Pinnacle Financial Partners Inc. raised its stake in Two Harbors Investment Corp (NYSE:TWO) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,800 shares of the real estate investment trust’s stock after acquiring an additional 4,500 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Two Harbors Investment were worth $311,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Tyers Asset Management LLC raised its holdings in Two Harbors Investment by 7.1% in the 2nd quarter. Tyers Asset Management LLC now owns 81,200 shares of the real estate investment trust’s stock valued at $1,283,000 after acquiring an additional 5,360 shares during the period. State of Alaska Department of Revenue raised its holdings in Two Harbors Investment by 40.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,040 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 5,440 shares during the period. Riverhead Capital Management LLC raised its holdings in Two Harbors Investment by 7.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 89,655 shares of the real estate investment trust’s stock valued at $1,417,000 after acquiring an additional 5,900 shares during the period. Atria Investments LLC raised its holdings in Two Harbors Investment by 32.4% in the 2nd quarter. Atria Investments LLC now owns 24,456 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 5,981 shares during the period. Finally, James Investment Research Inc. bought a new position in Two Harbors Investment in the 2nd quarter valued at about $118,000. 46.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TWO opened at $14.73 on Friday. Two Harbors Investment Corp has a 12 month low of $13.85 and a 12 month high of $16.83. The company has a market cap of $3.64 billion, a PE ratio of 7.38 and a beta of 0.31. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47.
Two Harbors Investment (NYSE:TWO) last announced its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.06. Two Harbors Investment had a net margin of 80.75% and a return on equity of 11.49%. The company had revenue of $172.12 million for the quarter. As a group, equities analysts predict that Two Harbors Investment Corp will post 1.93 EPS for the current year.
The firm also recently announced a special dividend, which was paid on Monday, October 29th. Stockholders of record on Monday, October 1st were issued a dividend of $0.3116 per share. The ex-dividend date of this dividend was Friday, September 28th. This is a boost from Two Harbors Investment’s previous special dividend of $0.16. This represents a dividend yield of 12.34%. Two Harbors Investment’s dividend payout ratio (DPR) is currently 60.10%.
Several research firms have weighed in on TWO. Zacks Investment Research cut shares of Two Harbors Investment from a “hold” rating to a “sell” rating in a report on Friday, July 27th. JPMorgan Chase & Co. increased 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 report on Monday, July 23rd. ValuEngine raised shares of Two Harbors Investment from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Raymond James began coverage on shares of Two Harbors Investment in a report on Thursday, October 11th. They set an “outperform” rating and a $16.50 target price on the stock. Finally, Barclays set a $17.00 target price on shares of Two Harbors Investment and gave the stock a “buy” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.43.
In other news, Director James J. Bender sold 3,460 shares of the firm’s 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 transaction, the director now directly owns 24,065 shares of the company’s stock, valued at $375,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Siering bought 5,000 shares of the stock in a transaction dated Wednesday, August 15th. The shares were acquired at an average cost of $15.41 per share, for a total transaction of $77,050.00. The disclosure for this purchase can be found here. 1.41% of the stock is currently owned by company insiders.
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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