Two Harbors Investment Corp’s “Buy” Rating Reaffirmed at Deutsche Bank (TWO)
Two Harbors Investment Corp (NYSE: TWO)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a report released on Tuesday. They currently have a $13.50 target price on the stock, up from their previous target price of $12.75.
The analysts wrote, “TWO declared 1Q regular 32c dividend and a special stock dividend to distribute its ownership of SBY. Additionally, TWO announced a secondary offering of 50m shares, which we expect to generate net proceeds of roughly $762m. We are increasing our ’13 and ’14 estimates given the better than expected 1Q dividend and our new portfolio return expectations. We are increasing our target to $13.50, which is based on a 25% premium to our postdeal, post-SBY BVPS estimate of $10.80 per share.”
Shares of Two Harbors Investment Corp (NYSE: TWO) traded up 0.82% during mid-day trading on Tuesday, hitting $13.59. Two Harbors Investment Corp has a 52 week low of $9.85 and a 52 week high of $14.02. The stock’s 50-day moving average is currently $12.77. The company has a market cap of $4.061 billion and a P/E ratio of 11.24.
Two Harbors Investment Corp (NYSE: TWO) last announced its earnings results on Wednesday, February 6th. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.37 by $0.09.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee reiterated a “neutral” rating on shares of Two Harbors Investment Corp in a research note to investors on Friday, March 15th. Separately, analysts at Zacks upgraded shares of Two Harbors Investment Corp from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, March 12th. They now have a $13.60 price target on the stock. Finally, analysts at FBR Capital raised their price target on shares of Two Harbors Investment Corp from $12.00 to $14.00 in a research note to investors on Monday, March 4th. They now have an “outperform” rating on the stock.
Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.81.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 24th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 9.50%. The ex-dividend date is Thursday, March 28th.
Two Harbors Investment Corp. (NYSE: TWO) is an real estate investment trust (REIT), which focuses on investing in, financing and managing residential mortgage-backed securities (RMBS).
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