Phocas Financial Corp. Acquires New Stake in Two Harbors Investment Corp. (NYSE:TWO)

Phocas Financial Corp. acquired a new stake in Two Harbors Investment Corp. (NYSE:TWO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 252,555 shares of the real estate investment trust's stock, valued at approximately $3,505,000. Phocas Financial Corp. owned 0.24% of Two Harbors Investment at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TWO. Northwestern Mutual Wealth Management Co. raised its holdings in Two Harbors Investment by 1,680.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 2,100 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Two Harbors Investment during the 3rd quarter worth approximately $134,000. QRG Capital Management Inc. purchased a new stake in Two Harbors Investment in the second quarter valued at approximately $144,000. AQR Capital Management LLC acquired a new stake in shares of Two Harbors Investment during the second quarter worth about $147,000. Finally, Legacy Financial Strategies LLC acquired a new position in Two Harbors Investment during the 2nd quarter worth $170,000. 64.19% of the stock is currently owned by institutional investors and hedge funds.

Two Harbors Investment Stock Up 0.1 %

TWO traded up $0.01 during trading on Tuesday, hitting $11.59. The company had a trading volume of 440,800 shares, compared to its average volume of 1,109,405. The company has a market cap of $1.20 billion, a PE ratio of -2.40 and a beta of 1.87. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.07 and a quick ratio of 1.07. Two Harbors Investment Corp. has a 1-year low of $11.28 and a 1-year high of $14.59. The business has a 50-day moving average of $12.83 and a 200-day moving average of $13.12.

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

Two Harbors Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Shareholders of record on Tuesday, October 1st were paid a $0.45 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 15.53%. Two Harbors Investment's payout ratio is currently -37.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TWO shares. Janney Montgomery Scott assumed coverage on shares of Two Harbors Investment in a research report on Friday, August 16th. They issued a "buy" rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Two Harbors Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a research report on Wednesday, October 30th. 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 target price for the company. StockNews.com cut shares of Two Harbors Investment from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada dropped their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $14.32.

Two Harbors Investment Company 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.