Two Harbors Investments (NYSE:TWO) Reaches New 12-Month Low – Time to Sell?

Two Harbors Investments Corp (NYSE:TWO) shares reached a new 52-week low during trading on Friday . The stock traded as low as $9.49 and last traded at $9.58, with a volume of 136578 shares traded. The stock had previously closed at $9.52.

Analysts Set New Price Targets

TWO has been the subject of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Citizens Jmp restated a “market perform” rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Two Harbors Investments in a research note on Wednesday, October 8th. Maxim Group decreased 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 note on Tuesday, July 29th. Finally, UBS Group decreased their price target on shares of Two Harbors Investments from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Three equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.43.

Two Harbors Investments Stock Up 1.1%

The stock has a market cap of $1.00 billion, a P/E ratio of -2.70 and a beta of 1.28. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average price is $9.93 and its two-hundred day moving average price is $10.56.

Two Harbors Investments (NYSE:TWO) last posted its earnings results on Monday, March 7th. The real estate investment trust reported $0.24 earnings per share for the quarter. The company had revenue of ($18.67) million during the quarter. Two Harbors Investments had a positive return on equity of 9.39% and a negative net margin of 67.06%. As a group, research analysts expect that Two Harbors Investments Corp will post 0.81 earnings per share for the current year.

Two Harbors Investments Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.36 dividend on an annualized basis and a yield of 14.1%. Two Harbors Investments’s dividend payout ratio is currently -38.20%.

Insiders Place Their Bets

In other news, CIO Nicholas Letica sold 8,654 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $10.02, for a total transaction of $86,713.08. Following the transaction, the executive directly owned 160,281 shares of the company’s stock, valued at approximately $1,606,015.62. This represents a 5.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Two Harbors Investments

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its position in shares of Two Harbors Investments by 1.7% during the second 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 in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Two Harbors Investments by 490.7% during the second 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 purchasing an additional 2,977,196 shares in the last quarter. Invesco Ltd. increased its position in shares of Two Harbors Investments by 44.5% during the second quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust’s stock worth $28,540,000 after purchasing an additional 815,931 shares in the last quarter. Millennium Management LLC increased its position in shares of Two Harbors Investments by 10.6% during the first quarter. Millennium Management LLC now owns 1,206,549 shares of the real estate investment trust’s stock worth $16,119,000 after purchasing an additional 115,698 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Two Harbors Investments by 7.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 959,992 shares of the real estate investment trust’s stock worth $10,339,000 after purchasing an additional 69,365 shares in the last quarter. 64.19% of the stock is owned by institutional investors and hedge funds.

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.