Two Harbors Investments (NYSE:TWO) Rating Increased to Strong-Buy at Zacks Research

Two Harbors Investments (NYSE:TWO) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Two Harbors Investments in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Two Harbors Investments from $9.50 to $10.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Maxim Group cut their price target on shares of Two Harbors Investments from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Two Harbors Investments from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, UBS Group lowered their price objective on shares of Two Harbors Investments from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Two Harbors Investments presently has a consensus rating of “Hold” and an average price target of $12.36.

Two Harbors Investments Stock Down 1.5%

Shares of NYSE TWO opened at $9.53 on Wednesday. Two Harbors Investments has a 1 year low of $9.30 and a 1 year high of $14.28. The firm has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $10.41. The company has a market cap of $992.09 million, a P/E ratio of -3.81 and a beta of 1.30. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.07.

Two Harbors Investments (NYSE:TWO) last issued its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Two Harbors Investments had a positive return on equity of 11.92% and a negative net margin of 44.10%.The firm had revenue of ($23.50) million for the quarter. Research analysts anticipate that Two Harbors Investments will post 0.81 earnings per share for the current year.

Insider Buying and Selling

In other Two Harbors Investments news, CIO Nicholas Letica sold 8,654 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $10.02, for a total transaction of $86,713.08. Following the transaction, the executive owned 160,281 shares of the company’s stock, valued at approximately $1,606,015.62. This trade represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Two Harbors Investments

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in Two Harbors Investments by 1.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 5,240,983 shares of the real estate investment trust’s stock worth $57,074,000 after buying an additional 88,518 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Two Harbors Investments by 490.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 3,583,939 shares of the real estate investment trust’s stock valued at $38,599,000 after acquiring an additional 2,977,196 shares during the period. Invesco Ltd. raised its position in shares of Two Harbors Investments by 44.5% in the 2nd quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust’s stock worth $28,540,000 after acquiring an additional 815,931 shares in the last quarter. Algebris UK Ltd. purchased a new stake in shares of Two Harbors Investments during the 3rd quarter worth $17,558,000. Finally, Millennium Management LLC lifted its stake in shares of Two Harbors Investments by 10.6% during the 1st quarter. Millennium Management LLC now owns 1,206,549 shares of the real estate investment trust’s stock worth $16,119,000 after purchasing an additional 115,698 shares during the last quarter. 64.19% of the stock is owned by hedge funds and other institutional investors.

About Two Harbors Investments

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.