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Two Harbors Investment Corp. (TWO)

NYSE - NYSE Delayed Price. Currency in USD
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5.47+0.04 (+0.74%)
At close: 4:00PM EDT

5.49 +0.02 (0.37%)
After hours: 7:15PM EDT

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Commodity Channel Index

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Previous Close5.43
Open5.40
Bid5.47 x 2200
Ask5.48 x 1800
Day's Range5.26 - 5.52
52 Week Range2.25 - 15.85
Volume4,046,212
Avg. Volume8,877,053
Market Cap1.496B
Beta (5Y Monthly)1.60
PE Ratio (TTM)N/A
EPS (TTM)-5.84
Earnings DateAug 05, 2020
Forward Dividend & Yield0.99 (17.87%)
Ex-Dividend DateJun 29, 2020
1y Target Est6.00
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
28% Est. Return
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  • Two Harbors Ends Management Agreement, Citing Material Breaches
    SmarterAnalyst

    Two Harbors Ends Management Agreement, Citing Material Breaches

    Two Harbors Investment Corp (TWO) has announced that it has provided PRCM Advisers LLC with a notice of termination of their Management Agreement, citing material breaches and gross negligence in PRCM’s duties.Shares in TWO are rising 2% in Wednesday’s pre-market trading.The notice specifies that the agreement will terminate on August 14, 2020. No termination fee will be payable to PRCM in connection with the termination says Two Harbors.Previously TWO had decided not to renew the Management Agreement on the basis of unfair compensation payable to PRCM, which meant that the agreement should have terminated on September 19, 2020, with a $144 million termination fee.Because the Management Agreement is now being terminated for cause, however, no termination fee will be payable to PRCM says Two Harbors.Following the termination, Two Harbors will become a self-managed company. “We expect to continue to be managed by our strong and experienced senior management team... The Board anticipates a smooth and timely transition of all functions necessary” the company stated.An Independent Committee had reviewed and evaluated possible breaches of the Management Agreement and acts of gross negligence on the part of PRCM. Based on its review, the committee approved the termination of the Management Agreement ‘for cause.’According to TWO, the committee “unanimously determined that there had occurred certain material breaches of the Management Agreement by the Manager… that are incapable of being cured within the time period set forth therein and certain events of gross negligence on the part of the Manager in the performance of its duties.”Shares in Two Harbors have plunged 64% year-to-date, but the stock has a cautiously optimistic Moderate Buy consensus. That’s with an average analyst price target of $6 (16% upside potential). (See TWO stock analysis on TipRanks).RBC Capital’s Kenneth Lee maintained a buy rating on the stock and $6 price target on TWO after the company declared a $0.14 per share common dividend for 2Q 2020, payable on July 29.“We maintain our view that TWO’s strong liquidity position should help it manage through advance requirements related to mortgage forbearance… While current returns could be somewhat dampened from a conservatively-positioned portfolio, we see potential for improving returns over time and internalization as a positive catalyst” he commented.Related News: Adobe, IBM Partner On Hybrid Cloud For Banking, Healthcare Industries Snap Drops 6% As User Growth Disappoints; Top Analyst Lifts PT Synaptics Snaps Up DisplayLink For $305M In All-Cash Deal; Top Analyst Lifts PT More recent articles from Smarter Analyst: * Tesla's Elon Musk Qualifies For $2B+ Payout Backed By Share Rally * Aurinia Pharma Surges 9% On Priority Review For Lupus Kidney Treatment * Texas Instruments Provides Upbeat Sales Outlook; Top Analyst Sees 18% Upside * OrganiGram Plunges 9% On Soft Top Line; Weak Gross Margins

  • Two Harbors Announces Termination of Management Agreement
    Business Wire

    Two Harbors Announces Termination of Management Agreement

    Two Harbors Announces Termination of Management Agreement

  • Did Hedge Funds Make The Right Call On Two Harbors Investment Corp (TWO) ?
    Insider Monkey

    Did Hedge Funds Make The Right Call On Two Harbors Investment Corp (TWO) ?

    How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]