Two Harbors Investments (NYSE:TWO) Price Target Raised to $10.00

Two Harbors Investments (NYSE:TWO) had its target price boosted by JPMorgan Chase & Co. from $9.50 to $10.00 in a research report released on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Two Harbors Investments in a report on Thursday, July 3rd. Maxim Group dropped their price target on shares of Two Harbors Investments from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. UBS Group decreased their price objective on shares of Two Harbors Investments from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Two Harbors Investments in a research note on Wednesday, October 8th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Two Harbors Investments in a research note on Thursday, July 3rd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.36.

Two Harbors Investments Stock Performance

Two Harbors Investments stock opened at $9.77 on Monday. The firm has a 50 day simple moving average of $9.92 and a 200-day simple moving average of $10.52. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -2.74 and a beta of 1.28. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.07 and a quick ratio of 1.07. Two Harbors Investments has a 1-year low of $9.49 and a 1-year high of $14.28.

Two Harbors Investments (NYSE:TWO) last released its quarterly earnings data on Monday, March 7th. The real estate investment trust reported $0.24 EPS for the quarter. The firm had revenue of ($18.67) million for the quarter. Two Harbors Investments had a positive return on equity of 9.39% and a negative net margin of 67.06%. On average, analysts expect that Two Harbors Investments will post 0.81 EPS for the current year.

Two Harbors Investments Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Friday, October 3rd will be given a $0.34 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 13.9%. Two Harbors Investments’s dividend payout ratio (DPR) is currently -38.20%.

Insider Activity at Two Harbors Investments

In related news, CIO Nicholas Letica sold 8,654 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $10.02, for a total transaction of $86,713.08. Following the sale, the executive directly owned 160,281 shares in the company, valued at approximately $1,606,015.62. This represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Two Harbors Investments

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Two Harbors Investments by 1.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 5,240,983 shares of the real estate investment trust’s stock worth $57,074,000 after purchasing an additional 88,518 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Two Harbors Investments by 490.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,583,939 shares of the real estate investment trust’s stock worth $38,599,000 after buying an additional 2,977,196 shares during the last quarter. Invesco Ltd. boosted its position in shares of Two Harbors Investments by 44.5% during the 2nd quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust’s stock worth $28,540,000 after acquiring an additional 815,931 shares in the last quarter. Millennium Management LLC boosted its position in shares of Two Harbors Investments by 10.6% during the 1st quarter. Millennium Management LLC now owns 1,206,549 shares of the real estate investment trust’s stock worth $16,119,000 after acquiring an additional 115,698 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Two Harbors Investments by 7.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 959,992 shares of the real estate investment trust’s stock valued at $10,339,000 after acquiring an additional 69,365 shares during the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.

Two Harbors Investments Company Profile

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.