Two Harbors Investments Corp. (TWO) Receives Consensus Recommendation of “Hold” from Brokerages
Two Harbors Investments Corp. (NYSE:TWO) has been given a consensus recommendation of “Hold” by the twelve research firms that are covering the firm. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.53.
Several brokerages have weighed in on TWO. FBR & Co downgraded Two Harbors Investments Corp. from an “outperform” rating to a “market perform” rating and set a $9.00 price target on the stock. in a research report on Tuesday, September 6th. Credit Suisse Group AG set a $9.50 price target on Two Harbors Investments Corp. and gave the stock a “buy” rating in a research report on Thursday, September 22nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $9.50 price target on shares of Two Harbors Investments Corp. in a research report on Friday, August 5th. TheStreet cut Two Harbors Investments Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Finally, Keefe, Bruyette & Woods raised their target price on Two Harbors Investments Corp. from $9.00 to $9.50 and gave the company an “outperform” rating in a research report on Monday, August 8th.
In related news, CEO Thomas Siering purchased 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were purchased at an average cost of $8.99 per share, with a total value of $31,465.00. Following the purchase, the chief executive officer now owns 862,053 shares of the company’s stock, valued at approximately $7,749,856.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by corporate insiders.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TWO. Jefferies Group LLC acquired a new position in Two Harbors Investments Corp. during the second quarter worth $103,000. Advisor Group Inc. acquired a new position in Two Harbors Investments Corp. during the second quarter worth $110,000. Sheaff Brock Investment Advisors LLC raised its position in Two Harbors Investments Corp. by 6.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,198 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 800 shares during the period. RNC Capital Management LLC acquired a new position in Two Harbors Investments Corp. during the second quarter worth $128,000. Finally, Eqis Capital Management Inc. acquired a new position in Two Harbors Investments Corp. during the third quarter worth $143,000. 70.08% of the stock is currently owned by institutional investors and hedge funds.
Two Harbors Investments Corp. (NYSE:TWO) traded up 1.11% during midday trading on Wednesday, hitting $8.20. The company had a trading volume of 1,154,764 shares. Two Harbors Investments Corp. has a 1-year low of $6.91 and a 1-year high of $9.18. The firm has a market capitalization of $2.85 billion, a P/E ratio of 41.62 and a beta of 0.56. The company has a 50 day moving average price of $8.71 and a 200 day moving average price of $8.47.
Two Harbors Investments Corp. (NYSE:TWO) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $100.80 million for the quarter, compared to the consensus estimate of $95.48 million. Two Harbors Investments Corp. had a return on equity of 8.48% and a net margin of 15.46%. The firm’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities research analysts forecast that Two Harbors Investments Corp. will post $0.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Two Harbors Investments Corp.’s dividend payout ratio is presently 460.02%.
Two Harbors Investments Corp. Company Profile
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), residential mortgage loans, mortgage servicing rights (MSR), commercial real estate and other financial assets. The Company’s target asset classes include Agency RMBS collateralized by fixed rate mortgage loans, adjustable-rate mortgage (ARM) loans or hybrid mortgage loans, including mortgage pass-through certificates, collateralized mortgage obligations, the Federal Home Loan Mortgage Corporation gold certificates, the Federal National Mortgage Association certificates, the Government National Mortgage Association (Ginnie Mae) certificates, to-be-announced forward contracts, and interest-only and inverse interest-only securities; Non-Agency RMBS, including both senior and mezzanine RMBS, and floating and fixed rate commercial real estate loans.
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