Fmr LLC trimmed its stake in Two Harbors Investment Corp (NYSE:TWO) by 95.9% during the second quarter, HoldingsChannel.com reports. The fund owned 266,354 shares of the real estate investment trust’s stock after selling 6,225,491 shares during the period. Fmr LLC’s holdings in Two Harbors Investment were worth $4,209,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in TWO. First Trust Advisors LP purchased a new stake in shares of Two Harbors Investment in the 2nd quarter valued at approximately $19,989,000. Wells Fargo & Company MN raised its stake in shares of Two Harbors Investment by 110.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,567,952 shares of the real estate investment trust’s stock valued at $24,774,000 after acquiring an additional 821,703 shares during the period. Standard Life Aberdeen plc purchased a new stake in shares of Two Harbors Investment in the 2nd quarter valued at approximately $9,459,000. KAMES CAPITAL plc raised its stake in shares of Two Harbors Investment by 113.1% in the 2nd quarter. KAMES CAPITAL plc now owns 771,183 shares of the real estate investment trust’s stock valued at $12,185,000 after acquiring an additional 409,229 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in shares of Two Harbors Investment in the 2nd quarter valued at approximately $2,345,000. 46.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of TWO stock opened at $14.21 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.70 billion, a P/E ratio of 6.91 and a beta of 0.26. Two Harbors Investment Corp has a fifty-two week low of $13.85 and a fifty-two week high of $16.83.
Two Harbors Investment (NYSE:TWO) last announced its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $172.12 million during the quarter. Two Harbors Investment had a net margin of 80.75% and a return on equity of 11.49%. As a group, research analysts predict that Two Harbors Investment Corp will post 1.89 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Monday, October 29th. Investors of record on Monday, October 1st will be issued a $0.3116 dividend. The ex-dividend date is Friday, September 28th. This represents a dividend yield of 12.34%. This is a boost from Two Harbors Investment’s previous special dividend of $0.16. Two Harbors Investment’s payout ratio is 60.10%.
In other Two Harbors Investment news, CEO Thomas Siering acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of $15.41 per share, for a total transaction of $77,050.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Bender sold 3,460 shares of Two Harbors Investment stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $15.60, for a total transaction of $53,976.00. Following the completion of the transaction, the director now owns 24,065 shares of the company’s stock, valued at approximately $375,414. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
A number of research firms have recently issued reports on TWO. Zacks Investment Research raised shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Compass Point set a $16.00 price target on shares of Two Harbors Investment and gave the company a “buy” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Two Harbors Investment from $15.00 to $16.50 and gave the company a “$15.84” rating in a research note on Monday, July 23rd. ValuEngine downgraded shares of Two Harbors Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, September 21st. Finally, Barclays set a $17.00 price target on shares of Two Harbors Investment and gave the company a “buy” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.58.
Two Harbors Investment Company 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, 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.
See Also: Beta
Want to see what other hedge funds are holding TWO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Two Harbors Investment Corp (NYSE:TWO).
Receive News & Ratings for Two Harbors Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Two Harbors Investment and related companies with MarketBeat.com's FREE daily email newsletter.