Two Harbors Investment (NYSE:TWO) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Two Harbors Investment (NYSE:TWO) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.15, Yahoo Finance reports. Two Harbors Investment had a net margin of 27.71% and a return on equity of 3.65%. The company had revenue of $115.95 million for the quarter. During the same period in the prior year, the firm earned ($0.04) EPS.

Two Harbors Investment Price Performance

Shares of NYSE TWO opened at $13.49 on Thursday. The firm’s 50-day moving average price is $13.18 and its 200-day moving average price is $12.91. Two Harbors Investment has a 1-year low of $9.83 and a 1-year high of $14.59. The firm has a market capitalization of $1.40 billion, a P/E ratio of 7.57 and a beta of 1.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.99.

Two Harbors Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, July 5th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.80 annualized dividend and a dividend yield of 13.34%. Two Harbors Investment’s dividend payout ratio is currently 101.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TWO. StockNews.com raised shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Two Harbors Investment from $12.50 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JMP Securities restated a “market outperform” rating and issued a $15.00 target price on shares of Two Harbors Investment in a report on Friday, June 7th. Finally, UBS Group upgraded shares of Two Harbors Investment from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.50 to $14.50 in a report on Friday, June 7th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Two Harbors Investment presently has a consensus rating of “Hold” and an average target price of $14.64.

Insider Activity

In related news, CEO William Ross Greenberg sold 8,170 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $12.68, for a total value of $103,595.60. Following the sale, the chief executive officer now owns 255,909 shares in the company, valued at approximately $3,244,926.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Mary Kathryn Riskey sold 3,870 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $12.68, for a total value of $49,071.60. Following the sale, the chief financial officer now owns 79,735 shares in the company, valued at approximately $1,011,039.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Ross Greenberg sold 8,170 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $12.68, for a total transaction of $103,595.60. Following the completion of the sale, the chief executive officer now owns 255,909 shares in the company, valued at approximately $3,244,926.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,335 shares of company stock worth $376,316. Company insiders own 0.61% of the company’s stock.

Two Harbors Investment Company Profile

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.