Two Harbors Investment Corp (NYSE:TWO) announced a dividend on Thursday, September 19th, Fidelity reports. Shareholders of record on Monday, September 30th will be given 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 payment 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 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 fall. Equities research 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%.
TWO stock traded down $0.01 during midday trading on Friday, hitting $13.43. 1,591,739 shares of the company’s stock were exchanged, compared to its average volume of 1,772,462. The business has a 50-day simple moving average of $13.17 and a two-hundred day simple moving average of $13.24. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.67 billion, a PE 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.
TWO has been the subject of several recent analyst reports. Maxim Group reissued a “buy” rating and set a $15.00 target price on shares of Two Harbors Investment in a research note on Thursday, August 8th. Raymond James set a $15.00 target price on Two Harbors Investment and gave the stock a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Nomura set a $14.00 target price on Two Harbors Investment and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Two Harbors Investment presently has a consensus rating of “Hold” and a consensus target price of $14.81.
In other news, Director Karen Hammond acquired 5,600 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $13.30 per share, with a total value of $74,480.00. Following the completion of the purchase, the director now owns 47,262 shares of the company’s stock, valued at approximately $628,584.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Siering acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $13.11 per share, with a total value of $65,550.00. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.
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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