Two Harbors Investment (NYSE:TWO) Upgraded by Zacks Investment Research to “Hold”

Two Harbors Investment (NYSE:TWOGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, 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. “

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Two Harbors Investment from $6.50 to $5.00 and set a “neutral” rating for the company in a report on Monday, April 25th. StockNews.com upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. TheStreet lowered Two Harbors Investment from a “c” rating to a “d+” rating in a research report on Wednesday, February 9th. Finally, Credit Suisse Group decreased their target price on Two Harbors Investment from $6.00 to $5.25 and set a “neutral” rating for the company in a research report on Tuesday, March 8th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.81.

Two Harbors Investment stock opened at $5.38 on Friday. The stock has a 50-day simple moving average of $5.16 and a 200 day simple moving average of $5.47. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.44. Two Harbors Investment has a 12-month low of $4.71 and a 12-month high of $8.15. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.54 and a beta of 1.65.

Two Harbors Investment (NYSE:TWOGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Two Harbors Investment had a net margin of 147.67% and a return on equity of 16.21%. The business had revenue of $22.53 million during the quarter, compared to the consensus estimate of $27.42 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The business’s quarterly revenue was down 32.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Two Harbors Investment will post 0.64 EPS for the current year.

In other Two Harbors Investment news, CFO Mary Kathryn Riskey sold 15,114 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $4.97, for a total value of $75,116.58. Following the sale, the chief financial officer now owns 221,223 shares in the company, valued at approximately $1,099,478.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Ross Greenberg sold 34,955 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $4.99, for a total value of $174,425.45. Following the completion of the sale, the chief executive officer now owns 527,005 shares in the company, valued at approximately $2,629,754.95. The disclosure for this sale can be found here. Insiders sold a total of 86,421 shares of company stock valued at $431,131 over the last quarter. 0.42% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in TWO. FMR LLC raised its stake in shares of Two Harbors Investment by 41.7% during the 1st quarter. FMR LLC now owns 522,941 shares of the real estate investment trust’s stock worth $7,076,000 after purchasing an additional 153,900 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Two Harbors Investment by 1.0% during the 3rd quarter. Alliancebernstein L.P. now owns 421,180 shares of the real estate investment trust’s stock worth $2,670,000 after purchasing an additional 4,081 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Two Harbors Investment during the 3rd quarter worth approximately $117,000. Geode Capital Management LLC raised its stake in shares of Two Harbors Investment by 11.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,993,006 shares of the real estate investment trust’s stock worth $31,655,000 after purchasing an additional 528,592 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Two Harbors Investment by 4.2% during the 3rd quarter. Credit Suisse AG now owns 2,118,700 shares of the real estate investment trust’s stock worth $13,432,000 after purchasing an additional 85,822 shares in the last quarter. Institutional investors own 68.67% of the company’s stock.

About Two Harbors Investment (Get Rating)

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); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.

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