Two Harbors Investment (NYSE:TWO) Price Target Cut to $11.00 by Analysts at JPMorgan Chase & Co.

Two Harbors Investment (NYSE:TWO) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $11.50 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 7.99% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Compass Point reduced their price target on Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating for the company in a research report on Monday, November 25th. Royal Bank of Canada reduced their price target on Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. StockNews.com upgraded Two Harbors Investment to a “sell” rating in a research report on Thursday, December 12th. Finally, JMP Securities reduced their price target on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Two Harbors Investment currently has an average rating of “Hold” and a consensus target price of $13.63.

Two Harbors Investment Trading Up 1.1 %

Two Harbors Investment stock opened at $11.96 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. Two Harbors Investment has a 52 week low of $10.84 and a 52 week high of $14.27. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -2.48 and a beta of 1.83. The stock has a 50-day moving average price of $11.69 and a 200 day moving average price of $12.73.

Two Harbors Investment (NYSE:TWO) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $112.64 million for the quarter. Two Harbors Investment had a positive return on equity of 4.45% and a negative net margin of 87.84%. During the same period last year, the business earned ($0.01) earnings per share. Sell-side analysts anticipate that Two Harbors Investment will post 0.47 EPS for the current year.

Insider Transactions at Two Harbors Investment

In other news, CIO Nicholas Letica sold 3,956 shares of Two Harbors Investment stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $11.21, for a total value of $44,346.76. Following the sale, the executive now directly owns 180,712 shares of the company’s stock, valued at $2,025,781.52. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rebecca B. Sandberg sold 3,785 shares of Two Harbors Investment stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $11.14, for a total value of $42,164.90. Following the completion of the sale, the insider now directly owns 152,378 shares in the company, valued at $1,697,490.92. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,754 shares of company stock valued at $333,307 over the last ninety days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Two Harbors Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TWO. Mercer Global Advisors Inc. ADV acquired a new position in Two Harbors Investment during the second quarter worth $192,000. Intech Investment Management LLC acquired a new position in Two Harbors Investment during the second quarter worth $180,000. Sei Investments Co. boosted its stake in Two Harbors Investment by 21.0% during the second quarter. Sei Investments Co. now owns 117,451 shares of the real estate investment trust’s stock worth $1,552,000 after buying an additional 20,403 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Two Harbors Investment by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 227,705 shares of the real estate investment trust’s stock worth $3,008,000 after buying an additional 16,169 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in Two Harbors Investment during the second quarter worth $147,000. Institutional investors and hedge funds own 64.19% of the company’s stock.

About Two Harbors Investment

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.