Bank of New York Mellon Corp lessened its holdings in shares of Two Harbors Investment Corp (NYSE:TWO) by 0.8% in the second quarter, HoldingsChannel.com reports. The fund owned 813,822 shares of the real estate investment trust’s stock after selling 6,310 shares during the quarter. Bank of New York Mellon Corp’s holdings in Two Harbors Investment were worth $12,859,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TWO. First Trust Advisors LP bought a new position in shares of Two Harbors Investment during the second quarter worth $19,989,000. Renaissance Technologies LLC bought a new position in shares of Two Harbors Investment during the second quarter worth $16,902,000. Wells Fargo & Company MN boosted its position in shares of Two Harbors Investment by 110.1% during the second quarter. Wells Fargo & Company MN now owns 1,567,952 shares of the real estate investment trust’s stock worth $24,774,000 after purchasing an additional 821,703 shares in the last quarter. Standard Life Aberdeen plc bought a new position in shares of Two Harbors Investment during the second quarter worth $9,459,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Two Harbors Investment by 113.4% during the second quarter. Advisors Asset Management Inc. now owns 980,016 shares of the real estate investment trust’s stock worth $15,484,000 after purchasing an additional 520,713 shares in the last quarter. 60.51% of the stock is owned by hedge funds and other institutional investors.
TWO has been the topic of a number of recent analyst reports. ValuEngine raised shares of Two Harbors Investment from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 6th. Zacks Investment Research raised shares of Two Harbors Investment from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Saturday, October 27th. JMP Securities reduced their price target on shares of Two Harbors Investment from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 15th. Raymond James initiated coverage on shares of Two Harbors Investment in a research report on Thursday, October 11th. They set an “outperform” rating and a $16.50 price target on the stock. Finally, Barclays set a $16.00 price target on shares of Two Harbors Investment and gave the stock a “buy” rating in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $16.25.
TWO opened at $14.43 on Friday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 6.94 and a beta of 0.31. Two Harbors Investment Corp has a 12 month low of $13.85 and a 12 month high of $16.83. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39.
Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data on Tuesday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The business had revenue of $84.30 million for the quarter, compared to analysts’ expectations of $82.10 million. Two Harbors Investment had a net margin of 66.36% and a return on equity of 12.09%. During the same period in the previous year, the firm posted $0.52 EPS. As a group, equities analysts forecast that Two Harbors Investment Corp will post 1.96 EPS for the current year.
Two Harbors Investment 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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