Two Harbors Investment (NYSE:TWO) Price Target Raised to $13.25

Two Harbors Investment (NYSE:TWO) had its target price lifted by Keefe, Bruyette & Woods from $12.95 to $13.25 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on TWO. Royal Bank of Canada upped their target price on shares of Two Harbors Investment from $12.00 to $13.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. JMP Securities dropped their target price on Two Harbors Investment from $14.00 to $13.50 and set a “market outperform” rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on Two Harbors Investment from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, StockNews.com upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.29.

Two Harbors Investment Trading Up 0.8 %

NYSE:TWO opened at $11.87 on Wednesday. The business’s 50-day moving average is $12.58 and its two-hundred day moving average is $12.29. The firm has a market capitalization of $1.23 billion, a PE ratio of 5.63 and a beta of 1.36. Two Harbors Investment has a 12 month low of $10.16 and a 12 month high of $14.28. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.09 and a quick ratio of 1.07.

Two Harbors Investment (NYSE:TWO) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). The company had revenue of ($20.33) million for the quarter, compared to analysts’ expectations of ($28.53) million. Two Harbors Investment had a net margin of 66.24% and a return on equity of 6.52%. Research analysts predict that Two Harbors Investment will post 0.81 earnings per share for the current fiscal year.

Two Harbors Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Friday, April 4th were issued a $0.45 dividend. The ex-dividend date was Friday, April 4th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 15.16%. Two Harbors Investment’s dividend payout ratio (DPR) is -352.94%.

Insider Activity at Two Harbors Investment

In related news, insider Rebecca B. Sandberg sold 2,561 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $12.96, for a total transaction of $33,190.56. Following the sale, the insider now owns 146,803 shares in the company, valued at $1,902,566.88. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Two Harbors Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of Two Harbors Investment by 68.4% in the 1st quarter. CWM LLC now owns 2,192 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 890 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Two Harbors Investment by 818.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 2,963 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Two Harbors Investment during the fourth quarter valued at $40,000. McIlrath & Eck LLC bought a new position in shares of Two Harbors Investment during the third quarter worth about $64,000. Finally, KBC Group NV increased its holdings in shares of Two Harbors Investment by 86.5% in the 4th quarter. KBC Group NV now owns 6,635 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 3,077 shares during the period. 64.19% of the stock is currently owned by institutional investors and hedge funds.

About Two Harbors Investment

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.