4. Two Harbors Investment (TWO) operates as an REIT that focuses on investing in asset classes including residential mortgage-backed securities, residential mortgage loans and others. It has a market cap exceeding $1 billion. The company is managed and advised by PRCM Advisers, a wholly owned subsidiary of Pine River Capital Management.
Of the 12 analysts covering the stock, 83% recommend a buy and 17% rate a hold. Analysts' average 12-month price target for the stock is $10.59, about 11.3% higher than the current price, according to a Bloomberg consensus.
For 2011 third quarter, Two Harbors reported net income attributable to common stockholders of $54.6 million, or 42 cents per diluted share, compared to $9.9 million, or 28 cents per diluted share, in the same quarter prior year. The company's portfolio of residential mortgage-backed securities generated an aggregate yield of 5.5%, driven by non-agency portfolio performance of 9.8% in the third quarter of 2011 as compared to 8.8% in the previous quarter.The company paid quarterly dividend of 40 cents per common shares on Oct. 20. Its board of directors has authorized the repurchase of up to 10 million shares of common stock.
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