Verition Fund Management LLC Makes New Investment in Two Harbors Investment Corp. (NYSE:TWO)

Verition Fund Management LLC purchased a new stake in shares of Two Harbors Investment Corp. (NYSE:TWO) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 15,668 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Other hedge funds also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in Two Harbors Investment by 48.2% in the second quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock valued at $11,324,000 after purchasing an additional 278,666 shares during the period. Phocas Financial Corp. bought a new stake in shares of Two Harbors Investment in the 3rd quarter valued at about $3,505,000. International Assets Investment Management LLC increased its stake in shares of Two Harbors Investment by 1,392.7% in the third quarter. International Assets Investment Management LLC now owns 193,478 shares of the real estate investment trust’s stock valued at $2,685,000 after buying an additional 180,516 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Two Harbors Investment by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,281,220 shares of the real estate investment trust’s stock worth $73,303,000 after acquiring an additional 84,038 shares during the last quarter. Finally, LifePro Asset Management lifted its stake in shares of Two Harbors Investment by 30.9% in the third quarter. LifePro Asset Management now owns 201,792 shares of the real estate investment trust’s stock worth $2,801,000 after acquiring an additional 47,689 shares during the period. Institutional investors and hedge funds own 64.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Two Harbors Investment to a “sell” rating in a report on Thursday. JMP Securities lowered their target price on shares of Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada cut their price target on shares of Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. dropped their price objective on Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Compass Point decreased their target price on Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.71.

Two Harbors Investment Stock Down 0.3 %

Shares of NYSE:TWO opened at $11.84 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.07 and a current ratio of 1.07. Two Harbors Investment Corp. has a 52-week low of $11.28 and a 52-week high of $14.59. The business’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $12.98. The firm has a market cap of $1.23 billion, a P/E ratio of -2.46 and a beta of 1.85.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). Two Harbors Investment had a negative net margin of 87.84% and a positive return on equity of 4.45%. The business had revenue of $112.64 million during the quarter. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, research analysts forecast that Two Harbors Investment Corp. will post 0.47 EPS for the current fiscal year.

Two Harbors Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 15.20%. The ex-dividend date was Tuesday, October 1st. Two Harbors Investment’s payout ratio is presently -37.34%.

About Two Harbors Investment

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.