Two Harbors Investments Corp (TWO) Earns Buy Rating from Maxim Group
Maxim Group reissued their buy rating on shares of Two Harbors Investments Corp (NYSE:TWO) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $17.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $20.50.
“TWO reported 3Q17 comprehensive income of $0.93 per share, versus its new dividend of $0.52 per share, so book value was up 1.9%. In our view, it was a strong quarter.”,” Maxim Group’s analyst commented.
TWO has been the subject of a number of other reports. Zacks Investment Research raised Two Harbors Investments Corp from a hold rating to a buy rating and set a $22.00 target price for the company in a research report on Thursday, July 20th. Credit Suisse Group reissued a buy rating and issued a $20.00 target price on shares of Two Harbors Investments Corp in a research report on Thursday, August 10th. ValuEngine cut Two Harbors Investments Corp from a strong-buy rating to a buy rating in a research report on Thursday. BidaskClub cut Two Harbors Investments Corp from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Finally, B. Riley reissued a neutral rating on shares of Two Harbors Investments Corp in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Two Harbors Investments Corp currently has a consensus rating of Buy and a consensus target price of $18.50.
Two Harbors Investments Corp (NYSE:TWO) traded up $0.01 on Thursday, hitting $15.35. The stock had a trading volume of 3,362,900 shares, compared to its average volume of 1,622,147. Two Harbors Investments Corp has a fifty-two week low of $15.21 and a fifty-two week high of $21.08. The stock has a market cap of $2,678.41, a P/E ratio of 7.34 and a beta of 0.58. The company has a current ratio of 1.33, a quick ratio of 1.55 and a debt-to-equity ratio of 1.37.
Two Harbors Investments Corp (NYSE:TWO) last announced its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.24. The firm had revenue of $115.03 million during the quarter, compared to analysts’ expectations of $112.87 million. Two Harbors Investments Corp had a return on equity of 10.27% and a net margin of 63.23%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. analysts forecast that Two Harbors Investments Corp will post 2.12 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 13.55%. This is a boost from Two Harbors Investments Corp’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, September 28th. Two Harbors Investments Corp’s dividend payout ratio (DPR) is presently 71.23%.
In related news, Director Brian Taylor acquired 32,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $10.06 per share, with a total value of $321,920.00. Following the transaction, the director now owns 51,865 shares of the company’s stock, valued at $521,761.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Two Harbors Investment Corp. acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were bought at an average cost of $18.82 per share, with a total value of $470,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 163,144 shares of company stock valued at $2,745,093 over the last ninety days. 1.16% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Linscomb & Williams Inc. acquired a new stake in shares of Two Harbors Investments Corp in the 2nd quarter valued at approximately $100,000. Meeder Asset Management Inc. acquired a new stake in shares of Two Harbors Investments Corp in the 3rd quarter valued at approximately $101,000. Clinton Group Inc. acquired a new stake in shares of Two Harbors Investments Corp in the 2nd quarter valued at approximately $104,000. HighTower Advisors LLC acquired a new stake in shares of Two Harbors Investments Corp in the 1st quarter valued at approximately $106,000. Finally, Synovus Financial Corp acquired a new stake in shares of Two Harbors Investments Corp in the 2nd quarter valued at approximately $113,000. 70.46% of the stock is owned by institutional investors.
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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