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Fly News Breaks for July 5, 2017
GPMT, TWO
Jul 5, 2017 | 07:57 EDT
Credit Suisse analyst Douglas Harter reinstated coverage of Two Harbors (TWO) with an Outperform rating and a $10.50 price target following the completion of the Granite Point Mortgage (GPMT) IPO. While some of the valuation gap to peers has narrowed, the analyst continues to see Two Harbors as a "core holding" among the mREITs given the company's history of "strong" risk management, as well as "strong returns" as highlighted by the three dividend increases in the past three quarters.
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