Two Harbors Investments Corp (TWO) to Release Earnings on Tuesday
Two Harbors Investments Corp (NYSE:TWO) is scheduled to release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Two Harbors Investments Corp to post earnings of $0.27 per share for the quarter.
Two Harbors Investments Corp (NYSE:TWO) last issued its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $117.79 million during the quarter, compared to analyst estimates of $123.04 million. Two Harbors Investments Corp had a return on equity of 10.26% and a net margin of 72.15%. Two Harbors Investments Corp’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts expect Two Harbors Investments Corp to post $1.07 EPS for the current fiscal year and $1.00 EPS for the next fiscal year.
Two Harbors Investments Corp (TWO) opened at 9.82 on Tuesday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 6.41 and a beta of 0.58. The company has a 50 day moving average price of $10.07 and a 200-day moving average price of $10.02. Two Harbors Investments Corp has a 52 week low of $8.20 and a 52 week high of $10.54. Two Harbors Investments Corp’s stock is going to reverse split on Thursday, November 2nd. The 1-2 reverse split was announced on Thursday, September 14th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 1st.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 10.59%. Two Harbors Investments Corp’s dividend payout ratio is presently 72.73%.
In other Two Harbors Investments Corp news, Director Brian Taylor purchased 32,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $10.06 per share, with a total value of $321,920.00. Following the acquisition, the director now owns 51,865 shares of the company’s stock, valued at $521,761.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Two Harbors Investment Corp. purchased 25,000 shares of the stock in a transaction dated Friday, October 20th. The shares were acquired at an average cost of $18.50 per share, with a total value of $462,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 206,356 shares of company stock valued at $3,569,692 in the last three months. 1.16% of the stock is owned by insiders.
An institutional investor recently raised its position in Two Harbors Investments Corp stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Two Harbors Investments Corp (NYSE:TWO) by 6.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,974 shares of the real estate investment trust’s stock after buying an additional 718 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Two Harbors Investments Corp were worth $119,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research cut Two Harbors Investments Corp from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Credit Suisse Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Two Harbors Investments Corp in a report on Thursday, August 10th. Maxim Group reaffirmed a “buy” rating and issued a $10.25 price objective on shares of Two Harbors Investments Corp in a report on Tuesday, August 8th. Finally, BidaskClub raised Two Harbors Investments Corp from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $9.95.
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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), 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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