Maxim Group reaffirmed their buy rating on shares of Two Harbors Investments Corp (NYSE:TWO) in a research report report published on Tuesday. Maxim Group currently has a $10.25 price objective on the real estate investment trust’s stock.
TWO has been the topic of a number of other research reports. BidaskClub cut shares of Two Harbors Investments Corp from a strong-buy rating to a buy rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Two Harbors Investments Corp from a hold rating to a sell rating in a report on Thursday, July 6th. Credit Suisse Group initiated coverage on shares of Two Harbors Investments Corp in a report on Wednesday, July 5th. They issued an outperform rating and a $10.50 price objective on the stock. Finally, Wells Fargo & Company cut shares of Two Harbors Investments Corp from an outperform rating to a market perform rating and set a $9.50 price objective on the stock. in a report on Tuesday, April 11th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $9.95.
Shares of Two Harbors Investments Corp (NYSE TWO) traded down 0.50% on Tuesday, reaching $9.99. The company had a trading volume of 3,392,058 shares. The company’s 50-day moving average is $9.90 and its 200-day moving average is $9.69. The company has a market capitalization of $3.49 billion, a PE ratio of 6.52 and a beta of 0.59. Two Harbors Investments Corp has a one year low of $7.91 and a one year high of $10.54.
Two Harbors Investments Corp (NYSE:TWO) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Two Harbors Investments Corp had a net margin of 72.15% and a return on equity of 10.26%. The company had revenue of $117.79 million during the quarter, compared to the consensus estimate of $123.04 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Two Harbors Investments Corp’s revenue was up 16.8% on a year-over-year basis. Equities research analysts predict that Two Harbors Investments Corp will post $1.06 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Friday, June 30th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 10.41%. The ex-dividend date was Wednesday, June 28th. This is a boost from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. Two Harbors Investments Corp’s dividend payout ratio is 72.73%.
In other news, major shareholder Two Harbors Investment Corp. purchased 3,440 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $19.10 per share, for a total transaction of $65,704.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Rebecca B. Sandberg sold 5,566 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $9.85, for a total transaction of $54,825.10. Following the sale, the general counsel now owns 179,466 shares in the company, valued at approximately $1,767,740.10. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 43,212 shares of company stock worth $824,599. Corporate insiders own 1.16% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Two Harbors Investments Corp by 5,046.7% in the second quarter. Principal Financial Group Inc. now owns 3,179,844 shares of the real estate investment trust’s stock worth $31,512,000 after buying an additional 3,118,060 shares during the last quarter. Martingale Asset Management L P boosted its stake in Two Harbors Investments Corp by 8,595.4% in the second quarter. Martingale Asset Management L P now owns 1,870,116 shares of the real estate investment trust’s stock worth $18,534,000 after buying an additional 1,848,609 shares during the last quarter. Boston Partners boosted its stake in Two Harbors Investments Corp by 21.8% in the first quarter. Boston Partners now owns 7,244,328 shares of the real estate investment trust’s stock worth $69,473,000 after buying an additional 1,295,633 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Two Harbors Investments Corp by 92.6% in the second quarter. TIAA CREF Investment Management LLC now owns 2,544,698 shares of the real estate investment trust’s stock worth $25,218,000 after buying an additional 1,223,130 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in Two Harbors Investments Corp during the second quarter worth approximately $11,869,000. Hedge funds and other institutional investors own 71.02% 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), 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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