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

Millennium Management LLC lessened its holdings in shares of Two Harbors Investment Corp. (NYSE:TWO) by 74.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 212,348 shares of the real estate investment trust’s stock after selling 607,725 shares during the period. Millennium Management LLC’s holdings in Two Harbors Investment were worth $2,805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TWO. PNC Financial Services Group Inc. grew its holdings in 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 valued at $115,000 after purchasing an additional 2,306 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Two Harbors Investment during the second quarter valued at approximately $144,000. AQR Capital Management LLC acquired a new position in Two Harbors Investment during the second quarter valued at approximately $147,000. Legacy Financial Strategies LLC acquired a new position in Two Harbors Investment during the second quarter valued at approximately $170,000. Finally, SG Americas Securities LLC grew its holdings in Two Harbors Investment by 64.9% during the first quarter. SG Americas Securities LLC now owns 13,188 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 5,188 shares during the last quarter. Institutional investors own 64.19% of the company’s stock.

Two Harbors Investment Stock Up 0.9 %

Shares of NYSE TWO opened at $12.84 on Tuesday. The stock has a market cap of $1.33 billion, a PE ratio of 31.30 and a beta of 1.85. The business has a fifty day moving average of $13.60 and a two-hundred day moving average of $13.16. Two Harbors Investment Corp. has a 52-week low of $9.83 and a 52-week high of $14.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.08.

Two Harbors Investment (NYSE:TWO) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $115.95 million during the quarter. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, equities research analysts expect that Two Harbors Investment Corp. will post 0.46 earnings per share for the current fiscal year.

Two Harbors Investment Dividend Announcement

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 issued a $0.45 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.02%. Two Harbors Investment’s dividend payout ratio is 439.02%.

Wall Street Analyst Weigh In

TWO has been the topic of several analyst reports. Janney Montgomery Scott initiated coverage on Two Harbors Investment in a report on Friday, August 16th. They set a “buy” rating and a $15.00 price target on the stock. Compass Point assumed coverage on shares of Two Harbors Investment in a research note on Thursday, October 3rd. They issued a “buy” rating and a $15.75 price objective on the stock. StockNews.com upgraded shares of Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Sunday, October 6th. JMP Securities restated a “market outperform” rating and issued a $15.00 price objective on shares of Two Harbors Investment in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Two Harbors Investment from $12.50 to $13.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.