Two Harbors Investment (NYSE:TWO) Price Target Cut to $12.00 by Analysts at Royal Bank of Canada

Two Harbors Investment (NYSE:TWO) had its price target decreased by equities research analysts at Royal Bank of Canada from $14.00 to $12.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target indicates a potential upside of 5.26% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Two Harbors Investment from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Compass Point assumed coverage on shares of Two Harbors Investment in a research report on Thursday, October 3rd. They set a “buy” rating and a $15.75 target price for the company. Janney Montgomery Scott initiated coverage on shares of Two Harbors Investment in a research report on Friday, August 16th. They set a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Two Harbors Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JMP Securities reduced their target price on shares of Two Harbors Investment from $15.00 to $14.50 and set a “market outperform” rating on the stock in a report on Thursday, October 17th. One equities 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.32.

Two Harbors Investment Price Performance

Shares of NYSE:TWO opened at $11.40 on Friday. The business has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $13.18. Two Harbors Investment has a 52 week low of $11.37 and a 52 week high of $14.59. The company has a market cap of $1.18 billion, a P/E ratio of -2.37 and a beta of 1.87. The company has a quick ratio of 1.08, a current ratio of 1.07 and a debt-to-equity ratio of 0.80.

Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings data 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 negative net margin of 87.84% and a positive return on equity of 4.45%. The company had revenue of $112.64 million for the quarter. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities research analysts forecast that Two Harbors Investment will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Two Harbors Investment

A number of institutional investors and hedge funds have recently modified their holdings of TWO. Vanguard Group Inc. increased its position in shares of Two Harbors Investment by 10.7% in the first quarter. Vanguard Group Inc. now owns 11,706,755 shares of the real estate investment trust’s stock worth $154,997,000 after acquiring an additional 1,135,012 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Two Harbors Investment by 1.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,281,220 shares of the real estate investment trust’s stock valued at $73,303,000 after acquiring an additional 84,038 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Two Harbors Investment by 155.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,317,877 shares of the real estate investment trust’s stock valued at $18,516,000 after purchasing an additional 801,837 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Two Harbors Investment by 48.2% in the second quarter. Van ECK Associates Corp now owns 857,246 shares of the real estate investment trust’s stock worth $11,324,000 after purchasing an additional 278,666 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Two Harbors Investment by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 310,806 shares of the real estate investment trust’s stock worth $4,106,000 after purchasing an additional 3,408 shares during the last quarter. 64.19% of the stock is owned by institutional investors and hedge funds.

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.