Two Harbors Investment (NYSE:TWO) Price Target Raised to $13.00

Two Harbors Investment (NYSE:TWO) had its price target boosted by UBS Group from $12.00 to $13.00 in a research note released on Thursday,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on TWO. StockNews.com downgraded shares of Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Wednesday. JMP Securities reduced their price objective on shares of 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. Royal Bank of Canada raised their price objective on Two Harbors Investment from $12.00 to $13.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price objective on Two Harbors Investment from $12.95 to $13.25 and gave the company a “market perform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Two Harbors Investment from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.29.

Two Harbors Investment Price Performance

TWO opened at $11.87 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.07 and a current ratio of 1.09. The firm has a market cap of $1.23 billion, a P/E ratio of 5.63 and a beta of 1.36. The firm has a 50-day moving average of $12.58 and a 200 day moving average of $12.28. Two Harbors Investment has a fifty-two week low of $10.16 and a fifty-two week high of $14.28.

Two Harbors Investment (NYSE:TWO) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). Two Harbors Investment had a net margin of 66.24% and a return on equity of 6.52%. The business had revenue of ($20.33) million during the quarter, compared to analysts’ expectations of ($28.53) million. On average, research analysts expect that Two Harbors Investment will post 0.81 EPS for the current year.

Two Harbors Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Friday, April 4th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.80 annualized dividend and a yield of 15.16%. Two Harbors Investment’s dividend payout ratio (DPR) is -352.94%.

Insider Buying and Selling

In related news, insider Rebecca B. Sandberg sold 2,561 shares of Two Harbors Investment stock in a transaction on Monday, February 10th. The shares were sold at an average price of $12.96, for a total transaction of $33,190.56. Following the transaction, the insider now owns 146,803 shares in the company, valued at approximately $1,902,566.88. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Institutional Trading of Two Harbors Investment

Several institutional investors have recently made changes to their positions in TWO. Barclays PLC lifted its stake in Two Harbors Investment by 346.0% in the 3rd quarter. Barclays PLC now owns 172,557 shares of the real estate investment trust’s stock worth $2,395,000 after purchasing an additional 133,869 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Two Harbors Investment by 20.2% during the 4th quarter. Van ECK Associates Corp now owns 893,014 shares of the real estate investment trust’s stock valued at $10,564,000 after buying an additional 149,870 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Two Harbors Investment by 97.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 58,084 shares of the real estate investment trust’s stock worth $687,000 after purchasing an additional 28,607 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Two Harbors Investment by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 258,142 shares of the real estate investment trust’s stock valued at $3,583,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Two Harbors Investment by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,350,945 shares of the real estate investment trust’s stock valued at $64,158,000 after buying an additional 69,725 shares during the period. Hedge funds and other institutional investors own 64.19% of the company’s stock.

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.