Millennium Management LLC Sells 607,725 Shares of Two Harbors Investment Corp. (NYSE:TWO)

Millennium Management LLC decreased its stake in Two Harbors Investment Corp. (NYSE:TWO - Free Report) by 74.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,348 shares of the real estate investment trust's stock after selling 607,725 shares during the quarter. Millennium Management LLC owned approximately 0.21% of Two Harbors Investment worth $2,805,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TWO. PNC Financial Services Group Inc. grew its position in shares of Two Harbors Investment by 38.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,258 shares of the real estate investment trust's stock worth $115,000 after purchasing an additional 2,306 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Two Harbors Investment during the fourth quarter worth about $278,000. HighPoint Advisor Group LLC purchased a new stake in shares of Two Harbors Investment during the fourth quarter worth about $520,000. Howard Financial Services LTD. grew its position in shares of Two Harbors Investment by 2.3% during the first quarter. Howard Financial Services LTD. now owns 39,657 shares of the real estate investment trust's stock worth $525,000 after purchasing an additional 903 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Two Harbors Investment by 1.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,250,149 shares of the real estate investment trust's stock worth $69,512,000 after purchasing an additional 99,577 shares in the last quarter. Hedge funds and other institutional investors own 64.19% of the company's stock.

Two Harbors Investment Trading Up 0.8 %

Shares of NYSE:TWO traded up $0.11 during trading on Tuesday, hitting $12.95. The company had a trading volume of 1,429,703 shares, compared to its average volume of 1,082,467. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 31.57 and a beta of 1.85. Two Harbors Investment Corp. has a one year low of $9.83 and a one year high of $14.59. The company has a fifty day simple moving average of $13.59 and a two-hundred day simple moving average of $13.16. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.08 and a quick ratio of 1.08.

Two Harbors Investment (NYSE:TWO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.15. Two Harbors Investment had a return on equity of 3.64% and a net margin of 27.71%. The business had revenue of $115.95 million during the quarter. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, equities analysts forecast that Two Harbors Investment Corp. will post 0.46 earnings per share for the current year.

Two Harbors Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.90%. The ex-dividend date of this dividend is Tuesday, October 1st. Two Harbors Investment's dividend payout ratio is currently 439.02%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TWO. Janney Montgomery Scott began coverage on Two Harbors Investment in a research report on Friday, August 16th. They set a "buy" rating and a $15.00 target price for the company. JPMorgan Chase & Co. increased their price target on Two Harbors Investment from $12.50 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday, July 16th. Compass Point started coverage on Two Harbors Investment in a research note on Thursday, October 3rd. They set a "buy" rating and a $15.75 price target for the company. JMP Securities reissued a "market outperform" rating and set a $15.00 price target on shares of Two Harbors Investment in a research note on Wednesday, August 28th. Finally, StockNews.com raised Two Harbors Investment from a "sell" rating to a "hold" rating in a research note on Sunday, October 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.04.

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.