbors Investments Corp (NYSE:TWO) hit a new 52-week high during trading on Friday . The stock traded as high as $12.07 and last traded at $12.0650, with a volume of 231232 shares traded. The stock had previously closed at $12.03.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price objective on Two Harbors Investments from $11.00 to $12.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Two Harbors Investments in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Two Harbors Investments from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. Compass Point reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Two Harbors Investments in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Two Harbors Investments from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.75.

Two Harbors Investments Stock Up 0.3%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $11.68. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -16.30 and a beta of 1.04.

Two Harbors Investments (NYSE:TWO) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $247.57 million during the quarter, compared to analysts’ expectations of $9.45 million. Two Harbors Investments had a positive return on equity of 12.79% and a negative net margin of 6.09%. Equities analysts expect that Two Harbors Investments Corp will post 0.89 EPS for the current year.

Two Harbors Investments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date was Thursday, July 2nd. Two Harbors Investments’s dividend payout ratio is -64.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new stake in shares of Two Harbors Investments in the 2nd quarter valued at $531,000. Global Retirement Partners LLC bought a new stake in shares of Two Harbors Investments in the 2nd quarter worth about $36,000. Bank of New York Mellon Corp acquired a new stake in shares of Two Harbors Investments during the 2nd quarter worth about $7,600,000. GAMMA Investing LLC increased its position in shares of Two Harbors Investments by 37.8% during the 2nd quarter. GAMMA Investing LLC now owns 7,162 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Ballast Advisors LLC bought a new position in Two Harbors Investments during the 1st quarter valued at about $50,000. 64.19% of the stock is owned by institutional investors.

About Two Harbors Investments

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.