Two Harbors Investment Corp (NYSE:TWO) Declares Dividend of $0.40
Two Harbors Investment Corp (NYSE:TWO) announced a dividend on Thursday, September 19th, Fidelity reports. Stockholders 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 tumble. 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 traded down $0.01 during mid-day trading on Friday, reaching $13.43. The company’s stock had a trading volume of 1,591,739 shares, compared to its average volume of 1,772,462. The business has a fifty day moving average of $13.17 and a 200 day moving average of $13.24. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 6.82 and a beta of 0.64. Two Harbors Investment has a 1 year low of $12.06 and a 1 year high of $15.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.09.
In related news, CEO Thomas Siering bought 5,000 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average price of $13.11 per share, for a total transaction of $65,550.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Hammond bought 5,600 shares of Two Harbors Investment stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average price of $13.30 per share, with a total value of $74,480.00. Following the purchase, the director now owns 47,262 shares of the company’s stock, valued at approximately $628,584.60. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Several equities research analysts have recently issued reports on TWO shares. Maxim Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of Two Harbors Investment in a research report on Thursday, August 8th. ValuEngine raised Two Harbors Investment from a “sell” rating to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lowered their price target on Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Nomura set a $14.00 price target on Two Harbors Investment and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Raymond James set a $15.00 price target on Two Harbors Investment and gave the company a “buy” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.81.
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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