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% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Two Harbors Investment has a dividend payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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%.
Shares of TWO stock traded down $0.01 during mid-day trading on Friday, hitting $13.43. The stock had a trading volume of 1,591,739 shares, compared to its average volume of 1,772,462. Two Harbors Investment has a 12-month low of $12.06 and a 12-month high of $15.36. The firm has a market capitalization of $3.67 billion, a P/E ratio of 6.82 and a beta of 0.64. The firm’s 50-day moving average is $13.17 and its two-hundred day moving average is $13.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.12 and a quick ratio of 1.12.
In other news, CEO Thomas Siering acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $13.11 per share, with a total value of $65,550.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Hammond acquired 5,600 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $13.30 per share, for a total transaction of $74,480.00. Following the completion of the acquisition, the director now directly owns 47,262 shares of the company’s stock, valued at approximately $628,584.60. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company’s stock.
TWO has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Nomura set a $14.00 price objective on Two Harbors Investment and gave the stock a “hold” rating in a research note on Wednesday, August 7th. ValuEngine upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. 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. Finally, Raymond James set a $15.00 price objective on Two Harbors Investment and gave the stock a “buy” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Two Harbors Investment has a consensus rating of “Hold” and an average target price of $14.81.
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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