Two Harbors Investment (NYSE:TWO) Shares Gap Down to $13.88

Shares of Two Harbors Investment Corp. (NYSE:TWO) gapped down prior to trading on Tuesday . The stock had previously closed at $13.88, but opened at $13.38. Two Harbors Investment shares last traded at $13.25, with a volume of 133,743 shares traded.

Analyst Upgrades and Downgrades

TWO has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Two Harbors Investment in a research report on Wednesday, August 28th. Janney Montgomery Scott began coverage on shares of Two Harbors Investment in a report on Friday, August 16th. They set a “buy” rating and a $15.00 price objective for the company. UBS Group upgraded shares of Two Harbors Investment from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.50 to $14.50 in a research note on Friday, June 7th. JPMorgan Chase & Co. raised their price target on shares of Two Harbors Investment from $12.50 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, StockNews.com cut shares of Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Two Harbors Investment presently has a consensus rating of “Hold” and a consensus price target of $14.90.

Two Harbors Investment Trading Down 5.3 %

The company has a market cap of $1.36 billion, a P/E ratio of 7.38 and a beta of 1.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.97. The firm’s 50-day moving average price is $13.71 and its 200-day moving average price is $13.17.

Two Harbors Investment (NYSE:TWO) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. Two Harbors Investment had a net margin of 27.71% and a return on equity of 3.64%. The business had revenue of $115.95 million for the quarter. During the same period in the previous year, the firm earned ($0.04) EPS. As a group, equities research analysts expect that Two Harbors Investment Corp. will post 0.46 earnings per share for the current fiscal year.

Two Harbors Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 1st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 13.69%. Two Harbors Investment’s dividend payout ratio is currently 101.12%.

Institutional Investors Weigh In On Two Harbors Investment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Two Harbors Investment during the 4th quarter valued at $8,829,000. PNC Financial Services Group Inc. increased its stake in Two Harbors Investment by 38.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,258 shares of the real estate investment trust’s stock worth $115,000 after acquiring an additional 2,306 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Two Harbors Investment in the 4th quarter valued at about $278,000. HighPoint Advisor Group LLC bought a new stake in shares of Two Harbors Investment during the 4th quarter valued at about $520,000. Finally, Howard Financial Services LTD. boosted its position in shares of Two Harbors Investment by 2.3% during the 1st quarter. Howard Financial Services LTD. now owns 39,657 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 903 shares during the last quarter. 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.