Two Harbors Investment (NYSE:TWO) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
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. "
A number of other analysts also recently commented on TWO. BTIG Research set a $6.29 price target on Two Harbors Investment and gave the company a "hold" rating in a research report on Friday, July 23rd. Maxim Group reissued a "hold" rating on shares of Two Harbors Investment in a report on Friday, August 6th. TheStreet lowered Two Harbors Investment from a "c" rating to a "d+" rating in a report on Thursday, August 5th. Credit Suisse Group lowered Two Harbors Investment from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $7.75 to $7.50 in a report on Tuesday, June 29th. Finally, Royal Bank of Canada raised their price target on Two Harbors Investment from $7.00 to $7.50 and gave the stock an "outperform" rating in a report on Friday, August 13th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.03.
Shares of TWO opened at $6.45 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 4.08 and a beta of 1.82. The stock has a 50 day moving average of $6.51 and a 200 day moving average of $7.11. Two Harbors Investment has a 12 month low of $4.75 and a 12 month high of $8.15.
Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $0.19 EPS for the quarter, meeting the Zacks' consensus estimate of $0.19. The company had revenue of $19.00 million during the quarter, compared to the consensus estimate of $44.73 million. Two Harbors Investment had a return on equity of 16.29% and a net margin of 204.49%. Two Harbors Investment's revenue was down 58.0% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. As a group, equities research analysts predict that Two Harbors Investment will post 0.76 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TWO. Continuum Advisory LLC purchased a new position in shares of Two Harbors Investment in the second quarter worth about $46,000. Catalyst Capital Advisors LLC increased its holdings in shares of Two Harbors Investment by 42.1% in the second quarter. Catalyst Capital Advisors LLC now owns 6,650 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,970 shares during the period. Advisory Services Network LLC purchased a new position in shares of Two Harbors Investment in the second quarter worth about $52,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Two Harbors Investment in the first quarter worth about $63,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Two Harbors Investment in the first quarter worth about $73,000. Hedge funds and other institutional investors own 61.94% of the company's stock.
About Two Harbors Investment
Two Harbors Investment Corp. is a real estate investment trust, which engages in investing in, financing, and managing agency residential mortgage-backed securities, mortgage servicing rights, and other financial assets. Its objective is to provide risk-adjusted returns to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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