American Century Companies Inc. decreased its stake in shares of Two Harbors Investment Corp (NYSE:TWO) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,514,003 shares of the real estate investment trust’s stock after selling 341,106 shares during the period. American Century Companies Inc. owned approximately 0.61% of Two Harbors Investment worth $19,440,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Two Harbors Investment by 44.9% during the 3rd quarter. Vanguard Group Inc. now owns 21,929,421 shares of the real estate investment trust’s stock valued at $327,406,000 after acquiring an additional 6,798,312 shares in the last quarter. Vanguard Group Inc boosted its position in shares of 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 valued at $327,406,000 after purchasing an additional 6,798,312 shares in the last quarter. State Treasurer State of Michigan grew its stake in Two Harbors Investment by 2.9% in the fourth quarter. State Treasurer State of Michigan now owns 11,882,142 shares of the real estate investment trust’s stock worth $152,567,000 after purchasing an additional 330,000 shares during the period. Boston Partners grew its stake 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 worth $86,237,000 after purchasing an additional 416,706 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Two Harbors Investment by 13.1% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 3,543,900 shares of the real estate investment trust’s stock worth $45,504,000 after purchasing an additional 410,450 shares during the period. 61.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, General Counsel Rebecca B. Sandberg sold 16,073 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $14.47, for a total transaction of $232,576.31. Following the sale, the general counsel now owns 173,148 shares in the company, valued at $2,505,451.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William Roth sold 58,040 shares of the stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $14.46, for a total transaction of $839,258.40. Following the sale, the insider now owns 730,122 shares in the company, valued at approximately $10,557,564.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,572 shares of company stock valued at $1,859,327. 1.41% of the stock is owned by company insiders.
Several brokerages have commented on TWO. ValuEngine lowered Two Harbors Investment from a “sell” rating to a “strong sell” rating in a research report on Friday. Maxim Group reiterated a “buy” rating and issued a $15.00 price target on shares of Two Harbors Investment in a research note on Thursday, February 7th. Barclays set a $15.00 price target on shares of Two Harbors Investment and gave the stock a “buy” rating in a research note on Saturday, February 9th. Credit Suisse Group reissued a “hold” rating and set a $14.00 price target on shares of Two Harbors Investment in a research report on Thursday, February 7th. Finally, TheStreet cut shares of Two Harbors Investment from a “c” rating to a “d+” rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.89.
NYSE TWO opened at $13.54 on Friday. Two Harbors Investment Corp has a 12 month low of $12.63 and a 12 month high of $16.27. The firm has a market capitalization of $3.69 billion, a PE ratio of 6.87 and a beta of 0.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.15 and a current ratio of 1.15.
Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings results on Wednesday, February 6th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $89.65 million during the quarter, compared to analyst estimates of $106.46 million. Two Harbors Investment had a positive return on equity of 13.56% and a negative net margin of 4.12%. Two Harbors Investment’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Two Harbors Investment Corp will post 1.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 13.88%. Two Harbors Investment’s dividend payout ratio is currently 95.43%.
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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.
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