Van ECK Associates Corp Sells 114,102 Shares of Two Harbors Investment Corp. (NYSE:TWO)

Van ECK Associates Corp lowered its stake in shares of Two Harbors Investment Corp. (NYSE:TWO - Free Report) by 13.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 743,144 shares of the real estate investment trust's stock after selling 114,102 shares during the period. Van ECK Associates Corp owned 0.72% of Two Harbors Investment worth $9,542,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Two Harbors Investment by 1,680.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,225 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 2,100 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Two Harbors Investment during the second quarter worth approximately $144,000. AQR Capital Management LLC acquired a new stake in shares of Two Harbors Investment in the second quarter valued at approximately $147,000. Legacy Financial Strategies LLC bought a new position in shares of Two Harbors Investment during the 2nd quarter worth approximately $170,000. Finally, Teamwork Financial Advisors LLC bought a new position in Two Harbors Investment during the third quarter worth $173,000. Institutional investors and hedge funds own 64.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com cut Two Harbors Investment from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. JMP Securities dropped their price objective on shares of Two Harbors Investment from $15.00 to $14.50 and set a "market outperform" rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on shares of Two Harbors Investment from $13.50 to $11.50 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Compass Point started coverage on Two Harbors Investment in a research report on Thursday, October 3rd. They set a "buy" rating and a $15.75 price target on the stock. Finally, Janney Montgomery Scott began coverage on Two Harbors Investment in a research report on Friday, August 16th. They issued a "buy" rating and a $15.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.32.

Two Harbors Investment Stock Up 1.1 %

Two Harbors Investment stock traded up $0.13 during trading on Thursday, hitting $11.75. 539,028 shares of the company were exchanged, compared to its average volume of 1,113,093. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.80. The business's 50 day moving average is $13.20 and its 200 day moving average is $13.17. Two Harbors Investment Corp. has a 52 week low of $11.28 and a 52 week high of $14.59. The company has a market capitalization of $1.22 billion, a P/E ratio of -2.41 and a beta of 1.87.

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

Two Harbors Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 29th. Investors of record on Tuesday, October 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 15.32%. The ex-dividend date was Tuesday, October 1st. Two Harbors Investment's dividend payout ratio (DPR) is currently -37.34%.

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.