Two Harbors Investment Corp (NYSE:TWO) announced a dividend on Thursday, September 19th, Fidelity reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.40 per share by the real estate investment trust on Monday, October 28th. The ex-dividend date is Friday, September 27th.
Two Harbors Investment has decreased its dividend by an average of 12.2% annually over the last three years and has increased its dividend every year for the last 2 years. Two Harbors Investment has a payout ratio of 84.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Two Harbors Investment to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 95.2%.
NYSE TWO traded down $0.01 on Friday, hitting $13.43. 1,591,739 shares of the stock traded hands, compared to its average volume of 1,772,462. The stock has a 50-day moving average of $13.17 and a 200 day moving average of $13.24. Two Harbors Investment has a twelve month low of $12.06 and a twelve month high of $15.36. The company has a market capitalization of $3.67 billion, a P/E ratio of 6.82 and a beta of 0.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.09.
Two Harbors Investment (NYSE:TWO) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.03). Two Harbors Investment had a negative net margin of 57.33% and a positive return on equity of 13.49%. The firm had revenue of $68.59 million for the quarter, compared to analyst estimates of $63.20 million. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, equities research analysts expect that Two Harbors Investment will post 1.64 earnings per share for the current year.
Several analysts have issued reports on TWO shares. Raymond James set a $15.00 price objective on Two Harbors Investment and gave the company a “buy” rating in a research note on Wednesday, August 21st. Maxim Group restated a “buy” rating and set a $15.00 price objective on shares of Two Harbors Investment in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price objective on Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Nomura set a $14.00 price objective on Two Harbors Investment and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.81.
In related news, Director Karen Hammond bought 5,600 shares of the stock in a transaction dated Thursday, August 22nd. The stock was bought at an average cost of $13.30 per share, with a total value of $74,480.00. Following the completion of the acquisition, the director now owns 47,262 shares of the company’s stock, valued at $628,584.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Siering bought 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $13.11 per share, with a total value of $65,550.00. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.
About Two Harbors Investment
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.
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