Two Harbors Investment (NYSE:TWO) Reaches New 52-Week Low – Here’s Why

Shares of Two Harbors Investment Corp. (NYSE:TWO) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $11.47 and last traded at $11.48, with a volume of 328071 shares traded. The stock had previously closed at $11.50.

Analyst Ratings Changes

A number of research firms recently weighed in on TWO. StockNews.com downgraded Two Harbors Investment from a “hold” rating to a “sell” rating in a research note on Tuesday. Compass Point began coverage on shares of Two Harbors Investment in a research report on Thursday, October 3rd. They set a “buy” rating and a $15.75 target price on the stock. Janney Montgomery Scott started coverage on shares of Two Harbors Investment in a research note on Friday, August 16th. They set a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a research note on Wednesday. Finally, JMP Securities dropped their target price on shares of Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating for the company in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.71.

Two Harbors Investment Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.08 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $13.39 and a 200 day simple moving average of $13.17.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data 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 company 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 in the previous year, the company posted ($0.01) EPS. As a group, equities research analysts forecast that Two Harbors Investment Corp. will post 0.7 earnings per share for the current year.

Two Harbors Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 15.73%. Two Harbors Investment’s dividend payout ratio (DPR) is currently -37.34%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Two Harbors Investment by 48.2% in the second quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock valued at $11,324,000 after purchasing an additional 278,666 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Two Harbors Investment by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,702 shares of the real estate investment trust’s stock valued at $1,188,000 after acquiring an additional 5,284 shares during the last quarter. TrueMark Investments LLC purchased a new position in shares of Two Harbors Investment during the 2nd quarter worth about $577,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Two Harbors Investment by 155.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,317,877 shares of the real estate investment trust’s stock worth $18,516,000 after acquiring an additional 801,837 shares during the last quarter. Finally, LifePro Asset Management grew its holdings in Two Harbors Investment by 30.9% in the third quarter. LifePro Asset Management now owns 201,792 shares of the real estate investment trust’s stock valued at $2,801,000 after purchasing an additional 47,689 shares during the period. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Two Harbors Investment Company Profile

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.