Two Harbors Investments (NYSE:TWO) Given New $12.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Two Harbors Investments’ price target to $12 from $11 while maintaining a “sector perform” rating, implying about 0.79% downside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $12.60; recent targets range from $12 to $13.
• Two Harbors reported quarterly EPS of $0.34, exceeding the $0.21 consensus estimate, while hedge funds and other institutions own approximately 64.19% of the company’s shares.

Two Harbors Investments (NYSE:TWO - Get Free Report) had its price objective lifted by Royal Bank Of Canada from $11.00 to $12.00 in a report released on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential downside of 0.79% from the company's previous close.

TWO has been the topic of a number of other reports. Zacks Research raised shares of Two Harbors Investments from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Two Harbors Investments from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Friday, July 17th. Weiss Ratings raised Two Harbors Investments from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, April 29th. Finally, Compass Point reissued a "neutral" rating and issued a $13.00 price objective on shares of Two Harbors Investments in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.60.

Two Harbors Investments Trading Down 0.0%

NYSE TWO traded down $0.01 on Monday, reaching $12.10. The company had a trading volume of 113,070 shares, compared to its average volume of 2,895,000. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -3.17 and a beta of 1.03. Two Harbors Investments has a fifty-two week low of $8.78 and a fifty-two week high of $14.17. The business has a 50 day moving average of $12.29 and a two-hundred day moving average of $11.68. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.06 and a quick ratio of 1.06.

Two Harbors Investments (NYSE:TWO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.13. The firm had revenue of $225.08 million for the quarter, compared to the consensus estimate of $2.33 million. Two Harbors Investments had a negative net margin of 87.72% and a positive return on equity of 13.62%. Analysts forecast that Two Harbors Investments will post 0.89 EPS for the current year.

Hedge Funds Weigh In On Two Harbors Investments

A number of hedge funds and other institutional investors have recently modified their holdings of TWO. SG Americas Securities LLC purchased a new stake in Two Harbors Investments during the 4th quarter valued at about $1,621,000. UBS Group AG increased its stake in Two Harbors Investments by 42.3% in the 4th quarter. UBS Group AG now owns 1,564,418 shares of the real estate investment trust's stock worth $16,426,000 after purchasing an additional 464,929 shares during the period. Credit Industriel ET Commercial purchased a new position in Two Harbors Investments in the 1st quarter worth approximately $1,062,000. Gabelli Funds LLC bought a new stake in Two Harbors Investments in the fourth quarter valued at approximately $525,000. Finally, ABC Arbitrage SA bought a new stake in Two Harbors Investments in the fourth quarter valued at approximately $1,033,000. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Two Harbors Investments Company Profile

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.

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