Vaughan Nelson Investment Management L.P. purchased a new stake in Two Harbors Investment (NYSE:TWO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,284,600 shares of the real estate investment trust’s stock, valued at approximately $50,485,000. Vaughan Nelson Investment Management L.P. owned approximately 1.87% of Two Harbors Investment at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in Two Harbors Investment by 217.8% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 6,588 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 4,515 shares during the last quarter. Advantage Investment Management LLC acquired a new stake in shares of Two Harbors Investment during the fourth quarter worth $112,000. Signaturefd LLC acquired a new stake in shares of Two Harbors Investment during the first quarter worth $113,000. Optimum Investment Advisors acquired a new stake in shares of Two Harbors Investment during the first quarter worth $139,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Two Harbors Investment in the first quarter valued at about $147,000. Hedge funds and other institutional investors own 65.83% of the company’s stock.
Several research analysts have recently weighed in on the company. ValuEngine cut Two Harbors Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Two Harbors Investment from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Saturday, May 12th. B. Riley set a $17.00 price objective on Two Harbors Investment and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Maxim Group dropped their price objective on Two Harbors Investment from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.40.
Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data on Tuesday, May 8th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $97.46 million during the quarter, compared to analyst estimates of $92.64 million. Two Harbors Investment had a return on equity of 10.83% and a net margin of 72.16%. During the same period last year, the company posted $0.27 EPS. analysts expect that Two Harbors Investment will post 1.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Monday, April 2nd were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $1.88 dividend on an annualized basis and a yield of 12.07%. Two Harbors Investment’s dividend payout ratio (DPR) is currently 90.38%.
In related news, CFO Brad Farrell sold 9,966 shares of Two Harbors Investment stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $15.55, for a total value of $154,971.30. Following the sale, the chief financial officer now owns 275,012 shares of the company’s stock, valued at approximately $4,276,436.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Roth sold 16,141 shares of Two Harbors Investment stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $15.55, for a total transaction of $250,992.55. Following the completion of the sale, the insider now directly owns 728,704 shares in the company, valued at approximately $11,331,347.20. The disclosure for this sale can be found here. Insiders sold a total of 28,925 shares of company stock worth $449,784 in the last 90 days. Company insiders own 1.41% of the company’s stock.
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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