Two Harbors Investments (NYSE:TWO) Reaches New 52-Week High – Here’s Why

Two Harbors Investments Corp (NYSE:TWO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $12.07 and last traded at $12.0650, with a volume of 231232 shares. The stock had previously closed at $12.03.

Analyst Ratings Changes

Several research analysts have recently weighed in on TWO shares. Royal Bank Of Canada lifted their target price on shares of Two Harbors Investments from $11.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Zacks Research upgraded shares of Two Harbors Investments from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Two Harbors Investments in a research note on Friday, July 24th. Compass Point reiterated a “neutral” rating and set a $13.00 price objective on shares of Two Harbors Investments in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Two Harbors Investments from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.75.

Two Harbors Investments Price Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $1.27 billion, a PE ratio of -16.30 and a beta of 1.04. The stock has a 50 day moving average price of $12.21 and a two-hundred day moving average price of $11.68.

Two Harbors Investments (NYSE:TWO) last announced its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.28. Two Harbors Investments had a positive return on equity of 12.79% and a negative net margin of 6.09%.The company had revenue of $247.57 million during the quarter, compared to analysts’ expectations of $9.45 million. Equities analysts forecast that Two Harbors Investments Corp will post 0.89 earnings per share for the current year.

Two Harbors Investments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were paid a $0.34 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 11.3%. Two Harbors Investments’s dividend payout ratio (DPR) is presently -64.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new stake in Two Harbors Investments during the second quarter valued at about $531,000. Global Retirement Partners LLC acquired a new stake in shares of Two Harbors Investments in the second quarter valued at about $36,000. Bank of New York Mellon Corp bought a new position in shares of Two Harbors Investments in the second quarter worth about $7,600,000. GAMMA Investing LLC increased its stake in shares of Two Harbors Investments by 37.8% in the second quarter. GAMMA Investing LLC now owns 7,162 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 1,964 shares during the period. Finally, Ballast Advisors LLC acquired a new position in shares of Two Harbors Investments during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 64.19% of the company’s stock.

About Two Harbors Investments

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.