Two Harbors Investment Corp. (NYSE:TWO) Declares $0.45 Quarterly Dividend

Two Harbors Investment Corp. (NYSE:TWO) declared a quarterly dividend on Wednesday, March 19th, Wall Street Journal reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.45 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.01%. The ex-dividend date of this dividend is Friday, April 4th.

Two Harbors Investment has raised its dividend by an average of 38.2% annually over the last three years. Two Harbors Investment has a payout ratio of 103.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Two Harbors Investment Stock Down 0.3 %

TWO stock traded down $0.04 during trading on Thursday, reaching $13.84. 977,719 shares of the stock were exchanged, compared to its average volume of 1,051,288. The firm has a market cap of $1.44 billion, a P/E ratio of 6.56 and a beta of 1.86. The firm’s 50 day moving average is $12.96 and its 200 day moving average is $12.64. Two Harbors Investment has a twelve month low of $10.84 and a twelve month high of $14.28. The company has a current ratio of 1.09, a quick ratio of 1.07 and a debt-to-equity ratio of 0.84.

Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). Two Harbors Investment had a return on equity of 6.52% and a net margin of 66.24%. As a group, research analysts forecast that Two Harbors Investment will post 0.81 EPS for the current year.

Insider Transactions at Two Harbors Investment

In other Two Harbors Investment news, CIO Nicholas Letica sold 6,040 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $11.13, for a total value of $67,225.20. Following the completion of the sale, the executive now owns 174,672 shares of the company’s stock, valued at $1,944,099.36. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rebecca B. Sandberg sold 2,561 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $12.96, for a total transaction of $33,190.56. Following the completion of the transaction, the insider now owns 146,803 shares in the company, valued at $1,902,566.88. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,136 shares of company stock worth $377,154. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TWO has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Two Harbors Investment from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. StockNews.com upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price target on shares of Two Harbors Investment in a report on Thursday, January 23rd. Compass Point lowered their price objective on shares of Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating on the stock in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their price objective on Two Harbors Investment from $11.00 to $12.50 and gave the company a “neutral” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.96.

About Two Harbors Investment

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.