Brokerages Set Two Harbors Investments Corp (TWO) Price Target at $9.69
Shares of Two Harbors Investments Corp (NYSE:TWO) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.69.
TWO has been the topic of several analyst reports. Maxim Group restated a “buy” rating and issued a $10.25 target price on shares of Two Harbors Investments Corp in a research report on Wednesday, June 7th. BidaskClub cut Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research cut Two Harbors Investments Corp from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Credit Suisse Group initiated coverage on Two Harbors Investments Corp in a research report on Wednesday, July 5th. They issued an “outperform” rating and a $10.50 target price on the stock.
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In other news, Director Brian Taylor purchased 32,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was purchased at an average cost of $10.06 per share, with a total value of $321,920.00. Following the purchase, the director now owns 51,865 shares in the company, valued at approximately $521,761.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Two Harbors Investment Corp. purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average cost of $19.07 per share, with a total value of $476,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 110,867 shares of company stock valued at $1,774,938. 1.16% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TWO. Linscomb & Williams Inc. bought a new position in Two Harbors Investments Corp during the 2nd quarter valued at $100,000. Clinton Group Inc. bought a new position in Two Harbors Investments Corp during the 2nd quarter valued at $104,000. HighTower Advisors LLC bought a new position in Two Harbors Investments Corp during the 1st quarter valued at $106,000. Synovus Financial Corp bought a new position in Two Harbors Investments Corp during the 2nd quarter valued at $113,000. Finally, Cadence Capital Management LLC bought a new position in Two Harbors Investments Corp during the 1st quarter valued at $116,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
Two Harbors Investments Corp (NYSE TWO) traded up 0.69% during mid-day trading on Wednesday, hitting $10.19. The company had a trading volume of 2,393,689 shares. The stock’s 50 day moving average price is $10.06 and its 200 day moving average price is $9.91. Two Harbors Investments Corp has a 52-week low of $7.91 and a 52-week high of $10.54. The firm has a market cap of $3.56 billion, a P/E ratio of 6.65 and a beta of 0.59.
Two Harbors Investments Corp (NYSE:TWO) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. Two Harbors Investments Corp had a return on equity of 10.26% and a net margin of 72.15%. The firm had revenue of $117.79 million for the quarter, compared to analysts’ expectations of $123.04 million. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Two Harbors Investments Corp will post $1.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 10.21%. The ex-dividend date of this dividend is Thursday, September 28th. Two Harbors Investments Corp’s payout ratio is currently 72.73%.
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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