Two Harbors Investment Corp (TWO) Plans $0.47 Quarterly Dividend
Two Harbors Investment Corp (NYSE:TWO) declared a quarterly dividend on Friday, December 15th, Wall Street Journal reports. Investors of record on Tuesday, December 26th will be paid a dividend of 0.47 per share by the real estate investment trust on Friday, December 29th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.58%. The ex-dividend date is Friday, December 22nd.
Two Harbors Investment has decreased its dividend by an average of 18.0% annually over the last three years. Two Harbors Investment has a payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Two Harbors Investment to earn $1.83 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 56.8%.
Shares of Two Harbors Investment (NYSE TWO) traded down $0.03 during mid-day trading on Friday, hitting $16.23. The stock had a trading volume of 1,499,100 shares, compared to its average volume of 1,697,834. Two Harbors Investment has a twelve month low of $13.96 and a twelve month high of $17.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2,837.19, a P/E ratio of 7.78 and a beta of 0.57.
TWO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Two Harbors Investment from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 11th. ValuEngine upgraded Two Harbors Investment from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 2nd. B. Riley reiterated a “neutral” rating on shares of Two Harbors Investment in a report on Wednesday, November 1st. Maxim Group reiterated a “buy” rating and set a $17.00 price target (down previously from $20.50) on shares of Two Harbors Investment in a report on Thursday, November 9th. Finally, Barclays lifted their price target on Two Harbors Investment from $10.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.50.
In other news, Director Brian Taylor acquired 9,500 shares of Two Harbors Investment stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average price of $15.64 per share, with a total value of $148,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Two Harbors Investment Corp. acquired 25,000 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, September 20th. The shares were purchased at an average cost of $18.82 per share, with a total value of $470,500.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 144,144 shares of company stock valued at $2,652,253. Insiders own 1.16% of the company’s stock.
An institutional investor recently raised its position in Two Harbors Investment stock. The Manufacturers Life Insurance Company boosted its position in shares of Two Harbors Investment Corp (NYSE:TWO) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,974 shares of the real estate investment trust’s stock after purchasing an additional 718 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Two Harbors Investment were worth $119,000 at the end of the most recent reporting period.
Two Harbors Investment 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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