Two Harbors Investment (NYSE:TWO) CFO Brad Farrell sold 9,966 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $15.55, for a total value of $154,971.30. Following the completion of the sale, the chief financial officer now owns 275,012 shares of the company’s stock, valued at $4,276,436.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
NYSE:TWO traded down $0.04 during mid-day trading on Wednesday, hitting $15.55. 982,435 shares of the stock were exchanged, compared to its average volume of 1,972,274. The stock has a market cap of $2.74 billion, a P/E ratio of 7.48 and a beta of 0.30. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42. Two Harbors Investment has a fifty-two week low of $13.85 and a fifty-two week high of $17.29.
Two Harbors Investment (NYSE:TWO) last released its quarterly earnings results on Tuesday, May 8th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $97.46 million during the quarter, compared to analysts’ expectations of $92.64 million. Two Harbors Investment had a return on equity of 10.83% and a net margin of 72.16%. During the same period last year, the firm posted $0.27 EPS. sell-side analysts forecast that Two Harbors Investment will post 1.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Monday, April 2nd were issued a $0.47 dividend. The ex-dividend date was Thursday, March 29th. This represents a $1.88 annualized dividend and a yield of 12.09%. Two Harbors Investment’s dividend payout ratio is presently 90.38%.
A number of research firms have weighed in on TWO. ValuEngine downgraded Two Harbors Investment from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research upgraded Two Harbors Investment from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Saturday, May 12th. Maxim Group decreased their price target on Two Harbors Investment from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, April 27th. Finally, B. Riley set a $17.00 price objective on Two Harbors Investment and gave the company a “buy” rating in a research report on Thursday, February 8th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.40.
A number of hedge funds and other institutional investors have recently made changes to their positions in TWO. Vaughan Nelson Investment Management L.P. acquired a new position in Two Harbors Investment in the 1st quarter valued at $50,485,000. APG Asset Management N.V. raised its holdings in Two Harbors Investment by 104.8% in the 4th quarter. APG Asset Management N.V. now owns 2,597,335 shares of the real estate investment trust’s stock valued at $35,170,000 after acquiring an additional 1,329,335 shares in the last quarter. Global X Management Co. LLC acquired a new position in Two Harbors Investment in the 1st quarter valued at $19,815,000. Two Sigma Investments LP raised its holdings in Two Harbors Investment by 560.9% in the 4th quarter. Two Sigma Investments LP now owns 1,223,681 shares of the real estate investment trust’s stock valued at $19,897,000 after acquiring an additional 1,038,525 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Two Harbors Investment by 164.7% in the 1st quarter. Prudential Financial Inc. now owns 1,176,413 shares of the real estate investment trust’s stock valued at $18,081,000 after acquiring an additional 731,976 shares in the last quarter. 65.83% of the stock is owned by hedge funds and other institutional investors.
About Two Harbors Investment
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, hybrid mortgage loans, or derivatives; 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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