Two Harbors Investment Corp. (TWO) To Go Ex-Dividend on October 1st

Two Harbors Investment Corp. (NYSE:TWO) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Stockholders of record on Tuesday, October 1st will be given a dividend of 0.45 per share by the real estate investment trust on Tuesday, October 29th. This represents a $1.80 annualized dividend and a dividend yield of 12.91%. The ex-dividend date is Tuesday, October 1st.

Two Harbors Investment has raised its dividend payment by an average of 1,259.4% per year over the last three years. Two Harbors Investment has a payout ratio of 104.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Two Harbors Investment to earn $0.82 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 219.5%.

Two Harbors Investment Stock Down 1.1 %

Shares of NYSE TWO opened at $13.94 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.97. The firm has a market cap of $1.44 billion, a PE ratio of 7.83 and a beta of 1.86. The company’s fifty day simple moving average is $13.73 and its 200 day simple moving average is $13.12. Two Harbors Investment has a 12-month low of $9.83 and a 12-month high of $14.59.

Two Harbors Investment (NYSE:TWO) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. Two Harbors Investment had a net margin of 27.71% and a return on equity of 3.64%. The company had revenue of $115.95 million for the quarter. During the same period last year, the company earned ($0.04) EPS. As a group, sell-side analysts forecast that Two Harbors Investment will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TWO has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on Two Harbors Investment from $12.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Janney Montgomery Scott began coverage on Two Harbors Investment in a research note on Friday, August 16th. They set a “buy” rating and a $15.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $15.00 target price on shares of Two Harbors Investment in a research note on Wednesday, August 28th. StockNews.com lowered shares of Two Harbors Investment from a “hold” rating to a “sell” rating in a research report on Friday. Finally, UBS Group raised shares of Two Harbors Investment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.50 to $14.50 in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.90.

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.