Two Harbors Investment Corp (NYSE:TWO) announced a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Investors of record on Friday, September 29th will be paid a dividend of 0.26 per share by the real estate investment trust on Friday, October 27th. This represents a $1.04 annualized dividend and a yield of 10.33%. The ex-dividend date is Thursday, September 28th.
Two Harbors Investment Corp has decreased its dividend by an average of 18.0% per year over the last three years. Two Harbors Investment Corp has a dividend payout ratio of 97.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Two Harbors Investment Corp to earn $1.00 per share next year, which means the company may not be able to cover its $1.04 annual dividend with an expected future payout ratio of 104.0%.
Shares of Two Harbors Investment Corp (TWO) traded up 0.30% during midday trading on Friday, reaching $10.07. 3,824,102 shares of the company traded hands. The company has a 50 day moving average price of $10.03 and a 200 day moving average price of $9.89. Two Harbors Investment Corp has a 1-year low of $7.91 and a 1-year high of $10.54. The company has a market capitalization of $3.51 billion, a PE ratio of 6.57 and a beta of 0.59.
Two Harbors Investment Corp (NYSE:TWO) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. Two Harbors Investment Corp had a net margin of 3.61% and a return on equity of 0.50%. The firm had revenue of $117.79 million during the quarter, compared to analyst estimates of $123.04 million. During the same quarter in the previous year, the business posted $0.22 EPS. Two Harbors Investment Corp’s revenue was up 16.8% on a year-over-year basis. On average, analysts expect that Two Harbors Investment Corp will post $1.07 earnings per share for the current year.
In related news, major shareholder Two Harbors Investment Corp. acquired 14,772 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $19.10 per share, with a total value of $282,145.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Siering acquired 5,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $10.14 per share, for a total transaction of $50,700.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 80,212 shares of company stock valued at $1,197,219. Insiders own 1.16% of the company’s stock.
An institutional investor recently raised its position in Two Harbors Investment Corp stock. The Manufacturers Life Insurance Company grew its stake in shares of Two Harbors Investment Corp (NYSE:TWO) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,974 shares of the real estate investment trust’s stock after purchasing an additional 718 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Two Harbors Investment Corp were worth $119,000 at the end of the most recent reporting period. Institutional investors own 70.22% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Two Harbors Investment Corp from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, July 20th. Credit Suisse Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Two Harbors Investment Corp in a report on Thursday, August 10th. Maxim Group reissued a “buy” rating and set a $10.25 price target on shares of Two Harbors Investment Corp in a report on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Two Harbors Investment Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.95.
Two Harbors Investment 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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