Baird Financial Group Inc. raised its stake in Two Harbors Investment Corp (NYSE:TWO) by 25.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 234,647 shares of the real estate investment trust’s stock after purchasing an additional 48,135 shares during the period. Baird Financial Group Inc. owned 0.09% of Two Harbors Investment worth $3,506,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in TWO. Bank of Montreal Can acquired a new position in shares of Two Harbors Investment in the second quarter valued at $135,000. Financial Counselors Inc. acquired a new position in shares of Two Harbors Investment in the second quarter valued at $168,000. GW Henssler & Associates Ltd. acquired a new position in shares of Two Harbors Investment in the third quarter valued at $168,000. First Hawaiian Bank acquired a new position in shares of Two Harbors Investment in the third quarter valued at $185,000. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Two Harbors Investment in the third quarter valued at $192,000. Hedge funds and other institutional investors own 60.51% of the company’s stock.
TWO stock opened at $14.43 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.19. Two Harbors Investment Corp has a 52 week low of $13.85 and a 52 week high of $16.83. The stock has a market capitalization of $3.51 billion, a P/E ratio of 6.94 and a beta of 0.31.
Two Harbors Investment (NYSE:TWO) last released its quarterly earnings results on Tuesday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Two Harbors Investment had a net margin of 66.36% and a return on equity of 12.09%. The business had revenue of $84.30 million for the quarter, compared to the consensus estimate of $82.10 million. During the same period in the prior year, the company posted $0.52 earnings per share. On average, analysts predict that Two Harbors Investment Corp will post 1.96 EPS for the current year.
In other Two Harbors Investment news, CEO Thomas Siering purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of $14.41 per share, for a total transaction of $50,435.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brad Farrell sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $14.28, for a total transaction of $57,120.00. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.
Several equities analysts have commented on TWO shares. Zacks Investment Research upgraded shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. ValuEngine downgraded shares of Two Harbors Investment from a “sell” rating to a “strong sell” rating in a report on Friday, September 21st. Barclays set a $17.00 price objective on shares of Two Harbors Investment and gave the company a “buy” rating in a report on Friday, August 10th. JMP Securities decreased 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 note on Thursday, November 15th. Finally, Raymond James assumed coverage on shares of Two Harbors Investment in a research note on Thursday, October 11th. They issued an “outperform” rating and a $16.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $16.25.
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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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