Two Harbors Investment Corp. (NYSE:TWO – Get Rating) declared a quarterly dividend on Wednesday, September 21st, Zacks reports. Shareholders of record on Monday, October 3rd will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, October 28th. This represents a $0.68 dividend on an annualized basis and a yield of 15.96%. The ex-dividend date is Friday, September 30th.
Two Harbors Investment has decreased its dividend by an average of 28.8% annually over the last three years. Two Harbors Investment has a dividend payout ratio of 87.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Two Harbors Investment to earn $0.62 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 109.7%.
Two Harbors Investment Trading Down 3.4 %
Shares of NYSE:TWO traded down $0.15 during trading on Friday, reaching $4.26. The stock had a trading volume of 36,017 shares, compared to its average volume of 2,129,560. The business has a fifty day moving average price of $5.00 and a 200-day moving average price of $5.06. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.47 billion, a P/E ratio of 7.35 and a beta of 1.59. Two Harbors Investment has a fifty-two week low of $4.26 and a fifty-two week high of $6.81.
Analyst Upgrades and Downgrades
Separately, JMP Securities reissued a “buy” rating and issued a $5.50 price objective on shares of Two Harbors Investment in a research report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.65.
Hedge Funds Weigh In On Two Harbors Investment
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Two Harbors Investment by 0.9% during the second quarter. Legal & General Group Plc now owns 1,021,380 shares of the real estate investment trust’s stock worth $5,086,000 after purchasing an additional 9,564 shares during the last quarter. Centiva Capital LP acquired a new position in Two Harbors Investment during the second quarter worth approximately $403,000. Captrust Financial Advisors acquired a new position in Two Harbors Investment during the second quarter worth approximately $96,000. Price T Rowe Associates Inc. MD increased its position in Two Harbors Investment by 1.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 266,376 shares of the real estate investment trust’s stock worth $1,327,000 after purchasing an additional 3,795 shares during the last quarter. Finally, State Street Corp increased its position in Two Harbors Investment by 2.6% during the second quarter. State Street Corp now owns 13,064,956 shares of the real estate investment trust’s stock worth $65,063,000 after purchasing an additional 332,585 shares during the last quarter. Institutional investors and hedge funds own 63.99% 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, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.
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