SummitTX Capital L.P. acquired a new stake in Two Harbors Investments Corp (NYSE:TWO – Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 50,100 shares of the real estate investment trust’s stock, valued at approximately $572,000.
Other institutional investors have also added to or reduced their stakes in the company. Rangeley Capital LLC purchased a new position in shares of Two Harbors Investments in the first quarter worth $114,000. Gabelli Funds LLC boosted its position in shares of Two Harbors Investments by 200.0% during the first quarter. Gabelli Funds LLC now owns 150,000 shares of the real estate investment trust’s stock valued at $1,713,000 after buying an additional 100,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in Two Harbors Investments by 132.8% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 119,385 shares of the real estate investment trust’s stock worth $1,363,000 after buying an additional 68,110 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in Two Harbors Investments in the 1st quarter worth about $114,000. Finally, Principal Financial Group Inc. raised its position in Two Harbors Investments by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 511,096 shares of the real estate investment trust’s stock worth $5,837,000 after buying an additional 13,746 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.
Two Harbors Investments Stock Performance
TWO opened at $12.09 on Friday. The company’s 50 day moving average is $12.25 and its 200 day moving average is $11.71. The company has a current ratio of 1.08, a quick ratio of 1.06 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -16.33 and a beta of 1.03. Two Harbors Investments Corp has a 12-month low of $8.78 and a 12-month high of $14.17.
Two Harbors Investments Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 11.3%. Two Harbors Investments’s payout ratio is presently -64.86%.
Wall Street Analysts Forecast Growth
TWO has been the topic of several research analyst reports. Zacks Research upgraded shares of Two Harbors Investments from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Compass Point reissued a “neutral” rating and set a $13.00 price target on shares of Two Harbors Investments in a report on Tuesday, June 9th. JPMorgan Chase & Co. raised their price target on Two Harbors Investments from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Two Harbors Investments in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their price objective on Two Harbors Investments from $11.00 to $12.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.75.
Check Out Our Latest Report on TWO
Two Harbors Investments Profile
Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.
Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.
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