Sustainable Insight Capital Management LLC Has $2.84 Million Stake in Two Harbors Investments Corp (TWO)
Sustainable Insight Capital Management LLC lifted its stake in shares of Two Harbors Investments Corp (NYSE:TWO) by 108.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,200 shares of the real estate investment trust’s stock after purchasing an additional 148,700 shares during the quarter. Two Harbors Investments Corp comprises approximately 1.3% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 20th biggest position. Sustainable Insight Capital Management LLC owned about 0.08% of Two Harbors Investments Corp worth $2,836,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Clinton Group Inc. purchased a new stake in shares of Two Harbors Investments Corp during the second quarter worth approximately $104,000. HighTower Advisors LLC purchased a new stake in shares of Two Harbors Investments Corp during the first quarter worth approximately $106,000. Synovus Financial Corp purchased a new stake in shares of Two Harbors Investments Corp during the second quarter worth approximately $113,000. Cadence Capital Management LLC purchased a new stake in shares of Two Harbors Investments Corp during the first quarter worth approximately $116,000. Finally, World Asset Management Inc raised its stake in shares of Two Harbors Investments Corp by 0.7% during the first quarter. World Asset Management Inc now owns 12,407 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.
TWO has been the subject of several analyst reports. Maxim Group restated a “buy” rating and set a $10.25 price target on shares of Two Harbors Investments Corp in a research note on Wednesday, June 7th. Zacks Investment Research upgraded Two Harbors Investments Corp from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, July 20th. Credit Suisse Group restated a “buy” rating and set a $10.00 price target on shares of Two Harbors Investments Corp in a research note on Thursday, August 10th. Finally, BidaskClub cut Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Two Harbors Investments Corp presently has a consensus rating of “Buy” and an average price target of $9.95.
In other Two Harbors Investments Corp news, major shareholder Two Harbors Investment Corp. purchased 25,000 shares of Two Harbors Investments Corp stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $19.07 per share, for a total transaction of $476,750.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian Taylor purchased 32,000 shares of Two Harbors Investments Corp stock in a transaction on Tuesday, August 15th. The shares were acquired at an average price of $10.06 per share, with a total value of $321,920.00. Following the transaction, the director now directly owns 51,865 shares in the company, valued at approximately $521,761.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,829 shares of company stock valued at $1,925,821 in the last quarter. 1.16% of the stock is currently owned by insiders.
Two Harbors Investments Corp (TWO) traded up 0.29% on Thursday, reaching $10.20. The company’s stock had a trading volume of 1,079,795 shares. Two Harbors Investments Corp has a 52-week low of $7.91 and a 52-week high of $10.54. The firm has a 50-day moving average price of $10.11 and a 200 day moving average price of $9.97. The firm has a market capitalization of $3.56 billion, a P/E ratio of 6.65 and a beta of 0.58. Two Harbors Investments Corp shares are set to reverse split on Thursday, November 2nd. The 1-2 reverse split was announced on Thursday, September 14th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 1st.
Two Harbors Investments Corp (NYSE:TWO) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. Two Harbors Investments Corp had a return on equity of 10.26% and a net margin of 72.15%. The company had revenue of $117.79 million during the quarter, compared to analyst estimates of $123.04 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts anticipate that Two Harbors Investments Corp will post $1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 10.23%. Two Harbors Investments Corp’s dividend payout ratio (DPR) is presently 72.73%.
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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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