Two Harbors Investments Corp (NYSE:TWO)’s share price gapped up prior to trading on Friday . The stock had previously closed at $62.02, but opened at $39.20. Two Harbors Investments Corp shares last traded at $15.68, with a volume of 3489740 shares trading hands.
Several equities analysts have weighed in on the company. BidaskClub raised Two Harbors Investments Corp from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. ValuEngine raised Two Harbors Investments Corp from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research raised Two Harbors Investments Corp from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Maxim Group reissued a “buy” rating and set a $20.50 price target on shares of Two Harbors Investments Corp in a research report on Tuesday, August 8th. Finally, Credit Suisse Group reissued a “buy” rating and set a $20.00 price target on shares of Two Harbors Investments Corp in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $19.90.
The company has a debt-to-equity ratio of 1.77, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $2.73 billion, a PE ratio of 7.61 and a beta of 0.58.
Two Harbors Investments Corp (NYSE:TWO) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. Two Harbors Investments Corp had a return on equity of 10.26% and a net margin of 72.15%. The business had revenue of $117.79 million for the quarter, compared to analysts’ expectations of $123.04 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue was up 16.8% on a year-over-year basis. equities analysts predict that Two Harbors Investments Corp will post 2.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were issued a dividend of $0.52 per share. This is a boost from Two Harbors Investments Corp’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 28th. This represents a $2.08 annualized dividend and a dividend yield of 13.31%. Two Harbors Investments Corp’s dividend payout ratio (DPR) is 67.53%.
In other Two Harbors Investments Corp news, Director Brian Taylor acquired 32,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average price of $10.06 per share, for a total transaction of $321,920.00. Following the completion of the acquisition, the director now directly owns 51,865 shares of the company’s stock, valued at $521,761.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Siering acquired 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, for a total transaction of $50,700.00. The disclosure for this purchase can be found here. Insiders have bought 206,356 shares of company stock worth $3,569,692 in the last 90 days. Insiders own 1.16% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in Two Harbors Investments Corp in the third quarter valued at $101,000. Linscomb & Williams Inc. acquired a new position in Two Harbors Investments Corp in the second quarter valued at $100,000. Clinton Group Inc. acquired a new position in Two Harbors Investments Corp in the second quarter valued at $104,000. HighTower Advisors LLC acquired a new position in Two Harbors Investments Corp in the first quarter valued at $106,000. Finally, Synovus Financial Corp acquired a new position in Two Harbors Investments Corp in the second quarter valued at $113,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
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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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