Two Harbors Investment Corp (NYSE:TWO) announced a quarterly dividend on Thursday, June 18th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.14 per share by the real estate investment trust on Wednesday, July 29th. This represents a $0.56 annualized dividend and a yield of 11.02%. The ex-dividend date is Monday, June 29th. This is a boost from Two Harbors Investment’s previous quarterly dividend of $0.05.
Two Harbors Investment has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Two Harbors Investment to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 29.4%.
Two Harbors Investment stock traded down $0.19 during mid-day trading on Friday, hitting $5.08. The company had a trading volume of 39,765,379 shares, compared to its average volume of 12,440,175. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. Two Harbors Investment has a 12-month low of $2.25 and a 12-month high of $15.85. The company’s fifty day moving average is $4.89 and its 200-day moving average is $9.66. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -0.86 and a beta of 1.64.
Two Harbors Investment (NYSE:TWO) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.13). Two Harbors Investment had a positive return on equity of 10.49% and a negative net margin of 116.72%. The company had revenue of $88.20 million during the quarter, compared to analysts’ expectations of $40.30 million. During the same quarter in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Two Harbors Investment will post 0.61 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on Two Harbors Investment from $15.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Maxim Group lowered Two Harbors Investment from a “buy” rating to a “hold” rating in a research report on Monday, April 13th. ValuEngine lowered Two Harbors Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 22nd. Finally, JMP Securities decreased their target price on Two Harbors Investment from $15.50 to $6.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $10.97.
About Two Harbors Investment
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.
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