Two Harbors Investment (TWO) Stock Rating Upgraded by Zacks Investment Research
Two Harbors Investment (NYSE:TWO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The brokerage presently has a $18.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.65% from the company’s previous close.
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. “
TWO has been the subject of several other research reports. ValuEngine raised Two Harbors Investment from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 2nd. Barclays boosted their price target on Two Harbors Investment from $10.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Maxim Group reissued a “buy” rating and issued a $17.00 price target (down previously from $20.50) on shares of Two Harbors Investment in a research note on Thursday, November 9th. Finally, B. Riley raised Two Harbors Investment from a “neutral” rating to a “buy” rating and lowered their price target for the company from $20.00 to $16.50 in a research note on Friday, November 10th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Two Harbors Investment presently has an average rating of “Buy” and an average price target of $17.93.
Two Harbors Investment (NYSE:TWO) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.24. Two Harbors Investment had a return on equity of 10.27% and a net margin of 63.23%. The company had revenue of $115.03 million for the quarter, compared to analysts’ expectations of $112.87 million. During the same quarter in the previous year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts forecast that Two Harbors Investment will post 2.08 earnings per share for the current year.
In related news, major shareholder Two Harbors Investment Corp. bought 4,741 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was purchased at an average price of $18.96 per share, with a total value of $89,889.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Taylor bought 9,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $15.64 per share, with a total value of $148,580.00. The disclosure for this purchase can be found here. Insiders have acquired 72,741 shares of company stock valued at $1,302,419 in the last ninety days. Company insiders own 1.16% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. bought a new stake in Two Harbors Investment during the third quarter worth approximately $101,000. Linscomb & Williams Inc. bought a new stake in Two Harbors Investment during the second quarter worth approximately $100,000. Clinton Group Inc. bought a new stake in Two Harbors Investment during the second quarter worth approximately $104,000. The Manufacturers Life Insurance Company boosted its position in Two Harbors Investment by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 11,974 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 718 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in Two Harbors Investment during the second quarter worth approximately $121,000.
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About Two Harbors Investment
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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