Two Harbors Investment (NYSE:TWO) Price Target Lowered to $14.50 at JMP Securities

Two Harbors Investment (NYSE:TWO) had its target price cut by JMP Securities from $15.00 to $14.50 in a report published on Thursday morning, Benzinga reports. They currently have a market outperform rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Two Harbors Investment from $12.50 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. StockNews.com raised shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Sunday, October 6th. Janney Montgomery Scott started coverage on Two Harbors Investment in a research note on Friday, August 16th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Compass Point began coverage on Two Harbors Investment in a research note on Thursday, October 3rd. They set a “buy” rating and a $15.75 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Two Harbors Investment presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.96.

Two Harbors Investment Price Performance

NYSE TWO opened at $13.07 on Thursday. The firm’s fifty day simple moving average is $13.58 and its two-hundred day simple moving average is $13.16. The firm has a market capitalization of $1.35 billion, a P/E ratio of 31.87 and a beta of 1.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.97. Two Harbors Investment has a 12-month low of $9.83 and a 12-month high of $14.59.

Two Harbors Investment (NYSE:TWO) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. Two Harbors Investment had a return on equity of 3.64% and a net margin of 27.71%. The company had revenue of $115.95 million during the quarter. During the same quarter last year, the business posted ($0.04) earnings per share. Analysts forecast that Two Harbors Investment will post 0.46 EPS for the current fiscal year.

Two Harbors Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 13.78%. The ex-dividend date is Tuesday, October 1st. Two Harbors Investment’s dividend payout ratio is currently 439.02%.

Hedge Funds Weigh In On Two Harbors Investment

Several institutional investors and hedge funds have recently modified their holdings of TWO. Northwestern Mutual Wealth Management Co. raised its position in Two Harbors Investment by 1,680.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,100 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Two Harbors Investment by 38.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,258 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 2,306 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Two Harbors Investment in the 2nd quarter valued at $144,000. AQR Capital Management LLC purchased a new stake in Two Harbors Investment during the second quarter worth $147,000. Finally, Legacy Financial Strategies LLC acquired a new stake in Two Harbors Investment during the second quarter valued at $170,000. Institutional investors and hedge funds own 64.19% of the company’s stock.

Two Harbors Investment 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.