Zacks Investment Research lowered shares of Two Harbors Investments Corp (NYSE:TWO) from a hold rating to a strong sell rating in a report released 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. “
Several other research analysts have also weighed in on the stock. Credit Suisse Group initiated coverage on shares of Two Harbors Investments Corp in a research note on Wednesday, July 5th. They set an outperform rating and a $10.50 target price for the company. BidaskClub lowered shares of Two Harbors Investments Corp from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Finally, Maxim Group reissued a buy rating and set a $10.25 price target on shares of Two Harbors Investments Corp in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $9.95.
Shares of Two Harbors Investments Corp (NYSE TWO) traded up 0.20% during midday trading on Wednesday, reaching $10.14. 782,392 shares of the company were exchanged. Two Harbors Investments Corp has a 52 week low of $8.13 and a 52 week high of $10.54. The firm has a 50-day moving average of $10.11 and a 200 day moving average of $9.99. The firm has a market capitalization of $3.54 billion, a P/E ratio of 6.61 and a beta of 0.58. Shares of Two Harbors Investments Corp are scheduled to reverse split on the morning of Thursday, November 2nd. The 1-2 reverse split was announced on Thursday, September 14th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 1st.
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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The company had revenue of $117.79 million during the quarter, compared to analyst estimates of $123.04 million. Two Harbors Investments Corp had a net margin of 72.15% and a return on equity of 10.26%. Two Harbors Investments Corp’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts expect that Two Harbors Investments Corp will post $1.07 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, September 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a dividend yield of 10.28%. Two Harbors Investments Corp’s dividend payout ratio is presently 72.73%.
In other Two Harbors Investments Corp news, CEO Thomas Siering purchased 5,000 shares of Two Harbors Investments Corp 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Taylor purchased 32,000 shares of Two Harbors Investments Corp stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $10.06 per share, for a total transaction of $321,920.00. Following the transaction, the director now directly owns 51,865 shares of the company’s stock, valued at approximately $521,761.90. The disclosure for this purchase can be found here. Insiders have bought 118,829 shares of company stock worth $1,925,821 in the last three months. Corporate insiders own 1.16% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Linscomb & Williams Inc. acquired a new stake in Two Harbors Investments Corp in the second quarter valued at approximately $100,000. Clinton Group Inc. acquired a new stake in Two Harbors Investments Corp in the second quarter valued at approximately $104,000. HighTower Advisors LLC acquired a new stake in Two Harbors Investments Corp in the first quarter valued at approximately $106,000. Synovus Financial Corp acquired a new stake in Two Harbors Investments Corp in the second quarter valued at approximately $113,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Two Harbors Investments Corp by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 11,974 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 718 shares in the last quarter. 70.21% of the stock is currently 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), 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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