The Manufacturers Life Insurance Company Reduces Stock Holdings in Two Harbors Investment Corp. (NYSE:TWO)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Two Harbors Investment Corp. (NYSE:TWO) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,350 shares of the real estate investment trust’s stock after selling 892 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Two Harbors Investment were worth $699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Phocas Financial Corp. purchased a new position in Two Harbors Investment during the 3rd quarter worth $3,505,000. Van ECK Associates Corp grew its stake in Two Harbors Investment by 48.2% during the 2nd quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock worth $11,324,000 after buying an additional 278,666 shares during the last quarter. TrueMark Investments LLC purchased a new position in Two Harbors Investment during the 2nd quarter worth $577,000. International Assets Investment Management LLC grew its stake in Two Harbors Investment by 1,392.7% during the 3rd quarter. International Assets Investment Management LLC now owns 193,478 shares of the real estate investment trust’s stock worth $2,685,000 after buying an additional 180,516 shares during the last quarter. Finally, LifePro Asset Management grew its stake in Two Harbors Investment by 30.9% during the 3rd quarter. LifePro Asset Management now owns 201,792 shares of the real estate investment trust’s stock worth $2,801,000 after buying an additional 47,689 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TWO. JPMorgan Chase & Co. dropped their price target on Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. JMP Securities dropped their price target on Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a research note on Thursday, October 17th. Compass Point dropped their price target on Two Harbors Investment from $15.75 to $14.75 and set a “buy” rating on the stock in a research note on Monday, November 25th. StockNews.com upgraded Two Harbors Investment to a “sell” rating in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on Two Harbors Investment from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.71.

Two Harbors Investment Stock Down 0.3 %

Shares of TWO opened at $11.84 on Friday. Two Harbors Investment Corp. has a 52 week low of $11.28 and a 52 week high of $14.59. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.46 and a beta of 1.85. The stock’s 50-day moving average price is $12.13 and its 200-day moving average price is $12.98.

Two Harbors Investment (NYSE:TWO) last issued its earnings results 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 company had revenue of $112.64 million during the quarter. During the same quarter last year, the firm earned ($0.01) EPS. On average, 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 announced a quarterly dividend, which was paid on Tuesday, October 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 15.20%. Two Harbors Investment’s payout ratio is -37.34%.

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.