Maxim Group restated their buy rating on shares of Two Harbors Investments Corp (NYSE:TWO) in a research report released on Tuesday, August 8th. Maxim Group currently has a $10.25 price target on the real estate investment trust’s stock.
TWO has been the topic of a number of other research reports. Zacks Investment Research raised Two Harbors Investments Corp from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research report on Thursday, July 20th. Credit Suisse Group began coverage on Two Harbors Investments Corp in a research report on Wednesday, July 5th. They set an outperform rating and a $10.50 price objective on the stock. BidaskClub lowered Two Harbors Investments Corp from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Finally, Wells Fargo & Company lowered Two Harbors Investments Corp from an outperform rating to a market perform rating and set a $9.50 price objective on the stock. in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Two Harbors Investments Corp currently has an average rating of Buy and a consensus target price of $9.95.
Two Harbors Investments Corp (NYSE TWO) traded up 1.00% on Tuesday, reaching $10.12. The company’s stock had a trading volume of 2,577,800 shares. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 6.60 and a beta of 0.59. The company has a 50 day moving average of $9.89 and a 200 day moving average of $9.74. Two Harbors Investments Corp has a 52 week low of $7.91 and a 52 week high of $10.54.
Two Harbors Investments Corp (NYSE:TWO) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The company had revenue of $117.79 million for 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%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, analysts forecast that Two Harbors Investments Corp will post $1.07 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Friday, June 30th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 10.28%. The ex-dividend date was Wednesday, June 28th. This is an increase from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. Two Harbors Investments Corp’s dividend payout ratio is currently 72.73%.
In other Two Harbors Investments Corp news, major shareholder Two Harbors Investment Corp. bought 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $19.07 per share, for a total transaction of $476,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Siering bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $10.14 per share, with a total value of $50,700.00. The disclosure for this purchase can be found here. Insiders have bought 80,212 shares of company stock valued at $1,197,219 in the last quarter. Insiders own 1.16% of the company’s stock.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Two Harbors Investments Corp by 1.2% in the second quarter. Vanguard Group Inc. now owns 28,500,232 shares of the real estate investment trust’s stock valued at $282,437,000 after buying an additional 329,603 shares during the period. Boston Partners boosted its position in Two Harbors Investments Corp by 21.8% in the first quarter. Boston Partners now owns 7,244,328 shares of the real estate investment trust’s stock valued at $69,473,000 after buying an additional 1,295,633 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Two Harbors Investments Corp by 110.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,908,716 shares of the real estate investment trust’s stock valued at $58,555,000 after buying an additional 3,099,465 shares in the last quarter. State Street Corp boosted its position in Two Harbors Investments Corp by 4.3% in the second quarter. State Street Corp now owns 5,254,781 shares of the real estate investment trust’s stock valued at $52,078,000 after buying an additional 217,529 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Two Harbors Investments Corp by 21.0% in the first quarter. Russell Investments Group Ltd. now owns 3,909,635 shares of the real estate investment trust’s stock valued at $37,507,000 after buying an additional 679,415 shares in the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.
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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