Two Harbors Investments Corp (NYSE:TWO) to Issue $0.39 Quarterly Dividend

Two Harbors Investments Corp (NYSE:TWO - Get Free Report) announced a quarterly dividend on Friday, June 20th, Wall Street Journal reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 0.39 per share by the real estate investment trust on Tuesday, July 29th. This represents a $1.56 annualized dividend and a yield of 14.97%. The ex-dividend date is Thursday, July 3rd.

Two Harbors Investments has a payout ratio of 120.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Two Harbors Investments Trading Down 3.0%

Shares of TWO stock traded down $0.32 on Friday, hitting $10.42. The stock had a trading volume of 2,888,196 shares, compared to its average volume of 1,287,800. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77. Two Harbors Investments has a twelve month low of $10.16 and a twelve month high of $14.28. The company has a fifty day moving average price of $11.25 and a two-hundred day moving average price of $12.09. The firm has a market cap of $1.08 billion, a P/E ratio of -20.40 and a beta of 1.27.

Two Harbors Investments (NYSE:TWO - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.04). The business had revenue of ($20.33) million during the quarter, compared to analyst estimates of ($28.53) million. Two Harbors Investments had a net margin of 3.50% and a return on equity of 8.06%. As a group, analysts forecast that Two Harbors Investments will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TWO. Keefe, Bruyette & Woods increased their price objective on shares of Two Harbors Investments from $12.95 to $13.25 and gave the stock a "market perform" rating in a research report on Wednesday, April 30th. Wall Street Zen cut Two Harbors Investments from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group boosted their price target on Two Harbors Investments from $12.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JMP Securities reduced their price objective on Two Harbors Investments from $14.00 to $13.50 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada dropped their target price on Two Harbors Investments from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. One 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $13.14.

Institutional Investors Weigh In On Two Harbors Investments

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its stake in Two Harbors Investments by 10.6% in the 1st quarter. Millennium Management LLC now owns 1,206,549 shares of the real estate investment trust's stock valued at $16,119,000 after acquiring an additional 115,698 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Two Harbors Investments by 24.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 144,670 shares of the real estate investment trust's stock valued at $1,933,000 after purchasing an additional 28,535 shares during the period. Intech Investment Management LLC lifted its stake in shares of Two Harbors Investments by 54.4% during the 1st quarter. Intech Investment Management LLC now owns 91,847 shares of the real estate investment trust's stock worth $1,227,000 after buying an additional 32,361 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Two Harbors Investments during the 1st quarter worth about $344,000. 64.19% of the stock is currently owned by institutional investors and hedge funds.

About Two Harbors Investments

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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