Two Harbors Investments Corp (NYSE:TWO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Two Harbors Investment Corp is a Real Estate Investment Trust that focuses on investing in, financing and managing residential mortgage-backed securities and mortgage loans. Its objective is to provide risk-adjusted returns to investors through dividends and capital appreciation. Two Harbors intends to acquire and manage a portfolio of mortgage-backed securities, focusing on security selection and the relative value of various sectors within the mortgage market. As an investment strategy, the company expects to deploy moderate borrowings through, with respect to Agency RMBS, short-term borrowings structured as repurchase agreements and, with respect to non-Agency RMBS and residential mortgage loans, private funding sources. It may also finance portions of its portfolio through non-recourse term borrowing facilities and equity financing under the Legacy Loan Program and Term Asset-Backed Securities Lending Facility (TALF), if such financing becomes available. “
A number of other brokerages have also issued reports on TWO. Credit Suisse Group set a $9.50 target price on shares of Two Harbors Investments Corp and gave the company a “buy” rating in a research note on Thursday, September 22nd. Wells Fargo & Company upgraded shares of Two Harbors Investments Corp from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 3rd. Finally, JMP Securities restated a “buy” rating on shares of Two Harbors Investments Corp in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $9.54.
Shares of Two Harbors Investments Corp (NYSE:TWO) traded down 0.11% during midday trading on Wednesday, reaching $8.81. 172,234 shares of the company were exchanged. Two Harbors Investments Corp has a 52-week low of $6.91 and a 52-week high of $9.18. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.90 and a beta of 0.59. The company’s 50-day moving average price is $8.82 and its 200 day moving average price is $8.66.
Two Harbors Investments Corp (NYSE:TWO) last issued its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $108.51 million for the quarter, compared to analyst estimates of $89.40 million. Two Harbors Investments Corp had a net margin of 37.85% and a return on equity of 8.76%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities analysts predict that Two Harbors Investments Corp will post $0.90 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, December 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.88%. The ex-dividend date of this dividend is Wednesday, December 28th. This is an increase from Two Harbors Investments Corp’s previous quarterly dividend of $0.23. Two Harbors Investments Corp’s dividend payout ratio is currently 184.62%.
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In other Two Harbors Investments Corp news, CEO Thomas Siering acquired 3,500 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was acquired at an average price of $8.48 per share, with a total value of $29,680.00. Following the transaction, the chief executive officer now directly owns 865,553 shares in the company, valued at $7,339,889.44. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.96% of the company’s stock.
Several large investors have recently made changes to their positions in TWO. First Heartland Consultants Inc. increased its stake in shares of Two Harbors Investments Corp by 0.3% in the second quarter. First Heartland Consultants Inc. now owns 19,069 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 59 shares in the last quarter. Ausdal Financial Partners Inc. increased its stake in shares of Two Harbors Investments Corp by 0.6% in the second quarter. Ausdal Financial Partners Inc. now owns 84,873 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 474 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in shares of 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 in the last quarter. Mackenzie Financial Corp increased its stake in shares of Two Harbors Investments Corp by 4.5% in the second quarter. Mackenzie Financial Corp now owns 24,511 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 1,053 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Two Harbors Investments Corp by 5.4% in the second quarter. US Bancorp DE now owns 21,395 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 1,102 shares in the last quarter. 69.56% of the stock is owned by institutional investors and hedge funds.
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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