Two Harbors Investment (NYSE:TWO) Price Target Lowered to $12.00 at Royal Bank of Canada

Two Harbors Investment (NYSE:TWO) had its price target lowered by Royal Bank of Canada from $14.00 to $12.00 in a research report released on Friday, Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on TWO. JPMorgan Chase & Co. cut their target price on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered Two Harbors Investment from a “hold” rating to a “sell” rating in a research note on Tuesday. Compass Point assumed coverage on Two Harbors Investment in a research report on Thursday, October 3rd. They set a “buy” rating and a $15.75 target price on the stock. JMP Securities cut their price target on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating for the company in a report on Thursday, October 17th. Finally, Janney Montgomery Scott assumed coverage on Two Harbors Investment in a research note on Friday, August 16th. They issued a “buy” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $14.32.

Two Harbors Investment Trading Down 0.9 %

TWO traded down $0.10 during mid-day trading on Friday, reaching $11.40. 1,505,612 shares of the company traded hands, compared to its average volume of 1,368,727. The company’s fifty day moving average price is $13.34 and its 200-day moving average price is $13.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.08. Two Harbors Investment has a 52-week low of $11.37 and a 52-week high of $14.59.

Two Harbors Investment (NYSE:TWO) last posted 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 firm had revenue of $112.64 million for the quarter. Two Harbors Investment had a negative net margin of 87.84% and a positive return on equity of 4.45%. During the same period in the previous year, the business posted ($0.01) EPS. On average, analysts predict that Two Harbors Investment will post 0.7 earnings per share for the current year.

Two Harbors Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 15.79%. The ex-dividend date of this dividend was Tuesday, October 1st. Two Harbors Investment’s dividend payout ratio (DPR) is presently -37.34%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of 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 worth $154,997,000 after buying an additional 1,135,012 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Two Harbors Investment by 155.4% in the 1st 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 in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Two Harbors Investment by 48.2% during the 2nd quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock valued at $11,324,000 after purchasing an additional 278,666 shares during the last quarter. International Assets Investment Management LLC grew 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 purchasing an additional 180,516 shares in the last quarter. Finally, LifePro Asset Management bought a new stake in shares of Two Harbors Investment in the second quarter worth about $2,036,000. 64.19% of the stock is currently owned by institutional investors.

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.