Credit Suisse Group AG set a $9.50 price target on Two Harbors Investments Corp. (NYSE:TWO) in a report published on Thursday. The brokerage currently has a a buy rating on the real estate investment trust’s stock.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG set a $9.80 target price on Two Harbors Investments Corp. and gave the company a buy rating in a research note on Saturday, August 6th. FBR & Co restated a buy rating on shares of Two Harbors Investments Corp. in a research note on Friday, July 29th. JPMorgan Chase & Co. restated a buy rating and issued a $9.50 target price on shares of Two Harbors Investments Corp. in a research note on Friday, August 5th. Wunderlich boosted their target price on Two Harbors Investments Corp. from $8.75 to $9.50 and gave the company a hold rating in a research note on Friday, August 5th. Finally, Zacks Investment Research cut Two Harbors Investments Corp. from a buy rating to a hold rating in a research note on Wednesday, July 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $9.53.
Shares of Two Harbors Investments Corp. (NYSE:TWO) opened at 8.64 on Thursday. The firm has a 50-day moving average of $8.92 and a 200-day moving average of $8.45. Two Harbors Investments Corp. has a one year low of $6.91 and a one year high of $9.24. The firm has a market capitalization of $3.00 billion, a P/E ratio of 43.86 and a beta of 0.56.
Two Harbors Investments Corp. (NYSE:TWO) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The firm had revenue of $100.80 million for the quarter, compared to analysts’ expectations of $95.48 million. Two Harbors Investments Corp. had a return on equity of 8.48% and a net margin of 15.46%. The business’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities analysts predict that Two Harbors Investments Corp. will post $0.41 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.37%. The ex-dividend date of this dividend is Wednesday, September 28th. Two Harbors Investments Corp.’s payout ratio is presently 460.02%.
In other Two Harbors Investments Corp. news, CEO Thomas Siering bought 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average cost of $8.99 per share, with a total value of $31,465.00. Following the acquisition, the chief executive officer now owns 862,053 shares of the company’s stock, valued at $7,749,856.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. KAMES CAPITAL plc raised its position in Two Harbors Investments Corp. by 12.2% in the second quarter. KAMES CAPITAL plc now owns 807,263 shares of the real estate investment trust’s stock worth $6,910,000 after buying an additional 87,946 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Two Harbors Investments Corp. during the second quarter valued at about $413,000. IFP Advisors Inc increased its stake in Two Harbors Investments Corp. by 11.5% in the second quarter. IFP Advisors Inc now owns 22,438 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 2,316 shares during the period. Public Employees Retirement System of Ohio increased its stake in Two Harbors Investments Corp. by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 88,410 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 3,074 shares during the period. Finally, Sterling Capital Management LLC increased its stake in Two Harbors Investments Corp. by 15.9% in the second quarter. Sterling Capital Management LLC now owns 77,668 shares of the real estate investment trust’s stock valued at $665,000 after buying an additional 10,672 shares during the period. 70.07% of the stock is currently owned by institutional investors and hedge funds.
About Two Harbors Investments Corp.
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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