Two Harbors Investment Corp (TWO) was Reiterated by Maxim Group to “Buy” while Lowering the Price Target of the company shares to $ 10 from a previous price target of $10.50 . Maxim Group advised their investors in a research report released on May 6, 2016.
On the company’s financial health, Two Harbors Investment Corp reported $0.21 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $89.40 million for the quarter, compared to analysts expectations of $97.95 million. The company’s revenue was down -30.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.
Two Harbors Investment Corp opened for trading at $7.65 and hit $7.79 on the upside on Wednesday, eventually ending the session at $7.78, with a gain of 1.30% or 0.1 points. The heightened volatility saw the trading volume jump to 47,46,585 shares. Company has a market cap of $2,704 M.
In a different news, on Feb 18, 2016, Mary Kathryn Riskey (Chief Accounting Officer) sold 1,367 shares at $7.29 per share price. According to the SEC, on Feb 16, 2016, Thomas Siering (CEO) purchased 5,000 shares at $7.15 per share price. On Feb 10, 2016, Brad Farrell (CFO and Treasurer) sold 13,825 shares at $7.36 per share price, according to the Form-4 filing with the securities and exchange commission.
Two Harbors Investment Corp. (Two Harbors) operates as a real estate investment trust (REIT). The Company’s investment objective is to provide risk-adjusted total return to its stockholders over the long-term primarily through dividends and secondarily through capital appreciation. Its target assets include Agency residential mortgage-backed securities (RMBS) (which includes inverse interest-only Agency securities classified as Agency Derivatives) meaning RMBS whose principal and interest payments are guaranteed by Ginnie Mae Fannie Mae or Freddie Mac; Non-Agency RMBS meaning RMBS that are not issued or guaranteed by Ginnie Mae Fannie Mae or Freddie Mac; Residential mortgage loans; mortgage servicing rights (MSR); Commercial real estate debt and related assets and other financial assets comprising approximately 5% to 10% of the portfolio. The Company is externally managed and advised by PRCM Advisers LLC a subsidiary of Pine River Capital Management L.P.