Raymond James Financial Services Advisors Inc. grew its stake in shares of Two Harbors Investment Corp (NYSE:TWO) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,467 shares of the real estate investment trust’s stock after buying an additional 1,391 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Two Harbors Investment were worth $828,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of Two Harbors Investment by 39.1% in the 4th quarter. Parallel Advisors LLC now owns 2,797 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 786 shares during the period. Evolution Wealth Advisors LLC bought a new position in shares of Two Harbors Investment in the 4th quarter valued at about $51,000. Meeder Asset Management Inc. bought a new position in shares of Two Harbors Investment in the 4th quarter valued at about $60,000. Nisa Investment Advisors LLC grew its position in shares of Two Harbors Investment by 135.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,700 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 2,700 shares during the period. Finally, Pearl River Capital LLC bought a new position in shares of Two Harbors Investment in the 4th quarter valued at about $70,000. 61.51% of the stock is owned by institutional investors.
A number of research analysts have recently commented on the stock. ValuEngine downgraded shares of Two Harbors Investment from a “sell” rating to a “strong sell” rating in a research report on Friday, April 5th. Zacks Investment Research downgraded shares of Two Harbors Investment from a “buy” rating to a “hold” rating in a research report on Thursday. Nomura assumed coverage on shares of Two Harbors Investment in a research report on Wednesday, March 27th. They issued a “neutral” rating and a $18.00 price objective for the company. TheStreet downgraded shares of Two Harbors Investment from a “c” rating to a “d+” rating in a research report on Thursday, February 7th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $14.00 price objective on shares of Two Harbors Investment in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.89.
In other news, CFO Brad Farrell sold 29,095 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $14.48, for a total value of $421,295.60. Following the completion of the transaction, the chief financial officer now directly owns 265,087 shares in the company, valued at approximately $3,838,459.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Siering bought 3,500 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was purchased at an average price of $13.80 per share, with a total value of $48,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,104,342 shares in the company, valued at approximately $15,239,919.60. The disclosure for this purchase can be found here. Insiders sold a total of 128,572 shares of company stock valued at $1,859,327 over the last 90 days. Corporate insiders own 1.41% of the company’s stock.
NYSE TWO traded down $0.05 during trading on Monday, reaching $13.54. The company’s stock had a trading volume of 1,372,988 shares, compared to its average volume of 2,579,504. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.70 billion, a P/E ratio of 6.87 and a beta of 0.52. Two Harbors Investment Corp has a 12 month low of $12.63 and a 12 month high of $16.27.
Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data on Wednesday, February 6th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $89.65 million during the quarter, compared to the consensus estimate of $106.46 million. Two Harbors Investment had a negative net margin of 4.12% and a positive return on equity of 13.56%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Equities analysts expect that Two Harbors Investment Corp will post 1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Friday, March 29th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 13.88%. The ex-dividend date of this dividend is Thursday, March 28th. Two Harbors Investment’s payout ratio is presently 95.43%.
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.
Read More: Cost of Goods Sold (COGS)
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