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.

Analysts Set New Price Targets

Several research firms have recently weighed in on TWO. JPMorgan Chase & Co. raised their price objective on shares of Two Harbors Investment from $12.50 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. UBS Group upgraded Two Harbors Investment from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.50 to $14.50 in a research report on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of Two Harbors Investment in a report on Wednesday, August 28th. StockNews.com lowered Two Harbors Investment from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Janney Montgomery Scott began coverage on Two Harbors Investment in a research report on Friday, August 16th. They issued a “buy” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.90.

Two Harbors Investment Price Performance

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.97. The firm has a fifty day moving average of $13.71 and a two-hundred day moving average of $13.17. The company has a market capitalization of $1.36 billion, a PE ratio of 7.38 and a beta of 1.86.

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, topping the consensus estimate 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 firm had revenue of $115.95 million for the quarter. During the same quarter in the prior year, the business posted ($0.04) EPS. Research analysts anticipate that Two Harbors Investment Corp. will post 0.46 EPS for the current fiscal year.

Two Harbors Investment Dividend Announcement

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

Institutional Trading of Two Harbors Investment

Several large investors have recently modified their holdings of TWO. Norges Bank bought a new position in Two Harbors Investment during the 4th quarter valued at approximately $8,829,000. PNC Financial Services Group Inc. lifted its stake in Two Harbors Investment by 38.7% in the fourth 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 period. Quadrature Capital Ltd purchased a new stake in Two Harbors Investment in the fourth quarter worth $278,000. HighPoint Advisor Group LLC bought a new stake in Two Harbors Investment in the fourth quarter valued at $520,000. Finally, Howard Financial Services LTD. increased its position in 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 purchasing an additional 903 shares during the period. 64.19% of the stock is owned by institutional investors.

Two Harbors Investment Company Profile

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.