Ieq Capital LLC Invests $403,000 in 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 acquired a new position in shares of Two Harbors Investments Corp (NYSE:TWO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 30,183 shares of the real estate investment trust's stock, valued at approximately $403,000.

Several other hedge funds also recently made changes to their positions in TWO. CWM LLC grew its holdings in shares of Two Harbors Investments by 68.4% during the first quarter. CWM LLC now owns 2,192 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 890 shares during the last quarter. Montag A & Associates Inc. grew its holdings in shares of Two Harbors Investments by 29.2% during the first quarter. Montag A & Associates Inc. now owns 5,285 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 1,193 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Two Harbors Investments by 233.0% during the first quarter. Smartleaf Asset Management LLC now owns 6,506 shares of the real estate investment trust's stock worth $86,000 after purchasing an additional 4,552 shares during the last quarter. Wolverine Trading LLC grew its holdings in shares of Two Harbors Investments by 866.3% during the fourth quarter. Wolverine Trading LLC now owns 10,533 shares of the real estate investment trust's stock worth $122,000 after buying an additional 9,443 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Two Harbors Investments during the first quarter worth about $140,000. Hedge funds and other institutional investors own 64.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TWO. Maxim Group lowered their price target on Two Harbors Investments from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. UBS Group lowered their price target on Two Harbors Investments from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Royal Bank Of Canada lowered their price target on Two Harbors Investments from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th. JMP Securities reissued a "market perform" rating on shares of Two Harbors Investments in a report on Thursday, July 3rd. Finally, Citizens Jmp reissued a "market perform" rating on shares of Two Harbors Investments in a report on Thursday, July 3rd. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.43.

Two Harbors Investments Stock Performance

TWO traded down $0.09 during trading on Wednesday, reaching $10.17. The company's stock had a trading volume of 1,455,062 shares, compared to its average volume of 1,834,448. Two Harbors Investments Corp has a 52-week low of $9.49 and a 52-week high of $14.28. The company's fifty day moving average price is $10.09 and its 200-day moving average price is $11.29. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.86 and a beta of 1.28. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.07 and a current ratio of 1.07.

Two Harbors Investments (NYSE:TWO - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting analysts' consensus estimates of $0.28. Two Harbors Investments had a positive return on equity of 9.39% and a negative net margin of 67.06%.The company had revenue of ($18.12) million for the quarter, compared to analyst estimates of ($23.29) million. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Shareholders of record on Friday, October 3rd will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date of this dividend is Friday, October 3rd. Two Harbors Investments's payout ratio is currently -43.82%.

Insiders Place Their Bets

In other Two Harbors Investments news, CIO Nicholas Letica sold 8,654 shares of Two Harbors Investments stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $10.02, for a total value of $86,713.08. Following the sale, the executive owned 160,281 shares of the company's stock, valued at approximately $1,606,015.62. The trade was a 5.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

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.