Glazer Capital LLC Invests $11.96 Million in Two Harbors Investments Corp $TWO

Glazer Capital LLC bought a new position in shares of Two Harbors Investments Corp (NYSE:TWO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 963,745 shares of the real estate investment trust’s stock, valued at approximately $11,960,000.

Several other institutional investors also recently bought and sold shares of the stock. Bank of America Corp DE purchased a new stake in Two Harbors Investments in the 2nd quarter worth approximately $24,997,000. Man Group plc purchased a new position in shares of Two Harbors Investments during the 2nd quarter valued at approximately $10,318,000. Polar Asset Management Partners Inc. purchased a new position in shares of Two Harbors Investments during the 2nd quarter valued at approximately $4,133,000. Jupiter Topco LLC acquired a new position in shares of Two Harbors Investments in the 2nd quarter valued at $658,000. Finally, Legal & General Group Plc acquired a new position in shares of Two Harbors Investments in the 2nd quarter valued at $3,100,000. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on TWO. Weiss Ratings upgraded shares of Two Harbors Investments from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Zacks Research raised shares of Two Harbors Investments from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. BTIG Research reissued a “neutral” rating on shares of Two Harbors Investments in a research note on Wednesday. Compass Point restated a “neutral” rating and set a $13.00 target price on shares of Two Harbors Investments in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. lifted their price target on Two Harbors Investments from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.75.

Two Harbors Investments Price Performance

Shares of Two Harbors Investments stock opened at $12.18 on Friday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -16.46 and a beta of 1.04. The business has a 50 day simple moving average of $12.13 and a two-hundred day simple moving average of $11.60. Two Harbors Investments Corp has a 12 month low of $11.98 and a 12 month high of $12.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.08 and a quick ratio of 1.08.

Two Harbors Investments (NYSE:TWO) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. Two Harbors Investments had a positive return on equity of 12.79% and a negative net margin of 6.09%.The firm had revenue of $247.57 million for the quarter, compared to analyst estimates of $9.45 million. As a group, analysts predict that Two Harbors Investments Corp will post 0.89 EPS for the current fiscal year.

Two Harbors Investments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Two Harbors Investments’s payout ratio is -64.86%.

About Two Harbors Investments

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.