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Two Harbors Investment Corp.(NYSE) TWO

Market Cap$1.26BMarket 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)+67%
5 Year-6%
1 Year+36%
1 Month-1%
$12.05
+0.13%
+0.02Today
Two Harbors Investment Corp. last closing stock price
MetricPriceDate
Last closeUSD 12.032026-08-05
Two Harbors Investment Corp. stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-0.58%USD 12.102026-07-29
1 month-0.5%USD 12.092026-07-06
3 month-0.08%USD 12.042026-05-07
Year to date+25.5%USD 9.592025-12-31
1 year+35.97%USD 8.852025-08-05
3 year+33%USD 9.052023-08-04
5 year-6.17%USD 12.822021-08-06
Since inception+67.15%USD 7.202009-10-29

Two Harbors Investment Corp. Financials at a Glance

Market Cap

$1.26BMarket 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)

$858.34M

Net Income (TTM)

-$21.68M

EPS (TTM)

-$0.72

P/E Ratio

-16.75

Dividend

$1.36

Beta (Volatility)

0.86 (Low)

Price

$12.05

Volume

1,403,350.844

Open

$12.03

Previous Close

$12.03

Daily Range

$12.03 - $12.05

52-Week Range

$8.78 - $14.17

Estimated Earnings Date

Oct 26, 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

Saint Louis Park, MN 55416, US

TWO Financials

Key Financial Metrics (TTM)

Gross Margin

78.00%

Operating Margin

49.79%

Net Income Margin

-2.53%

Return on Equity

-1.23%

Return on Capital

4.02%

Return on Assets

-0.25%

Earnings Yield

-5.97%

Dividend Yield

11.31%

Payout Ratio

-9.28%

Stock Overview

Market Cap

$1.26BMarket 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

105.14M

Volume

1.40M

Avg. Volume

2.29M

Financials (TTM)

Gross Profit

$669.55M

Operating Income

$427.39M

EBITDA

$318.24M

Operating Cash Flow

$127.22M

Capital Expenditure

-$13.81M

Free Cash Flow

$113.40M

Cash & ST Invst.

$5.73B

Total Debt

$6.62B

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
Q32025-09-30107.4%
Q42025-12-31-27.5%
Q12026-03-3122.0%
Q22026-06-30-2.8%
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
Q32025-09-3048.1%
Q42025-12-3198.9%
Q12026-03-311276.5%
Q22026-06-30155.6%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$212.61M

+78.1%

Gross Profit

$119.84M

-2.9%

Gross Margin

56.37%

N/A

Market Cap

$1.26BMarket 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

$2.60M

N/A

Employees

486

N/A

Net Income

$62.25M

+124.0%

EBITDA

$68.44M

+156.7%

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$5.73B

+771.3%

Total Debt

$6.62B

-35.0%

Accounts Receivable

$23.14M

-37.1%

Inventory

$0.00

N/A

Long Term Debt

$111.35M

-70.1%

Short Term Debt

$6.51B

-33.6%

Return on Assets

-0.25%

N/A

Return on Invested Capital

13.41%

N/A

Free Cash Flow

$190.98M

+2378.1%

Operating Cash Flow

$192.74M

+94.5%

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Questions About TWO

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

Two Harbors Investment Corp. is trading at $12.05 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 $6.62B.

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

Two Harbors Investment Corp. reported $865.07M 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 11.31%.

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