Two Harbors Investments Corp. (TWO) PT Set at $9.50 by Credit Suisse Group AG
Two Harbors Investments Corp. (NYSE:TWO) has been assigned a $9.50 price target by stock analysts at Credit Suisse Group AG in a note issued to investors on Thursday. The firm currently has a a “buy” rating on the real estate investment trust’s stock. Credit Suisse Group AG’s price objective points to a potential upside of 5.91% from the company’s previous close.
A number of other research firms have also weighed in on TWO. FBR & Co lowered shares of Two Harbors Investments Corp. from an “outperform” rating to a “market perform” rating and set a $9.00 price objective for the company. in a research report on Tuesday, September 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Two Harbors Investments Corp. from $9.00 to $9.50 and gave the company an “outperform” rating in a research report on Monday, August 8th. Deutsche Bank AG set a $9.80 price objective on shares of Two Harbors Investments Corp. and gave the company a “buy” rating in a research report on Saturday, August 6th. TheStreet lowered shares of Two Harbors Investments Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $9.50 price objective on shares of Two Harbors Investments Corp. in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Two Harbors Investments Corp. currently has a consensus rating of “Hold” and an average target price of $9.53.
Shares of Two Harbors Investments Corp. (NYSE:TWO) traded down 0.78% during trading on Thursday, reaching $8.90. 593,608 shares of the company’s stock traded hands. The stock has a 50-day moving average of $8.93 and a 200-day moving average of $8.42. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 45.18 and a beta of 0.56. Two Harbors Investments Corp. has a 1-year low of $6.91 and a 1-year high of $9.63.
Two Harbors Investments Corp. (NYSE:TWO) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Two Harbors Investments Corp. had a net margin of 15.46% and a return on equity of 8.48%. The company had revenue of $100.80 million for the quarter, compared to the consensus estimate of $95.48 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The company’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities analysts predict that Two Harbors Investments Corp. will post $0.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 10.26%. The ex-dividend date of this dividend is Wednesday, September 28th. Two Harbors Investments Corp.’s payout ratio is currently 460.02%.
In other Two Harbors Investments Corp. news, CEO Thomas Siering acquired 3,500 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was bought at an average price of $8.99 per share, with a total value of $31,465.00. Following the completion of the transaction, the chief executive officer now directly owns 862,053 shares of the company’s stock, valued at $7,749,856.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Jefferies Group LLC acquired a new stake in Two Harbors Investments Corp. during the second quarter valued at about $103,000. Advisor Group Inc. acquired a new stake in Two Harbors Investments Corp. during the second quarter valued at about $110,000. Sheaff Brock Investment Advisors LLC raised its stake in Two Harbors Investments Corp. by 6.0% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,198 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 800 shares during the last quarter. RNC Capital Management LLC acquired a new stake in Two Harbors Investments Corp. during the second quarter valued at about $128,000. Finally, BB&T Securities LLC raised its stake in Two Harbors Investments Corp. by 28.8% in the second quarter. BB&T Securities LLC now owns 18,240 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 4,076 shares during the last quarter. 70.07% of the stock is owned by institutional investors.
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), 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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