Van ECK Associates Corp Sells 121,880 Shares of Two Harbors Investments Corp $TWO

Key Points

• Van ECK Associates reduced its Two Harbors Investments stake by 11.1%, selling 121,880 shares during the second quarter while retaining 976,899 shares valued at approximately $12.1 million.
• Institutional ownership remains significant at 64.19%, with BlackRock establishing a $211.7 million position and Balyasny Asset Management increasing its stake by nearly 491%.
• Two Harbors reported quarterly EPS of $0.28, in line with estimates, and declared a $0.34 quarterly dividend, equivalent to a 11.2% annualized yield. Analysts maintain an overall “Hold” rating with a consensus price target of $12.75.

Van ECK Associates Corp lessened its holdings in shares of Two Harbors Investments Corp (NYSE:TWO - Free Report) by 11.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 976,899 shares of the real estate investment trust's stock after selling 121,880 shares during the period. Van ECK Associates Corp owned 0.93% of Two Harbors Investments worth $12,123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TWO. BlackRock Inc. bought a new position in shares of Two Harbors Investments in the 2nd quarter worth $211,685,000. Millennium Management LLC increased its holdings in Two Harbors Investments by 45.3% in the third quarter. Millennium Management LLC now owns 4,535,534 shares of the real estate investment trust's stock valued at $44,766,000 after purchasing an additional 1,415,062 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Two Harbors Investments by 490.7% in the second quarter. Balyasny Asset Management L.P. now owns 3,583,939 shares of the real estate investment trust's stock valued at $38,599,000 after buying an additional 2,977,196 shares during the period. Invesco Ltd. lifted its stake in Two Harbors Investments by 44.5% in the second quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust's stock valued at $28,540,000 after buying an additional 815,931 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Two Harbors Investments by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,485,048 shares of the real estate investment trust's stock worth $26,098,000 after buying an additional 21,212 shares during the last quarter. Institutional investors own 64.19% of the company's stock.

Two Harbors Investments Price Performance

Shares of Two Harbors Investments stock opened at $12.18 on Tuesday. Two Harbors Investments Corp has a 1 year low of $11.98 and a 1 year high of $12.19. The business has a 50-day moving average of $12.13 and a two-hundred day moving average of $11.62. The company has a market capitalization of $1.28 billion, a P/E ratio of -16.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.08 and a quick ratio of 1.08.

Two Harbors Investments (NYSE:TWO - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Two Harbors Investments had a positive return on equity of 12.79% and a negative net margin of 6.09%.The business had revenue of $247.57 million for the quarter, compared to analysts' expectations of $9.45 million. As a group, equities analysts predict that Two Harbors Investments Corp will post 0.89 EPS for the current year.

Two Harbors Investments Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, July 2nd were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 11.2%. Two Harbors Investments's payout ratio is presently -64.86%.

Wall Street Analyst Weigh In

TWO has been the subject of a number of recent analyst reports. Compass Point reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Two Harbors Investments in a research note on Tuesday, June 9th. BTIG Research reissued a "neutral" rating on shares of Two Harbors Investments in a research note on Wednesday, August 26th. JPMorgan Chase & Co. boosted their price objective on shares of Two Harbors Investments from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Friday, July 17th. Royal Bank Of Canada upped their target price on shares of Two Harbors Investments from $11.00 to $12.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Two Harbors Investments from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.75.

Two Harbors Investments Company Profile

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.

Want to see what other hedge funds are holding TWO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Two Harbors Investments Corp (NYSE:TWO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.