Analysts Set Two Harbors Investments Corp (TWO) Target Price at $9.69

Two Harbors Investments Corp (NYSE:TWO) has received an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $9.69.

TWO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Two Harbors Investments Corp from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Tuesday, April 4th. Maxim Group reaffirmed a “buy” rating and issued a $10.25 target price on shares of Two Harbors Investments Corp in a research report on Wednesday, June 7th. Wells Fargo & Company downgraded shares of Two Harbors Investments Corp from an “outperform” rating to a “market perform” rating and set a $9.50 target price for the company. in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Finally, Credit Suisse Group initiated coverage on shares of Two Harbors Investments Corp in a research report on Wednesday, July 5th. They issued an “outperform” rating and a $10.50 target price for the company.

Two Harbors Investments Corp (NYSE:TWO) traded up 0.255% during trading on Friday, hitting $9.815. The stock had a trading volume of 2,208,753 shares. The stock’s 50-day moving average price is $10.11 and its 200-day moving average price is $9.49. Two Harbors Investments Corp has a 1-year low of $7.91 and a 1-year high of $10.54. The company has a market capitalization of $3.42 billion, a P/E ratio of 6.663 and a beta of 0.60.

Two Harbors Investments Corp (NYSE:TWO) last announced its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $116.20 million during the quarter, compared to the consensus estimate of $107.90 million. Two Harbors Investments Corp had a net margin of 74.05% and a return on equity of 9.81%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Analysts expect that Two Harbors Investments Corp will post $1.06 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Friday, June 30th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 10.57%. The ex-dividend date is Wednesday, June 28th. This is an increase from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. Two Harbors Investments Corp’s payout ratio is 75.91%.

In other news, General Counsel Rebecca B. Sandberg sold 5,566 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $9.85, for a total transaction of $54,825.10. Following the completion of the sale, the general counsel now owns 179,466 shares of the company’s stock, valued at approximately $1,767,740.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brad Farrell sold 19,663 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $9.86, for a total transaction of $193,877.18. Following the sale, the chief financial officer now directly owns 410,727 shares of the company’s stock, valued at approximately $4,049,768.22. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Two Harbors Investments Corp during the fourth quarter worth about $26,958,000. Boston Partners increased its stake in shares of Two Harbors Investments Corp by 21.8% in the first quarter. Boston Partners now owns 7,244,328 shares of the real estate investment trust’s stock worth $69,473,000 after buying an additional 1,295,633 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Two Harbors Investments Corp by 4.0% in the first quarter. Vanguard Group Inc. now owns 28,170,629 shares of the real estate investment trust’s stock worth $270,156,000 after buying an additional 1,095,212 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Two Harbors Investments Corp by 75.8% in the first quarter. Global X Management Co. LLC now owns 1,888,979 shares of the real estate investment trust’s stock worth $18,115,000 after buying an additional 814,751 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Two Harbors Investments Corp during the first quarter worth about $6,759,000. 70.65% of the stock is owned by hedge funds and other institutional investors.

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About Two Harbors Investments Corp

Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.

Analyst Recommendations for Two Harbors Investments Corp (NYSE:TWO)

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