JPMorgan Chase & Co. Cuts Two Harbors Investment (NYSE:TWO) Price Target to $11.50

Two Harbors Investment (NYSE:TWO) had its price objective reduced by JPMorgan Chase & Co. from $13.50 to $11.50 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on TWO. Janney Montgomery Scott began coverage on Two Harbors Investment in a report on Friday, August 16th. They set a “buy” rating and a $15.00 price objective for the company. StockNews.com downgraded shares of Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Tuesday. JMP Securities cut their price objective on shares of Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Compass Point began coverage on shares of Two Harbors Investment in a research report on Thursday, October 3rd. They issued a “buy” rating and a $15.75 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.32.

Two Harbors Investment Price Performance

Shares of TWO stock opened at $11.41 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.08 and a current ratio of 1.07. Two Harbors Investment has a 52 week low of $11.37 and a 52 week high of $14.59. The company’s 50 day moving average price is $13.34 and its two-hundred day moving average price is $13.17.

Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The company had revenue of $112.64 million for 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 quarter last year, the firm posted ($0.01) EPS. Equities research analysts forecast that Two Harbors Investment will post 0.7 earnings per share for the current year.

Two Harbors Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 15.78%. The ex-dividend date was Tuesday, October 1st. Two Harbors Investment’s dividend payout ratio (DPR) is presently -37.34%.

Institutional Investors Weigh In On Two Harbors Investment

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Two Harbors Investment by 10.7% in the first quarter. Vanguard Group Inc. now owns 11,706,755 shares of the real estate investment trust’s stock valued at $154,997,000 after buying an additional 1,135,012 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Two Harbors Investment by 1.6% during the 3rd 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 purchasing an additional 84,038 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Two Harbors Investment by 155.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,317,877 shares of the real estate investment trust’s stock worth $18,516,000 after purchasing an additional 801,837 shares during the period. Van ECK Associates Corp boosted its position in Two Harbors Investment by 48.2% during the second quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock worth $11,324,000 after purchasing an additional 278,666 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Two Harbors Investment by 1.1% in the second quarter. Rhumbline Advisers now owns 310,806 shares of the real estate investment trust’s stock valued at $4,106,000 after purchasing an additional 3,408 shares during the period. 64.19% of the stock is currently owned by institutional investors and hedge funds.

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.