JPMorgan Chase & Co. Cuts Two Harbors Investment (NYSE:TWO) Price Target to $11.00

Two Harbors Investment (NYSE:TWO) had its price objective trimmed by JPMorgan Chase & Co. from $11.50 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on TWO. Compass Point dropped their price objective on Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada dropped their price objective on Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. StockNews.com raised Two Harbors Investment to a “sell” rating in a research note on Thursday, December 12th. Finally, JMP Securities dropped their price objective on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating for the company in a research note on Thursday, October 17th. 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 stock. Based on data from MarketBeat.com, Two Harbors Investment presently has an average rating of “Hold” and an average price target of $13.54.

Two Harbors Investment Stock Down 0.4 %

Shares of TWO opened at $11.81 on Tuesday. The firm has a market cap of $1.22 billion, a P/E ratio of -2.45 and a beta of 1.83. The stock has a 50 day simple moving average of $11.71 and a two-hundred day simple moving average of $12.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Two Harbors Investment has a 1 year low of $10.84 and a 1 year high of $14.27.

Two Harbors Investment (NYSE:TWO) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). The firm had revenue of $112.64 million during the quarter. Two Harbors Investment had a positive return on equity of 4.45% and a negative net margin of 87.84%. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, analysts forecast that Two Harbors Investment will post 0.47 earnings per share for the current fiscal year.

Two Harbors Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Friday, January 3rd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 15.25%. The ex-dividend date of this dividend is Friday, January 3rd. Two Harbors Investment’s payout ratio is -37.34%.

Insiders Place Their Bets

In other Two Harbors Investment news, CIO Nicholas Letica sold 5,737 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $11.28, for a total value of $64,713.36. Following the completion of the transaction, the executive now owns 168,935 shares in the company, valued at approximately $1,905,586.80. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rebecca B. Sandberg sold 3,785 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $11.14, for a total value of $42,164.90. Following the completion of the transaction, the insider now owns 152,378 shares of the company’s stock, valued at approximately $1,697,490.92. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,754 shares of company stock worth $333,307. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Two Harbors Investment

Several institutional investors and hedge funds have recently modified their holdings of TWO. Phocas Financial Corp. bought a new position in shares of Two Harbors Investment during the third quarter valued at $3,505,000. International Assets Investment Management LLC boosted its position in shares of Two Harbors Investment by 1,392.7% during the third quarter. International Assets Investment Management LLC now owns 193,478 shares of the real estate investment trust’s stock valued at $2,685,000 after buying an additional 180,516 shares during the last quarter. Barclays PLC boosted its position in shares of Two Harbors Investment by 346.0% during the third quarter. Barclays PLC now owns 172,557 shares of the real estate investment trust’s stock valued at $2,395,000 after buying an additional 133,869 shares during the last quarter. State Street Corp boosted its position in shares of Two Harbors Investment by 2.7% during the third quarter. State Street Corp now owns 3,877,111 shares of the real estate investment trust’s stock valued at $53,814,000 after buying an additional 102,294 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Two Harbors Investment by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,281,220 shares of the real estate investment trust’s stock valued at $73,303,000 after buying an additional 84,038 shares during the last quarter. 64.19% of the stock is currently owned by institutional investors.

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.