Two Harbors Investments Corp (NYSE:TWO) Plans $0.34 Quarterly Dividend
by Sarita Garza · The Markets DailyTwo Harbors Investments Corp (NYSE:TWO – Get Free Report) announced a quarterly dividend on Thursday, March 19th. Investors of record on Thursday, April 2nd will be given a dividend of 0.34 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Thursday, April 2nd.
Two Harbors Investments has decreased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Two Harbors Investments has a dividend payout ratio of 90.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.
Two Harbors Investments Stock Performance
Shares of TWO stock opened at $10.79 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.21 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Two Harbors Investments has a 52 week low of $8.78 and a 52 week high of $14.17. The firm’s 50-day simple moving average is $11.31 and its two-hundred day simple moving average is $10.49.
Two Harbors Investments (NYSE:TWO – Get Free Report) last released its earnings results on Monday, February 2nd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Two Harbors Investments had a negative net margin of 109.90% and a positive return on equity of 12.00%. The company had revenue of $182.18 million during the quarter, compared to analysts’ expectations of ($15.44) million. As a group, equities analysts forecast that Two Harbors Investments will post 0.81 earnings per share for the current year.
Insider Activity at Two Harbors Investments
In other news, CFO William Dellal sold 7,087 shares of Two Harbors Investments stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $11.44, for a total value of $81,075.28. Following the completion of the transaction, the chief financial officer directly owned 36,703 shares in the company, valued at approximately $419,882.32. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,169 shares of company stock valued at $143,991 over the last three months. 0.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in TWO. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Two Harbors Investments in the third quarter worth about $25,000. Quarry LP grew its stake in Two Harbors Investments by 695.6% during the third quarter. Quarry LP now owns 3,421 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,991 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Two Harbors Investments by 34.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,825 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 981 shares in the last quarter. Advisory Services Network LLC bought a new stake in Two Harbors Investments during the 3rd quarter worth approximately $42,000. Finally, CWM LLC lifted its stake in Two Harbors Investments by 456.0% in the 3rd quarter. CWM LLC now owns 5,465 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 4,482 shares in the last quarter. Institutional investors own 64.19% of the company’s stock.
About Two Harbors Investments
Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.
Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.