- "We continue to find a lot to like about the company, including the well-hedged and well-diversified portfolio, high allocation to credit, and the loan sourcing capabilities. Two Harbors (TWO +0.8%) is an active jumbo securitizer and has a growing commercial mortgage origination business," says KBW.
- The above argue for some valuation premium, says KBW, but a 6.3% discount is pretty narrow in today's mREIT space. The team downgrades to Market Perform with $11 price target, and rotates into Invesco Mortgage (IVR) which trades at a discount closer to 20%.
- Previously: Two Harbors edges higher after Q1 results (May 6)
Two Harbors downgraded on valuation
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About TWO Stock
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Symbol | Last Price | % Chg |
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TWO | - | - |
Two Harbors Investment Corp. |