Two Harbors Investment (TWO) Upgraded by ValuEngine to “Sell”

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ValuEngine upgraded shares of Two Harbors Investment (NYSE:TWO) from a strong sell rating to a sell rating in a report issued on Tuesday morning.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Two Harbors Investment from a sell rating to a hold rating in a research note on Wednesday, August 15th. Compass Point set a $16.00 price target on shares of Two Harbors Investment and gave the stock a buy rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Two Harbors Investment from $15.00 to $16.50 and gave the stock a $15.84 rating in a research note on Monday, July 23rd. Barclays set a $17.00 price target on shares of Two Harbors Investment and gave the stock a buy rating in a research note on Friday, August 10th. Finally, Raymond James began coverage on shares of Two Harbors Investment in a research note on Thursday, October 11th. They set an outperform rating and a $16.50 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $16.43.

TWO stock opened at $14.79 on Tuesday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 7.11 and a beta of 0.31. Two Harbors Investment has a one year low of $13.85 and a one year high of $16.83. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings results on Tuesday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $84.30 million for the quarter, compared to the consensus estimate of $82.10 million. Two Harbors Investment had a net margin of 80.75% and a return on equity of 11.49%. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts anticipate that Two Harbors Investment will post 1.93 EPS for the current year.

The company also recently announced a special dividend, which was paid on Monday, October 29th. Investors of record on Monday, October 1st were paid a $0.3116 dividend. This represents a dividend yield of 12.34%. This is an increase from Two Harbors Investment’s previous special dividend of $0.16. The ex-dividend date was Friday, September 28th. Two Harbors Investment’s payout ratio is presently 60.10%.

In other news, CEO Thomas Siering bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were bought at an average cost of $15.41 per share, with a total value of $77,050.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James J. Bender sold 3,460 shares of Two Harbors Investment stock in a transaction on Friday, August 17th. The stock was sold at an average price of $15.60, for a total transaction of $53,976.00. Following the completion of the transaction, the director now directly owns 24,065 shares in the company, valued at $375,414. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of TWO. State Treasurer State of Michigan increased its position in Two Harbors Investment by 37.8% during the 3rd quarter. State Treasurer State of Michigan now owns 11,552,142 shares of the real estate investment trust’s stock valued at $172,473,000 after purchasing an additional 3,170,000 shares during the period. First Trust Advisors LP purchased a new position in Two Harbors Investment during the 2nd quarter valued at $19,989,000. Renaissance Technologies LLC purchased a new position in Two Harbors Investment during the 2nd quarter valued at $16,902,000. Wells Fargo & Company MN increased its position in Two Harbors Investment by 110.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,567,952 shares of the real estate investment trust’s stock valued at $24,774,000 after purchasing an additional 821,703 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Two Harbors Investment during the 3rd quarter valued at $11,900,000. 47.77% of the stock is currently owned by institutional investors and hedge funds.

About Two Harbors Investment

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.

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Analyst Recommendations for Two Harbors Investment (NYSE:TWO)

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