Bridgewater Associates LP Buys Shares of 14,613 Two Harbors Investments Corp (TWO)
Bridgewater Associates LP bought a new position in shares of Two Harbors Investments Corp (NYSE:TWO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,613 shares of the real estate investment trust’s stock, valued at approximately $145,000.
Several other hedge funds have also modified their holdings of TWO. HighTower Advisors LLC purchased a new position in shares of Two Harbors Investments Corp during the 1st quarter worth approximately $106,000. Synovus Financial Corp acquired a new stake in shares of Two Harbors Investments Corp in the 2nd quarter worth approximately $113,000. Cadence Capital Management LLC acquired a new stake in shares of Two Harbors Investments Corp in the 1st quarter worth approximately $116,000. World Asset Management Inc grew its holdings in shares of Two Harbors Investments Corp by 0.7% in the 1st quarter. World Asset Management Inc now owns 12,407 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 83 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Two Harbors Investments Corp in the 1st quarter worth approximately $120,000. 70.21% of the stock is owned by institutional investors and hedge funds.
In other Two Harbors Investments Corp news, major shareholder Two Harbors Investment Corp. bought 14,772 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $19.10 per share, with a total value of $282,145.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Taylor bought 32,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $321,920.00. Following the purchase, the director now owns 51,865 shares of the company’s stock, valued at $521,761.90. The disclosure for this purchase can be found here. In the last three months, insiders purchased 80,212 shares of company stock worth $1,197,219. 1.16% of the stock is currently owned by insiders.
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TWO has been the topic of a number of analyst reports. Zacks Investment Research upgraded Two Harbors Investments Corp from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, July 20th. Maxim Group restated a “buy” rating and set a $10.25 price objective on shares of Two Harbors Investments Corp in a report on Wednesday, June 7th. Credit Suisse Group restated a “buy” rating and set a $10.00 price objective on shares of Two Harbors Investments Corp in a report on Thursday, August 10th. Finally, BidaskClub lowered Two Harbors Investments Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $9.95.
Two Harbors Investments Corp (NYSE:TWO) opened at 10.04 on Tuesday. The firm has a 50-day moving average price of $10.05 and a 200-day moving average price of $9.91. The firm has a market capitalization of $3.50 billion, a P/E ratio of 6.55 and a beta of 0.59. Two Harbors Investments Corp has a 52 week low of $7.91 and a 52 week high of $10.54.
Two Harbors Investments Corp (NYSE:TWO) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The business had revenue of $117.79 million for the quarter, compared to analysts’ expectations of $123.04 million. Two Harbors Investments Corp had a net margin of 72.15% and a return on equity of 10.26%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities analysts forecast that Two Harbors Investments Corp will post $1.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 10.36%. Two Harbors Investments Corp’s payout ratio is currently 72.73%.
Two Harbors Investments Corp Profile
Two Harbors Investment Corp. is a real estate investment trust. The Company is focused on investing in, financing and managing residential mortgage-backed securities (RMBS), mortgage servicing rights (MSR), commercial real estate and other financial assets (collectively known as target assets). Its investment objective is to provide attractive risk-adjusted total return to its stockholders over the long-term, primarily through dividends and secondarily through capital appreciation.
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