Two Harbors Investment Corp. (TWO) to Issue Quarterly Dividend of $0.45 on July 29th

Two Harbors Investment Corp. (NYSE:TWO) declared a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Friday, July 5th will be paid a dividend of 0.45 per share by the real estate investment trust on Monday, July 29th. This represents a $1.80 annualized dividend and a yield of 13.66%. The ex-dividend date of this dividend is Friday, July 5th.

Two Harbors Investment has raised its dividend by an average of 1,259.4% per year over the last three years. Two Harbors Investment has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Two Harbors Investment to earn ($0.17) per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of -1,058.8%.

Two Harbors Investment Stock Performance

Shares of NYSE TWO opened at $13.18 on Wednesday. The company has a 50 day simple moving average of $12.89 and a two-hundred day simple moving average of $12.97. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 7.40 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 has a 12 month low of $9.83 and a 12 month high of $14.59.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group raised shares of Two Harbors Investment from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.50 to $14.50 in a report on Friday, June 7th. JPMorgan Chase & Co. dropped their target price on Two Harbors Investment from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. StockNews.com raised Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of Two Harbors Investment in a research note on Friday, June 7th. Finally, Jonestrading started coverage on shares of Two Harbors Investment in a research note on Friday, March 22nd. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.57.

Insider Activity

In related news, insider Rebecca B. Sandberg sold 4,505 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $12.68, for a total value of $57,123.40. Following the completion of the sale, the insider now owns 112,894 shares of the company’s stock, valued at approximately $1,431,495.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Rebecca B. Sandberg sold 4,505 shares of Two Harbors Investment stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $12.68, for a total value of $57,123.40. Following the sale, the insider now directly owns 112,894 shares in the company, valued at approximately $1,431,495.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Ross Greenberg sold 8,170 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $12.68, for a total value of $103,595.60. Following the transaction, the chief executive officer now directly owns 255,909 shares of the company’s stock, valued at approximately $3,244,926.12. The disclosure for this sale can be found here. Insiders have sold 29,335 shares of company stock worth $376,316 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.