Two Harbors Investment (TWO) Sees Strong Trading Volume After Dividend Announcement
Two Harbors Investment Corp (NYSE:TWO) saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 6,341,691 shares traded hands during mid-day trading, an increase of 269% from the previous session’s volume of 1,717,023 shares.The stock last traded at $16.52 and had previously closed at $16.23.
The newly announced dividend which will be paid on Friday, December 29th. Investors of record on Tuesday, December 26th will be issued a $0.47 dividend. The ex-dividend date is Friday, December 22nd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.38%. Two Harbors Investment’s dividend payout ratio is 72.76%.
TWO has been the subject of a number of research analyst reports. Zacks Investment Research cut Two Harbors Investment from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 11th. ValuEngine raised Two Harbors Investment from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 2nd. B. Riley reaffirmed a “neutral” rating on shares of Two Harbors Investment in a report on Wednesday, November 1st. Maxim Group reaffirmed a “buy” rating and issued a $17.00 price target (down from $20.50) on shares of Two Harbors Investment in a report on Thursday, November 9th. Finally, Barclays lifted their price target on Two Harbors Investment from $10.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, November 9th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.50.
Two Harbors Investment (NYSE:TWO) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.24. The business had revenue of $115.03 million during the quarter, compared to analysts’ expectations of $112.87 million. Two Harbors Investment had a return on equity of 10.27% and a net margin of 63.23%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. research analysts anticipate that Two Harbors Investment Corp will post 2.08 EPS for the current fiscal year.
In other news, Director Brian Taylor acquired 9,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average cost of $15.64 per share, for a total transaction of $148,580.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Two Harbors Investment Corp. acquired 2,395 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was purchased at an average price of $18.95 per share, with a total value of $45,385.25. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 144,144 shares of company stock valued at $2,652,253. Corporate insiders own 1.16% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TWO. Linscomb & Williams Inc. acquired a new stake in Two Harbors Investment in the second quarter worth about $100,000. Meeder Asset Management Inc. acquired a new position in shares of Two Harbors Investment during the 3rd quarter worth about $101,000. Clinton Group Inc. acquired a new position in shares of Two Harbors Investment during the 2nd quarter worth about $104,000. Synovus Financial Corp acquired a new position in shares of Two Harbors Investment during the 2nd quarter worth about $113,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of Two Harbors Investment by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,974 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 718 shares during the period.
About Two Harbors Investment
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.
Receive News & Ratings for Two Harbors Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Two Harbors Investment and related companies with MarketBeat.com's FREE daily email newsletter.