Ieq Capital LLC Purchases Shares of 30,183 Two Harbors Investments Corp $TWO

Key Points

• Ieq Capital LLC has invested $403,000 in Two Harbors Investments Corp, acquiring 30,183 shares during the first quarter.
• Several institutional investors have increased their stakes in Two Harbors Investments, with notable increases of over 200% from Smartleaf Asset Management.
• Analysts have set a consensus target price of $12.43 for the stock, with recent price targets being adjusted downwards by multiple firms.

Ieq Capital LLC purchased a new stake in shares of Two Harbors Investments Corp (NYSE:TWO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,183 shares of the real estate investment trust's stock, valued at approximately $403,000.

A number of other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in Two Harbors Investments by 13.6% during the fourth quarter. Ameriprise Financial Inc. now owns 1,371,702 shares of the real estate investment trust's stock valued at $16,227,000 after acquiring an additional 164,452 shares during the last quarter. Northern Trust Corp increased its position in Two Harbors Investments by 5.8% during the fourth quarter. Northern Trust Corp now owns 1,181,547 shares of the real estate investment trust's stock valued at $13,978,000 after acquiring an additional 65,194 shares during the last quarter. Bank of America Corp DE increased its position in Two Harbors Investments by 8.4% during the fourth quarter. Bank of America Corp DE now owns 1,170,339 shares of the real estate investment trust's stock valued at $13,845,000 after acquiring an additional 90,875 shares during the last quarter. Millennium Management LLC increased its position in Two Harbors Investments by 1,052.4% during the fourth quarter. Millennium Management LLC now owns 1,090,851 shares of the real estate investment trust's stock valued at $12,905,000 after acquiring an additional 996,188 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Two Harbors Investments by 9.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 790,316 shares of the real estate investment trust's stock valued at $9,349,000 after acquiring an additional 67,325 shares during the last quarter. Hedge funds and other institutional investors own 64.19% of the company's stock.

Two Harbors Investments Stock Performance

TWO traded down $0.06 during midday trading on Wednesday, reaching $10.20. The company had a trading volume of 138,225 shares, compared to its average volume of 1,705,839. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.08. Two Harbors Investments Corp has a 1 year low of $9.49 and a 1 year high of $14.28. The business has a 50-day moving average of $10.11 and a two-hundred day moving average of $11.30. The company has a market cap of $1.06 billion, a P/E ratio of -2.86 and a beta of 1.28.

Two Harbors Investments (NYSE:TWO - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Two Harbors Investments had a positive return on equity of 9.39% and a negative net margin of 67.06%.The firm had revenue of ($18.12) million during the quarter, compared to analysts' expectations of ($23.29) million. As a group, equities research analysts predict that Two Harbors Investments Corp will post 0.81 earnings per share for the current fiscal year.

Two Harbors Investments Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Investors of record on Friday, October 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.36 annualized dividend and a dividend yield of 13.3%. Two Harbors Investments's dividend payout ratio (DPR) is currently -43.82%.

Insider Activity

In related news, CIO Nicholas Letica sold 8,654 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $10.02, for a total transaction of $86,713.08. Following the completion of the sale, the executive owned 160,281 shares in the company, valued at approximately $1,606,015.62. This trade represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

TWO has been the subject of a number of research reports. Royal Bank Of Canada reduced their price objective on Two Harbors Investments from $13.00 to $12.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 28th. UBS Group reduced their price objective on Two Harbors Investments from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. Maxim Group reduced their price objective on Two Harbors Investments from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. JMP Securities reiterated a "market perform" rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Finally, Citizens Jmp restated a "market perform" rating on shares of Two Harbors Investments in a research report on Thursday, July 3rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Two Harbors Investments has a consensus rating of "Hold" and a consensus price target of $12.43.

Two Harbors Investments Company Profile

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.