Pekin Hardy Strauss Inc. Acquires New Holdings in Two Harbors Investments Corp $TWO

Pekin Hardy Strauss Inc. bought a new position in Two Harbors Investments Corp (NYSE:TWO) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 539,526 shares of the real estate investment trust’s stock, valued at approximately $5,325,000. Pekin Hardy Strauss Inc. owned approximately 0.52% of Two Harbors Investments at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TWO. Balyasny Asset Management L.P. increased its holdings in shares of 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 worth $38,599,000 after purchasing an additional 2,977,196 shares during the period. Algebris UK Ltd. bought a new position in Two Harbors Investments in the 3rd quarter worth about $17,558,000. Invesco Ltd. raised its holdings in shares of Two Harbors Investments by 44.5% in the 2nd quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust’s stock valued at $28,540,000 after acquiring an additional 815,931 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Two Harbors Investments by 168.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 744,028 shares of the real estate investment trust’s stock valued at $8,013,000 after acquiring an additional 466,957 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Two Harbors Investments during the 2nd quarter valued at about $4,371,000. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Two Harbors Investments Price Performance

TWO stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.09 and a current ratio of 1.09. Two Harbors Investments Corp has a 52 week low of $9.30 and a 52 week high of $14.28. The firm’s fifty day moving average is $11.66 and its 200 day moving average is $10.50. The firm has a market cap of $1.17 billion, a P/E ratio of -2.28 and a beta of 1.19.

Two Harbors Investments (NYSE:TWO) last posted its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.04). Two Harbors Investments had a positive return on equity of 12.00% and a negative net margin of 109.90%.The business had revenue of $182.18 million during the quarter, compared to the consensus estimate of ($15.44) million. Research analysts predict that Two Harbors Investments Corp will post 0.81 earnings per share for the current year.

Two Harbors Investments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 29th. Shareholders of record on Monday, January 5th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend was Monday, January 5th. Two Harbors Investments’s payout ratio is -27.81%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TWO. JPMorgan Chase & Co. decreased their price objective on shares of Two Harbors Investments from $13.50 to $12.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Two Harbors Investments in a report on Monday, December 29th. Maxim Group cut shares of Two Harbors Investments from a “buy” rating to a “hold” rating in a research report on Thursday, December 18th. Wall Street Zen upgraded shares of Two Harbors Investments from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research downgraded Two Harbors Investments from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. Six research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $12.88.

Insider Transactions at Two Harbors Investments

In related news, insider Rebecca B. Sandberg sold 27,370 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $11.43, for a total transaction of $312,839.10. Following the completion of the sale, the insider directly owned 156,718 shares in the company, valued at $1,791,286.74. This represents a 14.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alecia Hanson sold 10,768 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $11.41, for a total transaction of $122,862.88. Following the sale, the insider directly owned 45,288 shares of the company’s stock, valued at $516,736.08. The trade was a 19.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 129,389 shares of company stock valued at $1,483,046. Insiders own 0.70% of the company’s stock.

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.