Fmr LLC Has $52,428,000 Stake in Two Harbors Investment Corp (TWO)
Fmr LLC reduced its stake in shares of Two Harbors Investment Corp (NYSE:TWO) by 15.3% during the fourth quarter, Holdings Channel reports. The fund owned 6,012,402 shares of the real estate investment trust’s stock after selling 1,086,300 shares during the period. Fmr LLC’s holdings in Two Harbors Investment Corp were worth $52,428,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TWO. Greenleaf Trust bought a new stake in Two Harbors Investment Corp during the third quarter valued at approximately $107,000. Tower Research Capital LLC TRC bought a new stake in Two Harbors Investment Corp during the third quarter valued at approximately $111,000. World Asset Management Inc acquired a new position in Two Harbors Investment Corp during the third quarter valued at about $118,000. Sheaff Brock Investment Advisors LLC boosted its position in Two Harbors Investment Corp by 10.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 15,740 shares of the real estate investment trust’s stock valued at $134,000 after buying an additional 1,542 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new position in Two Harbors Investment Corp during the third quarter valued at about $143,000. 70.02% of the stock is owned by institutional investors and hedge funds.
Shares of Two Harbors Investment Corp (NYSE:TWO) opened at 9.62 on Tuesday. Two Harbors Investment Corp has a one year low of $7.56 and a one year high of $9.66. The firm’s 50-day moving average price is $9.11 and its 200-day moving average price is $8.76. The firm has a market cap of $3.36 billion, a PE ratio of 9.52 and a beta of 0.56.
Two Harbors Investment Corp (NYSE:TWO) last announced its earnings results on Monday, February 6th. The real estate investment trust reported $0.24 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. Two Harbors Investment Corp had a return on equity of 9.19% and a net margin of 55.77%. The firm had revenue of $112.87 million for the quarter, compared to analysts’ expectations of $104.14 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. Equities research analysts expect that Two Harbors Investment Corp will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 27th. Shareholders of record on Friday, March 31st will be given a $0.25 dividend. This is a positive change from Two Harbors Investment Corp’s previous quarterly dividend of $0.24. The ex-dividend date is Wednesday, March 29th. This represents a $1.00 annualized dividend and a yield of 10.40%. Two Harbors Investment Corp’s payout ratio is 105.49%.
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Several equities analysts have issued reports on TWO shares. Zacks Investment Research cut Two Harbors Investment Corp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 11th. FBR & Co restated a “hold” rating and issued a $9.00 price target on shares of Two Harbors Investment Corp in a report on Wednesday, February 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $9.54.
In other Two Harbors Investment Corp news, CEO Thomas Siering purchased 4,000 shares of the firm’s stock in a transaction on Friday, February 10th. The shares were purchased at an average price of $8.94 per share, for a total transaction of $35,760.00. Following the completion of the transaction, the chief executive officer now owns 1,144,152 shares in the company, valued at approximately $10,228,718.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad Farrell sold 28,901 shares of Two Harbors Investment Corp stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $8.58, for a total transaction of $247,970.58. Following the completion of the transaction, the chief financial officer now owns 446,327 shares in the company, valued at approximately $3,829,485.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,696 shares of company stock worth $569,368. 0.96% of the stock is currently owned by company insiders.
About Two Harbors Investment Corp
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), residential mortgage loans, mortgage servicing rights (MSR), commercial real estate and other financial assets. The Company’s target asset classes include Agency RMBS collateralized by fixed rate mortgage loans, adjustable-rate mortgage (ARM) loans or hybrid mortgage loans, including mortgage pass-through certificates, collateralized mortgage obligations, the Federal Home Loan Mortgage Corporation gold certificates, the Federal National Mortgage Association certificates, the Government National Mortgage Association (Ginnie Mae) certificates, to-be-announced forward contracts, and interest-only and inverse interest-only securities; Non-Agency RMBS, including both senior and mezzanine RMBS, and floating and fixed rate commercial real estate loans.
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