Shares of Two Harbors Investment Corp. (NYSE:TWO – Get Rating) are expected to undergo a reverse split before the market opens on Wednesday, November 2. The 1-4 reverse split was announced on Wednesday, November 2. The number of shares held by shareholders will be adjusted after the closing bell on Wednesday 2 November.
Two Harbors investments fall 3.4%
Shares of Two Harbors Investment opened at $3.14 on Monday. The company has a market capitalization of $1.08 billion, a price-earnings ratio of 5.23 and a beta of 1.67. Two Harbors Investment has a fifty-two-week low of $3.03 and a fifty-two-week high of $6.81. The company has a debt ratio of 0.62, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50-day moving average of $4.46 and a 200-day moving average of $4.84.
Two Harbors Investment Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28. Shareholders of record on Monday, October 3 will receive a dividend of $0.17 per share. This represents a dividend of $0.68 on an annualized basis and a yield of 21.66%. The ex-dividend date is Friday, September 30. Two Harbors Investment’s dividend payout ratio (DPR) is 113.33%.
Analysts set new price targets
A number of research analysts have commented on TWO stocks. JMP Securities restated a “buy” rating and set a price target of $5.50 on shares of Two Harbors Investment in a Wednesday, July 6 research note. Credit Suisse Group lowered its price target on Two Harbors Investment to $4.25 in a research note on Thursday. Royal Bank of Canada cut its price target on Two Harbors Investment from $5.50 to $4.50 and set an “outperform” rating for the stock in a Wednesday, Oct. 5 research note. Finally, StockNews.com kicked off coverage of Two Harbors Investment in a Wednesday, October 12 research note. They issued a “hold” rating on the stock. Four analysts gave the stock a hold rating and two gave the company a buy rating. According to MarketBeat.com, Two Harbors Investment currently has an average rating of “Hold” and an average price target of $4.95.
Hedge funds weigh on investment from two ports
Major investors have recently been buying and selling shares of the company. CoreCap Advisors LLC bought a new position in Two Harbors Investment in the second quarter worth $26,000. SeaCrest Wealth Management LLC purchased a new stock position of Two Harbors Investment during the second quarter for a value of approximately $28,000. Meeder Asset Management Inc. increased its holdings of Two Harbors Investment shares by 110.0% during the second quarter. Meeder Asset Management Inc. now owns 6,669 shares of the real estate investment trust worth $33,000 after buying 3,493 additional shares in the last quarter. SOL Capital Management CO bought a new stock position in Two Harbors Investment during the third quarter worth approximately $33,000. Finally, GPS Wealth Strategies Group LLC purchased a new stock position in Two Harbors Investment during the first quarter worth approximately $39,000. Hedge funds and other institutional investors hold 63.99% of the company’s shares.
About Two Harbors Investment
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Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing, funding and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights and others financial assets in the United States. States. Its target assets include agency RMBS secured by fixed rate mortgages, adjustable rate mortgages and hybrid adjustable rate mortgages (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.
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