Two Harbors Investments Corp (NYSE:TWO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Two Harbors Investment Corp is a Real Estate Investment Trust that focuses on investing in, financing and managing residential mortgage-backed securities and mortgage loans. Its objective is to provide risk-adjusted returns to investors through dividends and capital appreciation. Two Harbors intends to acquire and manage a portfolio of mortgage-backed securities, focusing on security selection and the relative value of various sectors within the mortgage market. As an investment strategy, the company expects to deploy moderate borrowings through, with respect to Agency RMBS, short-term borrowings structured as repurchase agreements and, with respect to non-Agency RMBS and residential mortgage loans, private funding sources. It may also finance portions of its portfolio through non-recourse term borrowing facilities and equity financing under the Legacy Loan Program and Term Asset-Backed Securities Lending Facility (TALF), if such financing becomes available. “
TWO has been the subject of a number of other reports. B. Riley upgraded Two Harbors Investments Corp from a “neutral” rating to a “buy” rating and cut their target price for the stock from $20.00 to $16.50 in a research report on Friday, November 10th. They noted that the move was a valuation call. Maxim Group restated a “buy” rating and issued a $17.00 target price (down from $20.50) on shares of Two Harbors Investments Corp in a research report on Thursday, November 9th. Credit Suisse Group reiterated a “buy” rating and set a $20.00 price objective on shares of Two Harbors Investments Corp in a research report on Thursday, August 10th. ValuEngine downgraded Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, BidaskClub downgraded Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Two Harbors Investments Corp presently has an average rating of “Buy” and a consensus price target of $18.50.
Two Harbors Investments Corp (NYSE:TWO) traded up $0.22 on Wednesday, reaching $15.63. The company’s stock had a trading volume of 2,767,700 shares, compared to its average volume of 1,380,941. The firm has a market capitalization of $2,740.00 and a P/E ratio of 7.37. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.33 and a quick ratio of 1.33. Two Harbors Investments Corp has a 12-month low of $15.21 and a 12-month high of $21.08.
Two Harbors Investments Corp (NYSE:TWO) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.24. The firm had revenue of $115.03 million during the quarter, compared to the consensus estimate of $112.87 million. Two Harbors Investments Corp had a return on equity of 10.27% and a net margin of 63.23%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. research analysts predict that Two Harbors Investments Corp will post 2.08 earnings per share for the current fiscal year.
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In other news, major shareholder Two Harbors Investment Corp. bought 25,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were bought at an average cost of $18.82 per share, with a total value of $470,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Siering bought 3,500 shares of the business’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $15.30 per share, for a total transaction of $53,550.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 134,644 shares of company stock worth $2,503,673. Company insiders own 1.16% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its stake in Two Harbors Investments Corp by 14.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,082,588 shares of the real estate investment trust’s stock valued at $10,912,000 after purchasing an additional 139,088 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Two Harbors Investments Corp by 6.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 227,646 shares of the real estate investment trust’s stock valued at $2,294,000 after purchasing an additional 14,703 shares during the period. Janus Henderson Group PLC raised its stake in Two Harbors Investments Corp by 145.8% during the 3rd quarter. Janus Henderson Group PLC now owns 5,705,879 shares of the real estate investment trust’s stock valued at $57,515,000 after purchasing an additional 3,384,072 shares during the period. Penn Mutual Life Insurance Co raised its stake in Two Harbors Investments Corp by 50.0% during the 3rd quarter. Penn Mutual Life Insurance Co now owns 300,000 shares of the real estate investment trust’s stock valued at $3,024,000 after purchasing an additional 100,000 shares during the period. Finally, Cowen Inc. acquired a new stake in Two Harbors Investments Corp during the 3rd quarter valued at $504,000.
About Two Harbors Investments Corp
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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