Maxim analyst Michael Diana upgraded Two Harbors to Buy from Hold with a $19 price target. The analyst is citing a strong outlook for RMBS and MSR, for which the company is "well-positioned", along with its high-yielding and sustainable dividend. The firm adds that the stock’s book value implied by its price target is 1.04-times, which is in line with valuations of relevant Agency mortgage REITs.
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Published first on TheFly
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Read More on TWO:
- Two Harbors reports Q4 EPS ex-items 73c, consensus 53c
- Two Harbors 10M share Spot Secondary priced at $17.80
- Two Harbors 10M share Spot Secondary; price range $17.80-$18.00
- Two Harbors announces offering of 10M shares of common stock
- Two Harbors sees book value per common share at end of Q4 $17.70-$17.74
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