Credit Suisse Group AG set a $9.50 price objective on Two Harbors Investments Corp. (NYSE:TWO) in a report published on Thursday. The firm currently has a a buy rating on the real estate investment trust’s stock.
TWO has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Two Harbors Investments Corp. from $9.00 to $9.50 and gave the stock an outperform rating in a research report on Monday, August 8th. Zacks Investment Research downgraded Two Harbors Investments Corp. from a buy rating to a hold rating in a research report on Wednesday, July 13th. JPMorgan Chase & Co. restated a buy rating and set a $9.50 target price on shares of Two Harbors Investments Corp. in a research report on Friday, August 5th. FBR & Co downgraded Two Harbors Investments Corp. from an outperform rating to a market perform rating and set a $9.00 target price for the company. in a research report on Tuesday, September 6th. Finally, TheStreet downgraded Two Harbors Investments Corp. from a hold rating to a sell rating in a research report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $9.53.
Shares of Two Harbors Investments Corp. (NYSE:TWO) opened at 8.87 on Thursday. The stock’s 50 day moving average price is $8.93 and its 200 day moving average price is $8.45. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 45.03 and a beta of 0.56. Two Harbors Investments Corp. has a one year low of $6.91 and a one year high of $9.24.
Two Harbors Investments Corp. (NYSE:TWO) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The company earned $100.80 million during the quarter, compared to the consensus estimate of $95.48 million. Two Harbors Investments Corp. had a return on equity of 8.48% and a net margin of 15.46%. The firm’s quarterly revenue was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 earnings per share. Analysts expect that Two Harbors Investments Corp. will post $0.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 10.37%. Two Harbors Investments Corp.’s dividend payout ratio is presently 460.02%.
In related news, CEO Thomas Siering acquired 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was acquired at an average price of $8.99 per share, for a total transaction of $31,465.00. Following the completion of the acquisition, the chief executive officer now owns 862,053 shares of the company’s stock, valued at approximately $7,749,856.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in Two Harbors Investments Corp. by 10.2% in the second quarter. BlackRock Fund Advisors now owns 11,249,382 shares of the real estate investment trust’s stock worth $96,295,000 after buying an additional 1,042,096 shares in the last quarter. State Street Corp increased its stake in shares of Two Harbors Investments Corp. by 2.2% in the first quarter. State Street Corp now owns 5,718,699 shares of the real estate investment trust’s stock valued at $45,406,000 after buying an additional 125,056 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Two Harbors Investments Corp. during the second quarter valued at about $36,200,000. Parametric Portfolio Associates LLC increased its stake in shares of Two Harbors Investments Corp. by 59.9% in the second quarter. Parametric Portfolio Associates LLC now owns 3,514,996 shares of the real estate investment trust’s stock valued at $30,088,000 after buying an additional 1,317,152 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Two Harbors Investments Corp. during the second quarter valued at about $28,838,000. Institutional investors and hedge funds own 70.07% of the company’s stock.
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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