Two Harbors Investment Corp. [NYSE: TWO] plunged by -$0.61 during the normal trading session on Monday and reaching a high of $17.66 during the day while it closed the day at $16.98. The company report on February 3, 2023 that Two Harbors Investment Corp. Announces Pricing of Public Offering of Common Stock.
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Two Harbors Investment Corp. (NYSE: TWO), an Agency + MSR mortgage real estate investment trust, today announced that it has priced a public offering of 10,000,000 shares of its common stock for a total expected gross proceeds of $178,000,000, before underwriting fees and estimated offering expenses. In connection with the offering, the Company has also granted the underwriters an option for 30 days to purchase up to an additional 1,500,000 shares of common stock. The offering is subject to customary conditions and is expected to close on or about February 6, 2023.
The Company intends to use the net proceeds from the offering to purchase its target assets, including residential mortgage-backed securities, mortgage servicing rights and other financial assets, in each case subject to its investment guidelines and to the extent consistent with maintaining its real estate investment trust qualification, and for general corporate purposes.
Two Harbors Investment Corp. stock has also loss -3.96% of its value over the past 7 days. However, TWO stock has inclined by 26.15% in the 3 months of the year. Over the past six months meanwhile, it has lost -16.11% and gained 7.67% year-on date.
The market cap for TWO stock reached $1.54 billion, with 86.25 million shares outstanding and 85.75 million shares in the current float. Compared to the average trading volume of 1.05M shares, TWO reached a trading volume of 6186018 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Two Harbors Investment Corp. [TWO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TWO shares is $16.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TWO stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for Two Harbors Investment Corp. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on January 04, 2022, representing the official price target for Two Harbors Investment Corp. stock. Previously, the target price had yet another drop from $7.75 to $7.50, while Credit Suisse kept a Neutral rating on TWO stock.
The Average True Range (ATR) for Two Harbors Investment Corp. is set at 0.43, with the Price to Sales ratio for TWO stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 8.05. Price to Free Cash Flow for TWO in the course of the last twelve months was 15.27.
TWO stock trade performance evaluation
Two Harbors Investment Corp. [TWO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.96. With this latest performance, TWO shares gained by 6.79% in over the last four-week period, additionally sinking by -16.11% over the last 6 months – not to mention a drop of -22.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TWO stock in for the last two-week period is set at 45.93, with the RSI for the last a single of trading hit 38.95, and the three-weeks RSI is set at 49.72 for Two Harbors Investment Corp. [TWO]. The present Moving Average for the last 50 days of trading for this stock 16.67, while it was recorded at 17.86 for the last single week of trading, and 17.96 for the last 200 days.
Two Harbors Investment Corp. [TWO]: An insightful look at the core fundamentals
Return on Equity for this stock inclined to 6.42, with Return on Assets sitting at 1.18.
Earnings per share (EPS) analysis for Two Harbors Investment Corp. [TWO] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TWO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Two Harbors Investment Corp. go to 3.33%.
Two Harbors Investment Corp. [TWO]: Insider Ownership positions
There are presently around $936 million, or 65.00% of TWO stock, in the hands of institutional investors. The top three institutional holders of TWO stocks are: BLACKROCK INC. with ownership of 14,675,043, which is approximately -1.468% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 9,657,827 shares of the stock with an approximate value of $163.99 million in TWO stocks shares; and ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC, currently with $67.38 million in TWO stock with ownership of nearly 0.044% of the company’s market capitalization.
Positions in Two Harbors Investment Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 114 institutional holders increased their position in Two Harbors Investment Corp. [NYSE:TWO] by around 3,339,221 shares. Additionally, 136 investors decreased positions by around 2,710,523 shares, while 44 investors held positions by with 49,085,113 shares. The mentioned changes placed institutional holdings at 55,134,857 shares, according to the latest SEC report filing. TWO stock had 38 new institutional investments in for a total of 1,634,274 shares, while 63 institutional investors sold positions of 738,428 shares during the same period.