State Street Corp Raises Stake in Two Harbors Investment Corp. (NYSE:TWO)

State Street Corp increased its stake in shares of Two Harbors Investment Corp. (NYSE:TWO) by 2.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,877,111 shares of the real estate investment trust’s stock after buying an additional 102,294 shares during the quarter. State Street Corp’s holdings in Two Harbors Investment were worth $53,814,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Two Harbors Investment by 1,680.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 2,100 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in shares of Two Harbors Investment in the third quarter worth $134,000. AQR Capital Management LLC purchased a new stake in shares of Two Harbors Investment in the 2nd quarter valued at about $147,000. QRG Capital Management Inc. raised its stake in Two Harbors Investment by 11.3% in the third quarter. QRG Capital Management Inc. now owns 12,100 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Teamwork Financial Advisors LLC bought a new stake in Two Harbors Investment during the third quarter valued at approximately $173,000. Institutional investors own 64.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Two Harbors Investment to a “sell” rating in a report on Thursday, December 12th. JMP Securities cut their price objective on 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. Compass Point dropped their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their price target on shares of Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.71.

Two Harbors Investment Price Performance

TWO stock opened at $11.51 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $12.04 and its two-hundred day moving average price is $12.96. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.39 and a beta of 1.85. Two Harbors Investment Corp. has a 12-month low of $11.28 and a 12-month high of $14.54.

Two Harbors Investment (NYSE:TWO) last released its quarterly 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 business had revenue of $112.64 million for the quarter. Two Harbors Investment had a negative net margin of 87.84% and a positive return on equity of 4.45%. During the same period last year, the firm earned ($0.01) earnings per share. As a group, equities analysts predict that Two Harbors Investment Corp. will post 0.47 earnings per share for the current year.

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.