Key Points
- Insider sale: Alecia Hanson sold 10,768 shares on December 19 at an average price of $11.41 for $122,862.88, reducing her position by 19.21% to 45,288 shares (about $516,736).
- Corporate catalysts and risks: Two Harbors declared a $0.34 quarterly dividend (annualized $1.36, ~11.9% yield; ex-dividend Jan 5) and is the target of a proposed acquisition by UWM (2.3328 UWM Class A shares per TWO share), but the deal has prompted multiple shareholder investigations and analyst downgrades that increase legal and execution risk.
Two Harbors Investments Corp (NYSE:TWO - Get Free Report) insider Alecia Hanson sold 10,768 shares of the stock in a transaction that occurred 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 transaction, the insider owned 45,288 shares in the company, valued at approximately $516,736.08. This trade represents a 19.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Two Harbors Investments Trading Up 0.7%
NYSE:TWO opened at $11.40 on Friday. The company has a market cap of $1.19 billion, a PE ratio of -4.56 and a beta of 1.20. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.13. The company has a 50 day simple moving average of $9.91 and a two-hundred day simple moving average of $10.09. Two Harbors Investments Corp has a 12 month low of $9.30 and a 12 month high of $14.28.
Two Harbors Investments (NYSE:TWO - Get Free Report) last released its quarterly earnings results on Monday, March 7th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of ($18.67) million for the quarter. Two Harbors Investments had a positive return on equity of 11.92% and a negative net margin of 44.10%. Research analysts forecast that Two Harbors Investments Corp will post 0.81 earnings per share for the current year.
Two Harbors Investments Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 29th. Shareholders of record on Monday, January 5th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Monday, January 5th. Two Harbors Investments's payout ratio is currently -54.40%.
Two Harbors Investments News Summary
Here are the key news stories impacting Two Harbors Investments this week:
Institutional Trading of Two Harbors Investments
Institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. lifted its stake in shares of Two Harbors Investments by 490.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 3,583,939 shares of the real estate investment trust's stock valued at $38,599,000 after buying an additional 2,977,196 shares in the last quarter. Algebris UK Ltd. bought a new stake in Two Harbors Investments during the third quarter valued at about $17,558,000. Millennium Management LLC lifted its position in shares of Two Harbors Investments by 45.3% in the third quarter. Millennium Management LLC now owns 4,535,534 shares of the real estate investment trust's stock valued at $44,766,000 after acquiring an additional 1,415,062 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Two Harbors Investments by 44.5% in the second quarter. Invesco Ltd. now owns 2,649,977 shares of the real estate investment trust's stock worth $28,540,000 after acquiring an additional 815,931 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Two Harbors Investments in the third quarter worth about $5,325,000. 64.19% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TWO. JPMorgan Chase & Co. boosted their target price on shares of Two Harbors Investments from $9.50 to $10.00 and gave the company a "neutral" rating in a research report on Monday, October 20th. Maxim Group cut shares of Two Harbors Investments from a "buy" rating to a "hold" rating in a research note on Thursday. Wall Street Zen raised Two Harbors Investments from a "sell" rating to a "hold" rating in a report on Saturday, November 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Two Harbors Investments in a research report on Monday. Finally, Zacks Research raised Two Harbors Investments from a "hold" rating to a "strong-buy" rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.96.
Read Our Latest Research Report on TWO
About Two Harbors Investments
(
Get Free Report)
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.
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