Two Harbors Investments (NYSE:TWO) Cut to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Two Harbors Investments (NYSE:TWO) from a neutral rating to an underweight rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $11.00 price target on the real estate investment trust’s stock, down from their previous price target of $12.50.

Other equities research analysts have also issued research reports about the company. Compass Point lowered Two Harbors Investments from a “buy” rating to a “neutral” rating in a research report on Friday, March 27th. Maxim Group lowered Two Harbors Investments from a “buy” rating to a “hold” rating in a research report on Thursday, December 18th. Zacks Research upgraded Two Harbors Investments from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. UBS Group lowered Two Harbors Investments from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $11.00 to $14.00 in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Two Harbors Investments in a research report on Monday, December 29th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Two Harbors Investments currently has a consensus rating of “Reduce” and an average price target of $12.45.

Two Harbors Investments Price Performance

Two Harbors Investments stock opened at $11.12 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Two Harbors Investments has a 52 week low of $8.78 and a 52 week high of $14.17. The stock has a market capitalization of $1.17 billion, a P/E ratio of -2.27 and a beta of 1.08. The stock has a fifty day moving average of $10.62 and a 200-day moving average of $10.66.

Two Harbors Investments (NYSE:TWO) last posted its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The business had revenue of $182.18 million for the quarter, compared to analyst estimates of ($15.44) million. Two Harbors Investments had a positive return on equity of 12.00% and a negative net margin of 109.90%. On average, sell-side analysts expect that Two Harbors Investments will post 0.81 earnings per share for the current fiscal year.

Two Harbors Investments Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Thursday, April 2nd were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend was Thursday, April 2nd. Two Harbors Investments’s dividend payout ratio is -27.81%.

Institutional Trading of Two Harbors Investments

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Two Harbors Investments in the fourth quarter worth approximately $130,000. XTX Topco Ltd raised its stake in shares of Two Harbors Investments by 786.2% in the fourth quarter. XTX Topco Ltd now owns 131,618 shares of the real estate investment trust’s stock worth $1,382,000 after purchasing an additional 116,766 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Two Harbors Investments in the fourth quarter valued at approximately $634,000. Tudor Investment Corp ET AL bought a new position in shares of Two Harbors Investments in the fourth quarter valued at approximately $121,000. Finally, Man Group plc bought a new position in shares of Two Harbors Investments in the fourth quarter valued at approximately $1,916,000. 64.19% of the stock is owned by hedge funds and other institutional investors.

Two Harbors Investments Company Profile

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.