Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Two Harbors Investment Corp (NYSE:TWO) by 17.3% during the first quarter, HoldingsChannel.com reports. The fund owned 13,944 shares of the real estate investment trust’s stock after selling 2,919 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Two Harbors Investment were worth $189,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in TWO. Parallel Advisors LLC grew its holdings in shares of Two Harbors Investment by 39.1% during the fourth quarter. Parallel Advisors LLC now owns 2,797 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 786 shares during the last quarter. Barnett & Company Inc. bought a new stake in shares of Two Harbors Investment during the first quarter worth $43,000. Evolution Wealth Advisors LLC bought a new stake in shares of Two Harbors Investment during the fourth quarter worth $51,000. Meeder Asset Management Inc. bought a new stake in shares of Two Harbors Investment during the fourth quarter worth $60,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Two Harbors Investment by 135.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,700 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 57.01% of the company’s stock.
Shares of TWO opened at $13.11 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.40. 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 cap of $3.58 billion, a PE ratio of 6.59 and a beta of 0.52.
Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Two Harbors Investment had a positive return on equity of 14.23% and a negative net margin of 35.93%. The business had revenue of $82.00 million for the quarter, compared to analyst estimates of $84.64 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. Research analysts anticipate that Two Harbors Investment Corp will post 1.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Friday, March 29th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.34%. The ex-dividend date was Thursday, March 28th. Two Harbors Investment’s dividend payout ratio (DPR) is presently 95.43%.
In other news, CEO Thomas Siering purchased 3,500 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were acquired at an average price of $13.80 per share, with a total value of $48,300.00. Following the completion of the purchase, the chief executive officer now directly owns 1,104,342 shares of the company’s stock, valued at approximately $15,239,919.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Several brokerages have recently commented on TWO. ValuEngine upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research cut Two Harbors Investment from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Nomura began coverage on Two Harbors Investment in a report on Wednesday, March 27th. They set a “neutral” rating and a $18.00 target price on the stock. TheStreet cut Two Harbors Investment from a “c” rating to a “d+” rating in a report on Thursday, February 7th. Finally, Credit Suisse Group restated a “hold” rating and set a $14.00 target price on shares of Two Harbors Investment in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.89.
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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, and hybrid adjustable-rate mortgage (ARMs); 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.
Further Reading: Why do company’s buyback their stock?
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