Kempen Capital Management N.V. lowered its position in Two Harbors Investments Corp (NYSE:TWO) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,426,912 shares of the real estate investment trust’s stock after selling 108,600 shares during the period. Two Harbors Investments Corp comprises 2.7% of Kempen Capital Management N.V.’s portfolio, making the stock its 18th largest position. Kempen Capital Management N.V. owned 0.70% of Two Harbors Investments Corp worth $23,274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of TWO. FJ Capital Management LLC acquired a new position in Two Harbors Investments Corp during the fourth quarter valued at $100,000. Dynamic Technology Lab Private Ltd acquired a new position in Two Harbors Investments Corp during the fourth quarter valued at $107,000. Sustainable Insight Capital Management LLC purchased a new position in shares of Two Harbors Investments Corp during the fourth quarter worth approximately $107,000. Cadence Capital Management LLC purchased a new position in shares of Two Harbors Investments Corp during the first quarter worth approximately $116,000. Finally, World Asset Management Inc increased its position in shares of Two Harbors Investments Corp by 0.7% in the first quarter. World Asset Management Inc now owns 12,407 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 83 shares during the period. 70.81% of the stock is currently owned by hedge funds and other institutional investors.
Two Harbors Investments Corp (NYSE TWO) traded up 0.97% during midday trading on Friday, hitting $10.37. 4,876,827 shares of the stock were exchanged. The firm’s 50-day moving average price is $10.00 and its 200 day moving average price is $9.40. Two Harbors Investments Corp has a 1-year low of $7.91 and a 1-year high of $10.38. The firm has a market capitalization of $3.62 billion, a P/E ratio of 7.04 and a beta of 0.61.
Two Harbors Investments Corp (NYSE:TWO) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $116.20 million for the quarter, compared to analyst estimates of $107.90 million. Two Harbors Investments Corp had a net margin of 74.05% and a return on equity of 9.81%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. Analysts expect that Two Harbors Investments Corp will post $1.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Friday, June 30th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.04 annualized dividend and a yield of 10.03%. This is a positive change from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. Two Harbors Investments Corp’s payout ratio is presently 72.99%.
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A number of brokerages have commented on TWO. Wells Fargo & Company downgraded Two Harbors Investments Corp from an “outperform” rating to a “market perform” rating and set a $9.50 target price on the stock. in a research note on Tuesday, April 11th. They noted that the move was a valuation call. Zacks Investment Research downgraded Two Harbors Investments Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Maxim Group reissued a “buy” rating and set a $10.25 price objective on shares of Two Harbors Investments Corp in a research report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.73.
In other news, CFO Brad Farrell sold 19,663 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $9.86, for a total transaction of $193,877.18. Following the completion of the transaction, the chief financial officer now directly owns 410,727 shares of the company’s stock, valued at $4,049,768.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Rebecca B. Sandberg sold 5,566 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $9.85, for a total transaction of $54,825.10. Following the sale, the general counsel now directly owns 179,466 shares of the company’s stock, valued at $1,767,740.10. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.
Two Harbors Investments Corp Company Profile
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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