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Two Harbors Investment Corp.

(NYSE) TWO

Current Price$12.10
Market Cap$1.27BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2009)+68%
5 Year-5%
1 Year+35%
1 Month+1%
Two Harbors Investment Corp. last closing stock price
MetricPriceDate
Last closeUSD 12.102026-07-16
Two Harbors Investment Corp. stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week+0.25%USD 12.072026-07-09
1 month+1.49%USD 11.922026-06-16
3 month+11.89%USD 10.812026-04-17
Year to date+26.23%USD 9.592025-12-31
1 year+35.27%USD 8.942025-07-16
3 year+37.11%USD 8.832023-07-17
5 year-5.47%USD 12.802021-07-16
Since inception+67.98%USD 7.202009-10-29

Two Harbors Investment Corp. Financials at a Glance

Market Cap

$1.27BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$765.12M

Net Income (TTM)

-$342.96M

EPS (TTM)

-$3.80

P/E Ratio

-3.18

Dividend

$1.36

Beta (Volatility)

0.88 (Low)

Price

$12.10

Volume

774,458.961

Open

$12.09

Previous Close

$12.10

Daily Range

$12.09 - $12.11

52-Week Range

$8.78 - $14.17

Estimated Earnings Date

Jul 27, 2026

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About Two Harbors Investment Corp.

Two Harbors Investment Corp. invests in residential mortgage-backed securities (RMBS) and mortgage servicing rights. These financial products help manage and finance residential mortgages in the U.S. The company provides consistent returns by distributing 90% of taxable income to stockholders.

Products and Services

Residential Mortgage-Backed Securities (RMBS): Investments in securities backed by residential mortgages.

Non-agency Securities: Investments in mortgage securities not backed by government agencies.

Mortgage Servicing Rights: Rights to service and collect payments on mortgage loans.

Financial Assets: Various mortgage-related financial assets for portfolio diversification.

Growth and Expansion

Two Harbors was incorporated in 2009, focusing on mortgage-backed securities.

Strategic diversification into non-agency securities and mortgage servicing rights.

Consistent focus on U.S. residential mortgage market opportunities.

What Makes Two Harbors Special

Two Harbors stands out by distributing 90% of its taxable income to stockholders, ensuring consistent returns. Its diversified portfolio of mortgage-related assets helps manage risk and capitalize on market opportunities. The company's focus on residential mortgage-backed securities positions it uniquely in the real estate investment trust sector.

Five Things You Need to Know

Market cap of $1.25 billion as of 2023.

Stock price range: $10.16 - $14.28 in 2023.

Beta of 1.39, indicating market volatility.

Operates as a single reportable segment focusing on RMBS.

Headquartered in Minnetonka, Minnesota, with 477 employees.

Bottom Line

Two Harbors has evolved by diversifying its mortgage-related assets and maintaining consistent returns. Its adaptability and focus on the U.S. residential mortgage market make it a significant player in the REIT sector.

AI Generated • Apr 16, 2026

Industry

Mortgage Real Estate Investment Trusts (REITs)

Employees

486

CEO

William Greenberg, PhD

Headquarters

Minnetonka, MN 55305, US

TWO Financials

Key Financial Metrics (TTM)

Gross Margin

87.97%

Operating Margin

57.27%

Net Income Margin

-44.82%

Return on Equity

-19.11%

Return on Capital

4.02%

Return on Assets

-3.26%

Earnings Yield

-31.45%

Dividend Yield

11.25%

Payout Ratio

-61.98%

Stock Overview

Market Cap

$1.27BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

105.05M

Volume

774.46K

Avg. Volume

2.08M

Financials (TTM)

Gross Profit

$673.09M

Operating Income

$438.21M

EBITDA

$129.12M

Operating Cash Flow

$33.58M

Capital Expenditure

-$103.46M

Free Cash Flow

-$69.87M

Cash & ST Invst.

$476.40M

Total Debt

$8.29B

Two Harbors Investment Corp. Performance Analysis

Two Harbors Investment Corp. annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 12,606,000N/A
20232023-12-31USD 640,485,0004980.8%
20242024-12-31USD 845,837,00032.1%
20252025-12-31USD 605,609,000-28.4%
Two Harbors Investment Corp. sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-30-43.7%
Q32025-09-30107.4%
Q42025-12-31-27.5%
Q12026-03-3122.0%
Two Harbors Investment Corp. annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD 1.9412.5%
20232023-12-31USD -1.59N/A
20242024-12-31USD 2.37N/A
20252025-12-31USD -4.88N/A
Two Harbors Investment Corp. sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q22025-06-30-194.4%
Q32025-09-3048.1%
Q42025-12-3198.9%
Q12026-03-311276.5%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q1 2026YOY CHG

Revenue

$218.79M

+3.2%

Gross Profit

$121.78M

-43.3%

Gross Margin

55.66%

N/A

Market Cap

$1.27BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

$2.61M

N/A

Employees

486

N/A

Net Income

$32.28M

+140.8%

EBITDA

$136.70M

+157.5%

Quarterly Fundamentals

Name
Q1 2026YOY CHG

Total Cash

$476.40M

-17.0%

Total Debt

$8.29B

-24.3%

Accounts Receivable

$29.92M

-23.8%

Inventory

$0.00

N/A

Long Term Debt

$111.20M

-57.3%

Short Term Debt

$8.17B

-23.5%

Return on Assets

-3.26%

N/A

Return on Invested Capital

21.71%

N/A

Free Cash Flow

$55.60M

-49.6%

Operating Cash Flow

$56.58M

-49.4%

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Questions About TWO

What is the current price of Two Harbors Investment Corp.?

Two Harbors Investment Corp. is trading at $12.10 per share.

What is the 52-week range for Two Harbors Investment Corp.?

Over the past 52 weeks, Two Harbors Investment Corp. has traded between $8.78 and $14.17.

How much debt does Two Harbors Investment Corp. have?

As of the most recent reporting period, Two Harbors Investment Corp. reported total debt of $8.29B.

How much cash does Two Harbors Investment Corp. have on hand?

Two Harbors Investment Corp. reported $760.15M in cash and cash equivalents in its most recent financial results.

What is Two Harbors Investment Corp.’s dividend yield?

Two Harbors Investment Corp. currently has a dividend yield of 11.25%.

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