Investors

Two Harbors Investment (NYSE:TWO) Downgraded by BidaskClub to “Hold”

Two Harbors Investment Corp. logoBidaskClub cut shares of Two Harbors Investment (NYSE:TWO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

TWO has been the subject of several other reports. Raymond James downgraded Two Harbors Investment from an outperform rating to a market perform rating in a report on Tuesday, November 24th. Keefe, Bruyette & Woods cut Two Harbors Investment from an outperform rating to a market perform rating and set a $6.75 price target on the stock. in a research report on Friday, December 18th. Jefferies Financial Group began coverage on Two Harbors Investment in a research report on Monday, December 14th. They issued a hold rating and a $6.50 price target on the stock. Zacks Investment Research upgraded Two Harbors Investment from a hold rating to a buy rating and set a $7.25 price target on the stock in a research report on Friday, December 18th. Finally, Barclays cut Two Harbors Investment from an overweight rating to an equal weight rating and set a $7.00 price target on the stock. in a research report on Thursday, December 10th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $7.72.

Two Harbors Investment stock opened at $6.54 on Wednesday. Two Harbors Investment has a fifty-two week low of $2.25 and a fifty-two week high of $15.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $1.79 billion, a P/E ratio of -1.05 and a beta of 1.60. The stock has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $5.54.

Two Harbors Investment (NYSE:TWO) last posted its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Two Harbors Investment had a positive return on equity of 8.85% and a negative net margin of 139.57%. The business had revenue of $60.53 million during the quarter, compared to the consensus estimate of $64.20 million. During the same period in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts forecast that Two Harbors Investment will post 0.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Wednesday, December 30th will be given a dividend of $0.17 per share. This is a boost from Two Harbors Investment’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, December 29th. This represents a $0.68 annualized dividend and a yield of 10.40%. Two Harbors Investment’s payout ratio is presently 40.88%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its position in Two Harbors Investment by 17.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 13,015 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,909 shares during the period. IHT Wealth Management LLC increased its position in Two Harbors Investment by 20.2% during the 3rd quarter. IHT Wealth Management LLC now owns 12,709 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 2,132 shares during the period. Accredited Investors Inc. grew its holdings in shares of Two Harbors Investment by 14.7% in the 3rd quarter. Accredited Investors Inc. now owns 16,685 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 2,133 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Two Harbors Investment by 47.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 13,451 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 4,300 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of Two Harbors Investment by 30.7% in the 3rd quarter. Cetera Investment Advisers now owns 19,234 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 4,519 shares during the period. Institutional investors own 61.62% of the company’s stock.

Two Harbors Investment Company Profile

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by residential mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.

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Analyst Recommendations for Two Harbors Investment (NYSE:TWO)

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The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Wednesday, December 30th will be given a dividend of $0.17 per share. This is a boost from Two Harbors Investment’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, December 29th. This represents a $0.68 annualized dividend and a yield of 10.40%. Two Harbors Investment’s payout ratio is presently 40.88%.

Source: https://rivertonroll.com/news/2020/12/27/two-harbors-investment-nysetwo-downgraded-by-bidaskclub-to-hold.html

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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