Phocas Financial Corp. Purchases Shares of 252,555 Two Harbors Investment Corp. (NYSE:TWO)

Phocas Financial Corp. purchased a new position in Two Harbors Investment Corp. (NYSE:TWO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 252,555 shares of the real estate investment trust’s stock, valued at approximately $3,505,000.

Several other hedge funds have also recently modified their holdings of the stock. Quest Partners LLC acquired a new stake in shares of Two Harbors Investment during the third quarter worth $308,000. Simplify Asset Management Inc. purchased a new position in Two Harbors Investment during the 3rd quarter worth approximately $134,000. QRG Capital Management Inc. increased its stake in shares of Two Harbors Investment by 11.3% in the third quarter. QRG Capital Management Inc. now owns 12,100 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 1,230 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Two Harbors Investment by 1,392.7% during the third quarter. International Assets Investment Management LLC now owns 193,478 shares of the real estate investment trust’s stock worth $2,685,000 after purchasing an additional 180,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in 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 valued at $73,303,000 after purchasing an additional 84,038 shares during the period. Institutional investors and hedge funds own 64.19% of the company’s stock.

Two Harbors Investment Stock Performance

Shares of NYSE TWO opened at $11.59 on Tuesday. The company’s 50-day simple moving average is $12.88 and its 200-day simple moving average is $13.13. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. Two Harbors Investment Corp. has a 52-week low of $11.28 and a 52-week high of $14.59.

Two Harbors Investment (NYSE:TWO) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The business had revenue of $112.64 million for the quarter. Two Harbors Investment had a positive return on equity of 4.45% and a negative net margin of 87.84%. During the same period last year, the firm earned ($0.01) earnings per share. Sell-side analysts predict that Two Harbors Investment Corp. will post 0.47 EPS for the current year.

Two Harbors Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 15.54%. Two Harbors Investment’s dividend payout ratio is presently -37.34%.

Analyst Ratings Changes

TWO has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on Two Harbors Investment in a research report on Friday, August 16th. They set a “buy” rating and a $15.00 price target on the stock. Compass Point initiated coverage on Two Harbors Investment in a research report on Thursday, October 3rd. They set a “buy” rating and a $15.75 price target for the company. StockNews.com lowered Two Harbors Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut their target price on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Finally, JMP Securities lowered their price target on shares of Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Two Harbors Investment presently has a consensus rating of “Hold” and an average target price of $14.32.

Two Harbors Investment Profile

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.