Two Harbors Investments Corp (TWO) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Two Harbors Investments Corp (NYSE:TWO) from a hold rating to a buy rating in a research report released on Thursday. Zacks Investment Research currently has $11.00 price target on the real estate investment trust’s stock.
According to Zacks, “Two Harbors Investment Corp is a Real Estate Investment Trust that focuses on investing in, financing and managing residential mortgage-backed securities and mortgage loans. Its objective is to provide risk-adjusted returns to investors through dividends and capital appreciation. Two Harbors intends to acquire and manage a portfolio of mortgage-backed securities, focusing on security selection and the relative value of various sectors within the mortgage market. As an investment strategy, the company expects to deploy moderate borrowings through, with respect to Agency RMBS, short-term borrowings structured as repurchase agreements and, with respect to non-Agency RMBS and residential mortgage loans, private funding sources. It may also finance portions of its portfolio through non-recourse term borrowing facilities and equity financing under the Legacy Loan Program and Term Asset-Backed Securities Lending Facility (TALF), if such financing becomes available. “
A number of other equities analysts have also recently issued reports on the company. Credit Suisse Group began coverage on Two Harbors Investments Corp in a report on Wednesday, July 5th. They issued an outperform rating and a $10.50 target price on the stock. Maxim Group reiterated a buy rating and issued a $10.25 target price on shares of Two Harbors Investments Corp in a report on Wednesday, June 7th. Finally, Wells Fargo & Company cut Two Harbors Investments Corp from an outperform rating to a market perform rating and set a $9.50 target price on the stock. in a report on Tuesday, April 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $9.84.
Shares of Two Harbors Investments Corp (TWO) opened at 9.84 on Thursday. The stock has a 50 day moving average of $10.07 and a 200-day moving average of $9.59. The firm has a market capitalization of $3.43 billion, a P/E ratio of 6.68 and a beta of 0.60. Two Harbors Investments Corp has a 12-month low of $7.91 and a 12-month high of $10.54.
Two Harbors Investments Corp (NYSE:TWO) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Two Harbors Investments Corp had a return on equity of 9.81% and a net margin of 74.05%. The company had revenue of $116.20 million for the quarter, compared to analysts’ expectations of $107.90 million. During the same period last year, the business earned $0.21 EPS. Two Harbors Investments Corp’s quarterly revenue was up 30.0% 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.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This is a boost from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 10.57%. Two Harbors Investments Corp’s dividend payout ratio (DPR) is 75.91%.
In other Two Harbors Investments Corp news, General Counsel Rebecca B. Sandberg sold 5,566 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $9.85, for a total transaction of $54,825.10. Following the transaction, the general counsel now directly owns 179,466 shares in the company, valued at approximately $1,767,740.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brad Farrell sold 19,663 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $9.86, for a total value of $193,877.18. Following the transaction, the chief financial officer now owns 410,727 shares in the company, valued at $4,049,768.22. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Opera Trading Capital bought a new position in shares of Two Harbors Investments Corp during the second quarter valued at $1,189,000. Aperio Group LLC boosted its position in shares of Two Harbors Investments Corp by 16.1% in the second quarter. Aperio Group LLC now owns 818,496 shares of the real estate investment trust’s stock valued at $8,111,000 after buying an additional 113,649 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Two Harbors Investments Corp by 25.0% in the second quarter. Nisa Investment Advisors LLC now owns 105,500 shares of the real estate investment trust’s stock valued at $1,051,000 after buying an additional 21,100 shares during the period. James Investment Research Inc. boosted its position in shares of Two Harbors Investments Corp by 1,253.5% in the second quarter. James Investment Research Inc. now owns 217,580 shares of the real estate investment trust’s stock valued at $2,156,000 after buying an additional 201,505 shares during the period. Finally, Creative Planning boosted its position in shares of Two Harbors Investments Corp by 6.8% in the second quarter. Creative Planning now owns 31,455 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 2,009 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.
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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