Stock Monitor: ARMOUR Residential REIT Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 05, 2018 / Active-Investors.com has just released a free earnings report on Two Harbors Investment Corp. (NYSE: TWO) ("Two Harbors"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TWO. The Company posted its financial results on February 06, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's core earnings per share (EPS) fell on a y-o-y basis, but still managed to beat market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for ARMOUR Residential REIT, Inc. (NYSE: ARR), which also belongs to the Financial sector as the Company Two Harbors Investment. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Two Harbors Investment most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
In Q4 FY17, Two Harbors' total interest income came in at $195.11 million compared to $160.29 million in the quarter ended December 31, 2016. The Company's interest expenses increased to $94.80 million during the reported quarter from $63.22 million in the previous year's same quarter. Furthermore, the Company's net interest income stood at $100.31 million in Q4 FY17, which was higher than the $97.07 million reported in Q4 FY16.
For the quarter ended December 31, 2017, the Company reported a net income of $167.00 million, or $0.84 per diluted share, compared to $341.40 million, or $1.96 per diluted share, in Q4 FY16. Two Harbors' core earnings attributable to common stockholders stood at $81.34 million, or $0.47 per diluted common share, in Q4 FY17 versus $86.56 million, or $0.50 per diluted common share, in the year ago comparable quarter. The Company's net core diluted EPS outperformed market consensus estimates of $0.46.
Two Harbors reported a net interest income of $394.90 million in the full year FY17 compared to $361.80 million in FY16. The Company's net core earnings attributable to common stockholders was $363.01 million in FY17, or $2.08 per diluted share, compared to $327.27 million, or $1.88 per diluted share, in the last year.
The New York-based Company's management fees were $10.67 million during Q4 FY17 versus $9.09 million in the prior year's corresponding quarter. The Company's servicing expenses increased to $10.14 million in Q4 FY17 from $7.98 million in Q4 FY16. Meanwhile, the Company's other operating expenses declined to $9.79 million in Q4 FY17 from $14.53 million in Q4 FY16. In Q4 FY17, Two Harbors' book value came in at $16.31 per common share, representing a total return on book value of 1.6%.
Portfolio Standings and Liquidity
As on December 31, 2017, Two Harbors' Agency portfolio totaled $18.24 billion, which included $18.22 billion of fixed rate and $23.22 million of Hybrid ARMs; Agency Derivatives totaled $90.98 million; Mortgage Servicing Rights and Residential Mortgage Loans held-for-sale stood at $1.09 billion and $20.77 million, respectively; and Non-Agency portfolio stood at $2.98 billion.
As on December 31, 2017, the Company had outstanding repurchase agreements funding RMBS and Agency Derivatives of $19.3 billion. The repurchase agreements funding RMBS and Agency Derivatives, excluding the effect of the Company's interest rate swaps, had a weighted average borrowing rate of 1.68%. Additionally, the Company's debt equity ratio was 5.9:1.0 as of December 31, 2017.
Two Harbors' cash and cash equivalents aggregated to $419.16 million as on December 31, 2017, compared to $350.86 million as on December 31, 2016.
Stock Performance Snapshot
March 02, 2018 - At Friday's closing bell, Two Harbors Investment's stock climbed 1.15%, ending the trading session at $14.89.
Volume traded for the day: 1.49 million shares.
Stock performance in the last month – up 0.95%
After last Friday's close, Two Harbors Investment's market cap was at $2.57 billion.
Price to Earnings (P/E) ratio was at 10.23.
The stock has a dividend yield of 12.63%.
The stock is part of the Financial sector, categorized under the REIT - Residential industry. This sector was up 0.3% at the end of the session.
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