Zacks Investment Research upgraded shares of Two Harbors Investment (NYSE:TWO) from a hold rating to a buy rating in a research report report published on Saturday, January 20th. Zacks Investment Research currently has $18.00 price objective on the real estate investment trust’s stock.
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. “
Several other research analysts also recently commented on the stock. B. Riley raised shares of Two Harbors Investment from a neutral rating to a buy rating and decreased their target price for the stock from $20.00 to $16.50 in a research note on Friday, November 10th. They noted that the move was a valuation call. Barclays lifted their price target on shares of Two Harbors Investment from $10.00 to $17.00 and gave the company an overweight rating in a report on Thursday, November 9th. Maxim Group reiterated a buy rating and issued a $17.00 price target (down previously from $20.50) on shares of Two Harbors Investment in a report on Thursday, November 9th. Finally, ValuEngine cut shares of Two Harbors Investment from a strong-buy rating to a buy rating in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $18.00.
Shares of Two Harbors Investment (NYSE:TWO) opened at $15.00 on Friday. The firm has a market cap of $2,620.00, a P/E ratio of 10.14 and a beta of 0.32. Two Harbors Investment has a one year low of $13.85 and a one year high of $17.29. 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 Investment (NYSE:TWO) last posted its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. The firm had revenue of $100.31 million for the quarter, compared to the consensus estimate of $112.40 million. Two Harbors Investment had a net margin of 41.26% and a return on equity of 10.06%. During the same period last year, the firm posted $0.24 earnings per share. equities analysts anticipate that Two Harbors Investment will post 1.87 EPS for the current fiscal year.
In other news, CFO Brad Farrell sold 24,761 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $15.17, for a total transaction of $375,624.37. Following the completion of the sale, the chief financial officer now owns 284,978 shares of the company’s stock, valued at approximately $4,323,116.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Taylor purchased 9,500 shares of Two Harbors Investment stock in a transaction dated Thursday, November 16th. The shares were acquired at an average cost of $15.64 per share, with a total value of $148,580.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 81,283 shares of company stock valued at $1,232,498. 1.16% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Advantage Investment Management LLC bought a new position in shares of Two Harbors Investment during the 4th quarter valued at approximately $112,000. Ramsey Quantitative Systems bought a new position in Two Harbors Investment in the 4th quarter worth approximately $201,000. Rhumbline Advisers bought a new position in Two Harbors Investment in the 4th quarter worth approximately $2,540,000. Capital Fund Management S.A. boosted its stake in Two Harbors Investment by 61.3% in the 4th quarter. Capital Fund Management S.A. now owns 314,969 shares of the real estate investment trust’s stock worth $5,121,000 after purchasing an additional 119,743 shares during the period. Finally, Covenant Multifamily Offices LLC bought a new position in Two Harbors Investment in the 4th quarter worth approximately $906,000.
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Two Harbors Investment Company Profile
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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