Utah Retirement Systems increased its stake in Two Harbors Investment Corp (NYSE:TWO) by 42.4% during the 3rd quarter, Holdings Channel reports. The firm owned 45,681 shares of the real estate investment trust’s stock after acquiring an additional 13,600 shares during the period. Utah Retirement Systems’ holdings in Two Harbors Investment were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wedbush Securities Inc. lifted its holdings in shares of Two Harbors Investment by 27.2% in the 3rd quarter. Wedbush Securities Inc. now owns 29,457 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 6,308 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Two Harbors Investment by 57.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,689,458 shares of the real estate investment trust’s stock worth $25,224,000 after purchasing an additional 619,708 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Two Harbors Investment in the 3rd quarter worth approximately $184,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Two Harbors Investment in the 3rd quarter worth approximately $32,716,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Two Harbors Investment by 44.7% in the 3rd quarter. Hsbc Holdings PLC now owns 22,665 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 7,005 shares during the last quarter. 60.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Two Harbors Investment stock opened at $14.43 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 7.37 and a beta of 0.31. Two Harbors Investment Corp has a 1-year low of $13.85 and a 1-year high of $16.83.
Two Harbors Investment (NYSE:TWO) last announced its earnings results on Tuesday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $84.30 million for the quarter, compared to the consensus estimate of $82.10 million. Two Harbors Investment had a return on equity of 12.09% and a net margin of 66.36%. During the same quarter in the previous year, the business earned $0.52 EPS. On average, research analysts forecast that Two Harbors Investment Corp will post 1.96 EPS for the current fiscal year.
TWO has been the topic of several recent research reports. Zacks Investment Research raised Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine downgraded Two Harbors Investment from a “sell” rating to a “strong sell” rating in a report on Friday, September 21st. Barclays set a $17.00 price target on Two Harbors Investment and gave the stock a “buy” rating in a report on Friday, August 10th. JMP Securities cut their target price on Two Harbors Investment from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 15th. Finally, Raymond James assumed coverage on Two Harbors Investment in a research note on Thursday, October 11th. They set an “outperform” rating and a $16.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.25.
In other Two Harbors Investment news, CFO Brad Farrell sold 4,000 shares of Two Harbors Investment stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $14.28, for a total transaction of $57,120.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Siering bought 3,500 shares of the business’s stock in a transaction on Monday, November 12th. The shares were acquired at an average cost of $14.41 per share, for a total transaction of $50,435.00. The disclosure for this purchase can be found here. 1.41% of the stock is owned by insiders.
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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, 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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