Maxim Group Believes Two Harbors (NYSE: TWO) Won’t Stop Here

By Carrie Williams

Maxim Group analyst Michael Diana reiterated a Buy rating on Two Harbors (NYSE: TWO) today and set a price target of $10.25. The company’s shares closed yesterday at $10.06, close to its 52-week high of $10.28.

Diana commented:

“TWO announced that it is contributing its portfolio of commercial real estate loans to a new REIT (Granite Point Mortgage Trust) in conjunction with Granite Point’s IPO, and then distributing shares of Granite Point to TWO shareholders as a special dividend (after the expiration of a customary lock-up period).”

According to TipRanks.com, Diana is a 4-star analyst with an average return of 4.5% and a 58.6% success rate. Diana covers the Financial sector, focusing on stocks such as Wheeler Real Estate ate Investment Trust Inc, First Savings Financial Group, and ARMOUR Residential REIT Inc.

Two Harbors has an analyst consensus of Moderate Buy, with a price target consensus of $9.90.

The company has a one year high of $10.28 and a one year low of $7.91. Currently, Two Harbors has an average volume of 2.61M.

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Two Harbors Investment Corp. is a real estate investment trust, which invests in residential mortgage-backed securities, residential mortgage loans and other financial assets. Its objective is to provide risk-adjusted returns to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation. The company was founded on May 21, 2009 and is headquartered in New York, NY.