Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Two Harbors Investment from $15.00 to $16.50 and gave the stock a $15.84 rating in a research report on Monday, July 23rd. Zacks Investment Research upgraded shares of Two Harbors Investment from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Saturday, October 27th. Compass Point set a $16.00 price objective on shares of Two Harbors Investment and gave the stock a buy rating in a research report on Thursday, August 9th. Deutsche Bank downgraded shares of Two Harbors Investment from a buy rating to a hold rating in a research report on Tuesday, July 24th. Finally, Raymond James initiated coverage on shares of Two Harbors Investment in a research report on Thursday, October 11th. They set an outperform rating and a $16.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Two Harbors Investment presently has a consensus rating of Buy and an average price target of $16.29.
Two Harbors Investment stock traded up $0.18 during midday trading on Thursday, reaching $14.46. 2,104,279 shares of the company’s stock were exchanged, compared to its average volume of 1,971,910. Two Harbors Investment has a 52 week low of $13.85 and a 52 week high of $16.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $3.67 billion, a P/E ratio of 6.95 and a beta of 0.31.
The business also recently disclosed a special dividend, which was paid on Monday, October 29th. Shareholders of record on Monday, October 1st were given a dividend of $0.3116 per share. The ex-dividend date was Friday, September 28th. This is an increase from Two Harbors Investment’s previous special dividend of $0.16. This represents a yield of 12.34%. Two Harbors Investment’s dividend payout ratio (DPR) is 60.10%.
In other news, Director James J. Bender sold 3,460 shares of Two Harbors Investment stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $15.60, for a total value of $53,976.00. Following the completion of the sale, the director now directly owns 24,065 shares in the company, valued at $375,414. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Siering purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average price of $15.41 per share, with a total value of $77,050.00. The disclosure for this purchase can be found here. Company insiders own 1.41% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TWO. James Investment Research Inc. acquired a new stake in shares of Two Harbors Investment in the second quarter valued at approximately $118,000. Bank of Montreal Can acquired a new stake in shares of Two Harbors Investment in the second quarter valued at approximately $135,000. Financial Counselors Inc. acquired a new stake in shares of Two Harbors Investment in the second quarter valued at approximately $168,000. GW Henssler & Associates Ltd. acquired a new stake in shares of Two Harbors Investment in the third quarter valued at approximately $168,000. Finally, BLB&B Advisors LLC acquired a new stake in shares of Two Harbors Investment in the second quarter valued at approximately $173,000. Institutional investors own 47.77% of the company’s stock.
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, hybrid mortgage loans, or derivatives; 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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