Two Harbors Investment (NYSE:TWO) Sees Unusually-High Trading Volume – Here’s What Happened

Two Harbors Investment Corp. (NYSE:TWO) shares saw an uptick in trading volume on Tuesday . 2,058,192 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 1,083,173 shares.The stock last traded at $12.22 and had previously closed at $12.81.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Compass Point started coverage on shares of Two Harbors Investment in a report on Thursday, October 3rd. They issued a “buy” rating and a $15.75 price objective for the company. JPMorgan Chase & Co. cut their price target on Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a research note on Wednesday. JMP Securities lowered their price objective on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com cut Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Janney Montgomery Scott began coverage on Two Harbors Investment in a report on Friday, August 16th. They set a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Two Harbors Investment presently has a consensus rating of “Hold” and an average price target of $14.71.

Two Harbors Investment Stock 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 company has a market cap of $1.22 billion, a P/E ratio of 28.72 and a beta of 1.85. The company has a 50 day moving average price of $13.43 and a 200-day moving average price of $13.18.

Two Harbors Investment (NYSE:TWO) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). Two Harbors Investment had a net margin of 27.71% and a return on equity of 3.64%. The business had revenue of $112.64 million during the quarter. During the same quarter in the previous year, the company posted ($0.01) EPS. On average, equities analysts expect that Two Harbors Investment Corp. will post 0.7 earnings per share for the current fiscal year.

Two Harbors Investment Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 15.29%. Two Harbors Investment’s dividend payout ratio is currently 439.02%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Two Harbors Investment by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 11,706,755 shares of the real estate investment trust’s stock worth $154,997,000 after acquiring an additional 1,135,012 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Two Harbors Investment by 1.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,281,220 shares of the real estate investment trust’s stock worth $73,303,000 after acquiring an additional 84,038 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Two Harbors Investment by 155.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,317,877 shares of the real estate investment trust’s stock valued at $18,516,000 after acquiring an additional 801,837 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Two Harbors Investment by 48.2% during the second quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock worth $11,324,000 after purchasing an additional 278,666 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Two Harbors Investment by 1.1% in the second quarter. Rhumbline Advisers now owns 310,806 shares of the real estate investment trust’s stock worth $4,106,000 after purchasing an additional 3,408 shares during the last quarter. 64.19% of the stock is currently owned by institutional investors and hedge funds.

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.