Two Harbors Investment Corp. Institutional Investor Increases Position by 38.7%

PNC Financial Services Group Inc. Increases Stake in Two Harbors Investment Corp.

In a recent filing with the Securities and Exchange Commission, PNC Financial Services Group Inc. revealed that it has increased its position in Two Harbors Investment Corp. (NYSE:TWO) by 38.7% in the 4th quarter. The institutional investor now owns 8,258 shares of the real estate investment trust’s stock, worth $115,000 after acquiring an additional 2,306 shares during the quarter.

Other hedge funds have also made changes to their positions in TWO, with Allspring Global Investments Holdings LLC, Massachusetts Financial Services Co. MA, Charles Schwab Investment Management Inc., Great Lakes Advisors LLC, and Norges Bank acquiring new positions or boosting their existing ones.

In insider transactions, Director Stephen G. Kasnet and CEO William Ross Greenberg have recently sold shares of the company’s stock, with Kasnet selling 12,790 shares and Greenberg selling 8,170 shares.

Despite these transactions, Two Harbors Investment Corp.’s stock has seen a 4.1% decrease, opening at $12.60 on Friday. The company has a one-year low of $9.83 and a one-year high of $14.59, with a market capitalization of $1.30 billion.

Additionally, Two Harbors Investment announced a quarterly dividend of $0.45 per share, to be paid on July 29th, with a dividend yield of 14.29%. Wall Street analysts have issued various ratings on TWO, with a consensus rating of “Hold” and a consensus target price of $14.57.

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights and agency residential mortgage-backed securities in the United States. The company’s target assets include agency RMBS collateralized by fixed-rate mortgage loans, adjustable-rate mortgage loans, hybrid mortgage loans, or derivatives.

Overall, Two Harbors Investment Corp. continues to attract attention from investors and analysts alike, with its recent developments and financial performance sparking interest in the market.