Two Harbors Investment Corp (NYSE:TWO) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 9,637,200 shares, an increase of 26.5% from the May 30th total of 7,618,600 shares. Based on an average daily volume of 2,970,000 shares, the days-to-cover ratio is presently 3.2 days. Currently, 3.9% of the company’s stock are short sold.
Shares of NYSE:TWO opened at $13.13 on Friday. Two Harbors Investment has a 1-year low of $12.06 and a 1-year high of $16.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 1.31. The firm’s fifty day moving average is $12.65. The company has a market capitalization of $3.58 billion, a P/E ratio of 6.60 and a beta of 0.63.
Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Two Harbors Investment had a positive return on equity of 14.23% and a negative net margin of 35.93%. The firm had revenue of $82.00 million during the quarter, compared to the consensus estimate of $84.64 million. During the same period last year, the company earned $0.48 earnings per share. The company’s revenue was down 15.8% on a year-over-year basis. On average, analysts expect that Two Harbors Investment will post 1.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 12.19%. Two Harbors Investment’s payout ratio is presently 81.22%.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Nomura decreased their price objective on Carnival from $66.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Two Harbors Investment currently has a consensus rating of “Hold” and an average price target of $15.89.
Several large investors have recently modified their holdings of TWO. Norges Bank bought a new position in shares of Two Harbors Investment during the fourth quarter valued at $37,166,000. Federated Investors Inc. PA purchased a new stake in shares of Two Harbors Investment during the first quarter valued at $33,825,000. Delphi Financial Group Inc. boosted its position in shares of Two Harbors Investment by 58.6% during the first quarter. Delphi Financial Group Inc. now owns 3,907,185 shares of the real estate investment trust’s stock valued at $52,864,000 after buying an additional 1,443,530 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Two Harbors Investment by 1,042.7% during the fourth quarter. APG Asset Management N.V. now owns 1,113,553 shares of the real estate investment trust’s stock valued at $12,508,000 after buying an additional 1,016,100 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Two Harbors Investment by 20.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 4,256,825 shares of the real estate investment trust’s stock valued at $57,594,000 after buying an additional 712,925 shares during the last quarter. Hedge funds and other institutional investors own 62.10% of the company’s stock.
About Two Harbors Investment
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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