Insider Buying: Two Harbors Investments Corp (NYSE:TWO) Major Shareholder Buys 25,000 Shares of Stock
Two Harbors Investments Corp (NYSE:TWO) major shareholder Two Harbors Investment Corp. bought 25,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $19.07 per share, for a total transaction of $476,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Two Harbors Investment Corp. also recently made the following trade(s):
- On Friday, August 11th, Two Harbors Investment Corp. bought 3,440 shares of Two Harbors Investments Corp stock. The shares were acquired at an average price of $19.10 per share, for a total transaction of $65,704.00.
- On Thursday, August 10th, Two Harbors Investment Corp. bought 14,772 shares of Two Harbors Investments Corp stock. The shares were acquired at an average price of $19.10 per share, for a total transaction of $282,145.20.
Shares of Two Harbors Investments Corp (TWO) traded down 0.50% during midday trading on Friday, reaching $9.99. The company had a trading volume of 3,392,058 shares. The company has a 50 day moving average of $9.91 and a 200 day moving average of $9.69. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 6.52 and a beta of 0.59. Two Harbors Investments Corp has a 12-month low of $7.91 and a 12-month high of $10.54.
Two Harbors Investments Corp (NYSE:TWO) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $117.79 million for the quarter, compared to analysts’ expectations of $123.04 million. Two Harbors Investments Corp had a return on equity of 10.26% and a net margin of 72.15%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Analysts anticipate that Two Harbors Investments Corp will post $1.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Shareholders of record on Friday, June 30th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 10.41%. This is a boost from Two Harbors Investments Corp’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, June 28th. Two Harbors Investments Corp’s dividend payout ratio (DPR) is presently 72.73%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in Two Harbors Investments Corp during the first quarter valued at approximately $106,000. Synovus Financial Corp bought a new position in Two Harbors Investments Corp during the second quarter valued at approximately $113,000. Cadence Capital Management LLC bought a new position in Two Harbors Investments Corp during the first quarter valued at approximately $116,000. World Asset Management Inc increased its position in Two Harbors Investments Corp by 0.7% in the first quarter. World Asset Management Inc now owns 12,407 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 83 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in Two Harbors Investments Corp during the first quarter valued at approximately $120,000. 71.02% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on TWO. Credit Suisse Group reiterated a “buy” rating and set a $10.00 target price on shares of Two Harbors Investments Corp in a research note on Thursday. Maxim Group reiterated a “buy” rating and set a $10.25 target price on shares of Two Harbors Investments Corp in a research note on Tuesday. BidaskClub upgraded Two Harbors Investments Corp from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research cut Two Harbors Investments Corp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.95.
About Two Harbors Investments 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), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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