Two Harbors Investment (NYSE:TWO) Given New $11.50 Price Target at JPMorgan Chase & Co.

Two Harbors Investment (NYSE:TWO) had its target price trimmed by JPMorgan Chase & Co. from $13.50 to $11.50 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the company. JMP Securities reduced their target price on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a report on Thursday, October 17th. Janney Montgomery Scott began coverage on Two Harbors Investment in a research note on Friday, August 16th. They issued a “buy” rating and a $15.00 price objective on the stock. StockNews.com downgraded Two Harbors Investment from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Compass Point started coverage on shares of Two Harbors Investment in a research note on Thursday, October 3rd. They issued a “buy” rating and a $15.75 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.71.

Two Harbors Investment Stock Down 1.6 %

Shares of NYSE TWO opened at $11.78 on Wednesday. Two Harbors Investment has a 52 week low of $10.34 and a 52 week high of $14.59. The stock’s fifty day moving average is $13.43 and its 200 day moving average is $13.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $1.22 billion, a P/E ratio of 28.72 and a beta of 1.85.

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

Two Harbors Investment Announces Dividend

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

Institutional Investors Weigh In On Two Harbors Investment

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Two Harbors Investment by 1,680.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,100 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Two Harbors Investment by 38.7% during 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 purchasing an additional 2,306 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Two Harbors Investment during the 2nd quarter worth about $144,000. AQR Capital Management LLC bought a new stake in shares of Two Harbors Investment in the 2nd quarter valued at about $147,000. Finally, Legacy Financial Strategies LLC acquired a new stake in shares of Two Harbors Investment in the second quarter valued at about $170,000. 64.19% of the stock is currently owned by institutional investors and hedge funds.

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.