Royal Bank of Canada started coverage on shares of Two Harbors Investment (NYSE:TWO) in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $15.00 price objective on the real estate investment trust’s stock.
TWO has been the subject of several other research reports. Nomura set a $14.00 price target on shares of Two Harbors Investment and gave the company a hold rating in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Two Harbors Investment from a sell rating to a hold rating in a research report on Friday, September 27th. Raymond James set a $15.00 price target on shares of Two Harbors Investment and gave the company a buy rating in a research report on Wednesday, August 21st. ValuEngine raised shares of Two Harbors Investment from a sell rating to a hold rating in a research report on Friday, August 23rd. Finally, Maxim Group reissued a buy rating and set a $15.00 price target on shares of Two Harbors Investment in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Two Harbors Investment presently has an average rating of Buy and a consensus target price of $14.83.
Shares of NYSE TWO traded up $0.03 on Wednesday, reaching $13.22. 1,219,658 shares of the company’s stock traded hands, compared to its average volume of 2,574,383. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 6.71 and a beta of 0.63. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $13.16 and its two-hundred day simple moving average is $13.20. Two Harbors Investment has a 12 month low of $12.06 and a 12 month high of $14.86.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Monday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 12.10%. The ex-dividend date of this dividend is Friday, September 27th. Two Harbors Investment’s dividend payout ratio (DPR) is currently 81.22%.
In related news, CEO Thomas Siering bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $13.11 per share, with a total value of $65,550.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karen Hammond bought 5,600 shares of the business’s stock in a transaction on 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 transaction, the director now owns 47,262 shares in the company, valued at approximately $628,584.60. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.
A number of large investors have recently bought and sold shares of TWO. Phocas Financial Corp. bought a new stake in Two Harbors Investment in the 2nd quarter worth approximately $27,000. Sandy Spring Bank bought a new stake in Two Harbors Investment in the 2nd quarter worth approximately $32,000. Advisory Services Network LLC grew its position in Two Harbors Investment by 1,900.0% in the 1st quarter. Advisory Services Network LLC now owns 4,000 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 3,800 shares during the period. Point72 Asset Management L.P. bought a new stake in Two Harbors Investment in the 2nd quarter worth approximately $76,000. Finally, CENTRAL TRUST Co grew its position in Two Harbors Investment by 300.7% in the 2nd quarter. CENTRAL TRUST Co now owns 6,663 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 5,000 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.
Two Harbors Investment Company Profile
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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