Providence Capital Advisors LLC raised its position in Two Harbors Investment Corp (NYSE:TWO) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 86,907 shares of the real estate investment trust’s stock after purchasing an additional 3,212 shares during the period. Providence Capital Advisors LLC’s holdings in Two Harbors Investment were worth $1,101,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of TWO. Sandy Spring Bank acquired a new position in shares of Two Harbors Investment in the 2nd quarter valued at about $32,000. Icon Wealth Partners LLC acquired a new position in Two Harbors Investment in the first quarter valued at approximately $41,000. Advisory Services Network LLC boosted its holdings in shares of Two Harbors Investment by 1,900.0% during the 1st quarter. Advisory Services Network LLC now owns 4,000 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 3,800 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Two Harbors Investment by 31.8% during the 1st quarter. Signaturefd LLC now owns 5,335 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 1,288 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Two Harbors Investment by 300.7% during the 2nd quarter. CENTRAL TRUST Co now owns 6,663 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 63.19% of the company’s stock.
Two Harbors Investment stock traded up $0.14 during mid-day trading on Wednesday, reaching $13.45. The stock had a trading volume of 104,483 shares, compared to its average volume of 1,861,831. The firm has a market capitalization of $3.64 billion, a PE ratio of 6.81 and a beta of 0.64. Two Harbors Investment Corp has a fifty-two week low of $12.06 and a fifty-two week high of $15.83. The stock’s 50-day simple moving average is $13.17 and its 200-day simple moving average is $13.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.12 and a current ratio of 1.12.
Two Harbors Investment (NYSE:TWO) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Two Harbors Investment had a positive return on equity of 13.49% and a negative net margin of 57.33%. The firm had revenue of $68.59 million for the quarter, compared to analyst estimates of $63.20 million. During the same period in the previous year, the company earned $0.49 earnings per share. On average, research analysts forecast that Two Harbors Investment Corp will post 1.64 earnings per share for the current fiscal year.
Several research firms have recently weighed in on TWO. Raymond James set a $15.00 price objective on shares of Two Harbors Investment and gave the company a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on shares of Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. ValuEngine upgraded shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Nomura set a $14.00 price target on shares of Two Harbors Investment and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of Two Harbors Investment in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Two Harbors Investment currently has a consensus rating of “Hold” and a consensus target price of $14.81.
In other Two Harbors Investment news, CEO Thomas Siering bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $13.11 per share, with a total value of $65,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Hammond bought 5,600 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $13.30 per share, for a total transaction of $74,480.00. Following the acquisition, the director now directly owns 47,262 shares in the company, valued at $628,584.60. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Two Harbors Investment Company 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, and hybrid adjustable-rate mortgage (ARMs); 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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