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

Two Harbors Investment (NYSE:TWO) had its price target lowered by JPMorgan Chase & Co. from $11.50 to $11.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on TWO. StockNews.com raised Two Harbors Investment to a “sell” rating in a research report on Thursday, December 12th. Compass Point lowered their price objective on Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada lowered their price objective on Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Finally, JMP Securities lowered their price objective on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Two Harbors Investment currently has an average rating of “Hold” and a consensus target price of $13.54.

Two Harbors Investment Trading Down 0.4 %

Two Harbors Investment stock opened at $11.81 on Tuesday. The stock has a market capitalization of $1.22 billion, a PE ratio of -2.45 and a beta of 1.83. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. The business’s fifty day moving average is $11.71 and its 200 day moving average is $12.72. Two Harbors Investment has a one year low of $10.84 and a one year high of $14.27.

Two Harbors Investment (NYSE:TWO) last announced 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 quarter last year, the firm earned ($0.01) earnings per share. On average, sell-side analysts predict that Two Harbors Investment will post 0.47 EPS for the current year.

Two Harbors Investment Dividend Announcement

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

Insider Activity at Two Harbors Investment

In related news, insider Rebecca B. Sandberg sold 5,025 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $11.21, for a total transaction of $56,330.25. Following the sale, the insider now owns 156,163 shares of the company’s stock, valued at approximately $1,750,587.23. This trade represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CIO Nicholas Letica sold 3,956 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $11.21, for a total value of $44,346.76. Following the completion of the sale, the executive now directly owns 180,712 shares in the company, valued at approximately $2,025,781.52. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,754 shares of company stock valued at $333,307. 0.61% of the stock is owned by company insiders.

Institutional Trading of Two Harbors Investment

Large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Two Harbors Investment by 1,680.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 2,100 shares during the last quarter. McIlrath & Eck LLC purchased a new position in Two Harbors Investment during the 3rd quarter valued at $64,000. KBC Group NV boosted its holdings in Two Harbors Investment by 86.5% during the 4th quarter. KBC Group NV now owns 6,635 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 3,077 shares during the period. Simplify Asset Management Inc. purchased a new position in Two Harbors Investment during the 3rd quarter valued at $134,000. Finally, AQR Capital Management LLC purchased a new position in Two Harbors Investment during the 2nd quarter valued at $147,000. 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.