Two Harbors Investment Corp (NYSE: TWO) was downgraded by equities research analysts at Compass Point from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $14.75 price target on the stock, up from their previous price target of $12.50.
The analysts wrote, “While the near term outlook for levered MBS investing remains stable and the company has made significant progress in their business diversification efforts, the current share price reflects this optimism and further multiple expansion would require a more dramatic re-deployment of capital. In addition to the Silver Bay transaction, investing in asset classes such as whole loans, excess MSRs as well as other new business initiatives will continue to differentiate TWO from other mortgage REITs and justify a premium valuation. The recent capital raise, a steeper yield curve and a diversified investment approach should allow TWO to effectively navigate many of the headwinds that will face MBS investors.”
Several other analysts have also recently commented on the stock. Analysts at KBW raised their price target on shares of Two Harbors Investment Corp from $12.50 to $14.00 in a research note to investors on Wednesday, March 20th. They now have an “outperform” rating on the stock. Separately, analysts at Maxim Group raised their price target on shares of Two Harbors Investment Corp from $13.00 to $14.50 in a research note to investors on Wednesday, March 20th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Two Harbors Investment Corp in a research note to investors on Tuesday, March 19th. They now have a $13.50 price target on the stock, up previously from $12.75.
Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $13.12.
Two Harbors Investment Corp (NYSE: TWO) opened at 13.74 on Tuesday. Two Harbors Investment Corp has a 52-week low of $9.85 and a 52-week high of $14.02. The stock’s 50-day moving average is currently $12.. The company has a market cap of $4.106 billion and a price-to-earnings ratio of 11.46.
Two Harbors Investment Corp (NYSE: TWO) last announced its earnings results on Wednesday, February 6th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.09.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 24th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date of this dividend is Thursday, March 28th.
Two Harbors Investment Corp. (NYSE: TWO) is an real estate investment trust (REIT), which focuses on investing in, financing and managing residential mortgage-backed securities (RMBS).