Two Harbors Investment Corp. (NYSE:TWO - Get Free Report) shares traded down 4.4% during mid-day trading on Friday . The company traded as low as $10.56 and last traded at $10.64. 647,206 shares traded hands during trading, a decline of 48% from the average session volume of 1,240,556 shares. The stock had previously closed at $11.12.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Two Harbors Investment from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on Two Harbors Investment from $12.50 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods raised their price target on Two Harbors Investment from $12.95 to $13.25 and gave the company a "market perform" rating in a report on Wednesday, April 30th. UBS Group lifted their price objective on Two Harbors Investment from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada cut their target price on shares of Two Harbors Investment from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.14.
View Our Latest Research Report on TWO
Two Harbors Investment Trading Up 2.7%
The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 4.98 and a beta of 1.33. The business's fifty day moving average is $11.60 and its 200 day moving average is $12.18. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 0.84.
Two Harbors Investment (NYSE:TWO - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). The firm had revenue of ($20.33) million during the quarter, compared to analyst estimates of ($28.53) million. Two Harbors Investment had a net margin of 66.24% and a return on equity of 6.52%. Equities analysts predict that Two Harbors Investment Corp. will post 0.81 earnings per share for the current year.
Two Harbors Investment Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Friday, April 4th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 17.12%. The ex-dividend date was Friday, April 4th. Two Harbors Investment's payout ratio is -352.94%.
Hedge Funds Weigh In On Two Harbors Investment
A number of large investors have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of Two Harbors Investment by 1,052.4% in the fourth quarter. Millennium Management LLC now owns 1,090,851 shares of the real estate investment trust's stock valued at $12,905,000 after purchasing an additional 996,188 shares during the last quarter. Invesco Ltd. increased its stake in Two Harbors Investment by 28.6% in the 4th quarter. Invesco Ltd. now owns 2,154,757 shares of the real estate investment trust's stock valued at $25,491,000 after buying an additional 478,958 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Two Harbors Investment by 19.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,313,837 shares of the real estate investment trust's stock valued at $27,373,000 after buying an additional 371,436 shares during the last quarter. Vanguard Group Inc. lifted its position in Two Harbors Investment by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 11,490,101 shares of the real estate investment trust's stock worth $135,928,000 after buying an additional 329,762 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Two Harbors Investment during the 4th quarter worth about $3,898,000. Institutional investors and hedge funds own 64.19% of the company's stock.
About Two Harbors Investment
(
Get Free Report)
Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.
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