James Investment Research Inc. reduced its stake in shares of Two Harbors Investment Corp (NYSE:TWO) by 48.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,200 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. James Investment Research Inc.’s holdings in Two Harbors Investment were worth $43,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Two Harbors Investment by 44.9% during the third quarter. Vanguard Group Inc. now owns 21,929,421 shares of the real estate investment trust’s stock worth $327,406,000 after buying an additional 6,798,312 shares in the last quarter. Norges Bank purchased a new stake in Two Harbors Investment in the fourth quarter valued at $37,166,000. APG Asset Management N.V. raised its position in Two Harbors Investment by 1,042.7% in the fourth quarter. APG Asset Management N.V. now owns 1,113,553 shares of the real estate investment trust’s stock valued at $12,508,000 after purchasing an additional 1,016,100 shares during the period. LSV Asset Management raised its position in Two Harbors Investment by 31.5% in the fourth quarter. LSV Asset Management now owns 3,496,728 shares of the real estate investment trust’s stock valued at $44,897,000 after purchasing an additional 837,952 shares during the period. Finally, Boston Partners raised its position in Two Harbors Investment by 6.6% in the fourth quarter. Boston Partners now owns 6,716,304 shares of the real estate investment trust’s stock valued at $86,237,000 after purchasing an additional 416,706 shares during the period. Institutional investors own 62.12% of the company’s stock.
TWO has been the topic of a number of research analyst reports. Barclays set a $15.00 target price on Two Harbors Investment and gave the company a “buy” rating in a research report on Saturday, February 9th. ValuEngine downgraded Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th. Maxim Group reiterated a “buy” rating and issued a $15.00 price objective on shares of Two Harbors Investment in a report on Thursday, February 7th. Credit Suisse Group reiterated a “hold” rating and issued a $14.00 price objective on shares of Two Harbors Investment in a report on Thursday, February 7th. Finally, TheStreet downgraded Two Harbors Investment from a “c” rating to a “d+” rating in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.89.
TWO traded down $0.11 on Wednesday, hitting $12.62. 3,189,814 shares of the company were exchanged, compared to its average volume of 2,838,390. Two Harbors Investment Corp has a twelve month low of $12.63 and a twelve month high of $16.27. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 6.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.31 and a quick ratio of 1.31.
Two Harbors Investment (NYSE:TWO) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $82.00 million during the quarter, compared to analysts’ expectations of $84.64 million. Two Harbors Investment had a positive return on equity of 14.23% and a negative net margin of 35.93%. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. On average, research analysts anticipate that Two Harbors Investment Corp will post 1.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Friday, March 29th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 14.90%. Two Harbors Investment’s dividend payout ratio is currently 95.43%.
Two Harbors Investment Profile
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.
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