Compass Point assumed coverage on shares of Two Harbors Investment (NYSE:TWO) in a research report report published on Monday morning, Benzinga reports. The brokerage issued a buy rating and a $15.20 price objective on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on TWO. Royal Bank of Canada initiated coverage on shares of Two Harbors Investment in a research note on Wednesday, October 2nd. They set an outperform rating and a $15.00 price target on the stock. Zacks Investment Research cut shares of Two Harbors Investment from a hold rating to a sell rating in a report on Friday, October 18th. Raymond James set a $15.00 price target on shares of Two Harbors Investment and gave the stock a buy rating in a report on Wednesday, August 21st. Nomura set a $14.00 price objective on shares of Two Harbors Investment and gave the company a hold rating in a research report on Wednesday, August 7th. Finally, ValuEngine raised Two Harbors Investment from a sell rating to a hold rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Two Harbors Investment has an average rating of Buy and a consensus target price of $14.59.
NYSE:TWO opened at $14.64 on Monday. The firm’s fifty day moving average price is $14.05 and its 200 day moving average price is $13.28. Two Harbors Investment has a 1-year low of $12.06 and a 1-year high of $14.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 7.43 and a beta of 0.63.
In related news, CEO Thomas Siering bought 4,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $14.42 per share, for a total transaction of $57,680.00. Following the transaction, the chief executive officer now owns 749,706 shares of the company’s stock, valued at $10,810,760.52. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Two Harbors Investment by 4.0% in the second quarter. Vanguard Group Inc. now owns 26,453,568 shares of the real estate investment trust’s stock valued at $335,167,000 after purchasing an additional 1,018,358 shares during the period. State Street Corp lifted its position in shares of Two Harbors Investment by 10.6% during the 3rd quarter. State Street Corp now owns 4,091,508 shares of the real estate investment trust’s stock valued at $55,336,000 after acquiring an additional 392,866 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Two Harbors Investment by 14.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,121,232 shares of the real estate investment trust’s stock worth $27,852,000 after acquiring an additional 259,914 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Two Harbors Investment by 2.0% during the 2nd quarter. Prudential Financial Inc. now owns 1,788,629 shares of the real estate investment trust’s stock worth $22,662,000 after acquiring an additional 34,584 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Two Harbors Investment by 7.0% in the 2nd quarter. Invesco Ltd. now owns 1,421,847 shares of the real estate investment trust’s stock worth $18,016,000 after acquiring an additional 92,724 shares during the period. Institutional investors and hedge funds own 61.71% of the company’s stock.
About Two Harbors Investment
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 prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime 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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