YOLFTbeta
Two Harbors Investments Corp

Two Harbors Investments Corp

TWO · NYSE · Real Estate / REIT - Mortgage

12.18USD+0.13 (+1.08%)

Price History

Full chart

Market Stats

Previous Close12.05
Open12.18
Day Range12.17 – 12.19
52-Week Range8.28 – 13.37
Volume19.39M
Market Cap1.28B
P/E (TTM)0.00
Forward P/E10.78
EPS-0.72
Dividend Yield11.17%
Beta1.05
50-Day Avg12.14
200-Day Avg11.40

About

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, comprising non-agency securities and non-hedging transactions. It qualifies as a REIT for federal income tax purposes. The company was incorporated in 2009 and is headquartered in Saint Louis Park, Minnesota. As of August 25, 2026, Two Harbors Investment Corp. operates as a subsidiary of CrossCountry Mortgage, LLC.

Company Details

  • SectorReal Estate
  • IndustryREIT - Mortgage
  • CEOMr. William Ross Greenberg Ph.D.
  • Employees486
  • Headquarters1601 Utica Avenue South, Saint Louis Park, MN, United States, 55416, USA
  • Websitehttps://www.twoinv.com

Leadership

  • Mr. William Ross Greenberg Ph.D.President & CEO · b. 1969
  • Mr. William DellalVP & CFO · b. 1951
  • Mr. Nicholas LeticaVP & Chief Investment Officer · b. 1963
  • Ms. Rebecca B. Sandberg J.D.VP, Chief Legal Officer, Secretary & Chief Compliance Officer · b. 1972
  • Mr. Robert RushVP & Chief Risk Officer · b. 1968
  • Ms. Jillian HalmChief Accounting Officer · b. 1986
  • Mr. Chris HurleyChief Technology Officer
  • Ms. Alecia HansonVP & Chief Administrative Officer · b. 1981
  • Ms. Margaret Field KarrHead of Investor Relations
  • Ms. Sheila LichtyVP & Treasurer

Financials

Income Statement

Currency: USD2007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue1.47M4.44M3.20M53.40M264.91M538.88M500.38M591.62M732.02M498.75M838.62M185.73M427.56M-1.56B255.22M12.61M-556.75M845.84M605.61M
Growth (%)-+201.33%-27.92%+1567.82%+396.05%+103.42%-7.14%+18.24%+23.73%-31.87%+68.14%-77.85%+130.21%-465.34%+116.34%-95.06%-4516.55%+251.92%-28.40%
Cost of Revenue--325.65K2.99M14.24M3.46M48.82M76.34M81.12M73.95M76.73M611.08M57.05M66.35M63.80M94.12M115.18M-38.46M12.73M
Gross Profit1.47M4.44M2.88M50.41M250.67M535.41M451.56M515.28M650.90M424.80M761.89M185.73M370.50M-1.63B191.42M-81.51M-671.93M884.29M592.88M
Gross Margin100.00%100.00%89.83%94.40%94.62%99.36%90.24%87.10%88.92%85.17%90.85%100.00%86.66%104.25%75.00%-646.62%120.69%104.55%97.90%
Operating Expense141.00K1.06M11.94M15.34M119.24M279.26M-209.55M421.48M174.65M89.75M113.16M-331.48M60.10M37.44M0-664.36M-542.90M-66.78M177.07M
Operating Income1.33M3.38M-9.06M35.07M131.43M256.15M661.11M93.79M476.25M335.05M648.73M517.20M310.40M-1.67B191.42M582.85M-129.03M951.08M415.81M
Operating Margin90.44%76.15%-283.03%65.67%49.61%47.53%132.12%15.85%65.06%67.18%77.36%278.47%72.60%106.64%75.00%4623.57%23.18%112.44%68.66%
EBITDA1.33M3.15M-8.50M39.49M149.07M319.04M761.53M202.47M619.27M544.80M648.91M517.20M310.40M-1.67B191.42M582.85M-129.03M952.56M45.52M
EBITDA Margin90.44%70.84%-265.32%73.95%56.27%59.20%152.19%34.22%84.60%109.23%77.38%278.47%72.60%106.64%75.00%4623.57%23.18%112.62%7.52%
Net Income714.57K2.06M-8.84M35.76M127.43M291.91M579.04M167.14M492.21M353.28M348.57M-44.29M323.96M-1.63B187.23M220.24M-152.00M298.17M-454.30M
Net Income Margin48.47%46.35%-275.99%66.95%48.10%54.17%115.72%28.25%67.24%70.83%41.56%-23.85%75.77%104.36%73.36%1747.10%27.30%35.25%-75.02%
R&D--1.35M-000000.660.3600.161.931.3425.740.13--
R&D as % of Total Revenue--42.07%-0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-0.00%0.00%0.00%-0.00%--
Interest Expense00131.00K4.42M22.71M72.11M100.41M107.45M142.19M221.90M350.19M519.67M714.33M281.25M89.17M258.39M643.23M607.81M490.94M
Interest Expense % of Total Revenue0.00%0.00%4.09%8.28%8.57%13.38%20.07%18.16%19.42%44.49%41.76%279.80%167.07%-18.01%34.94%2049.78%-115.53%71.86%81.07%

Balance Sheet

Currency: USD2007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets260.30M262.10M538.37M1.80B8.10B16.81B17.17B21.02B14.58B20.11B24.79B30.13B35.92B19.52B12.11B13.47B13.14B12.20B10.86B
Total Liabilities78.20M77.93M416.64M1.41B6.83B13.36B13.32B16.96B11.00B16.71B21.22B25.88B30.95B16.43B9.37B11.28B10.94B10.08B9.07B
Total Equity182.10M184.16M121.72M382.45M1.27B3.45B3.85B4.07B3.58B3.40B3.57B4.25B4.97B3.09B2.74B2.18B2.20B2.12B1.79B
Cash461.48K2.78M26.11M163.90M360.02M301.98M1.03B1.01B737.83M406.88M419.16M409.76M558.14M1.38B1.15B683.48M729.73M504.61M842.32M
Total Debt--411.89M1.17B6.66B12.62B12.09B13.05B5.79B7.11B1.52B2.07B1.19B965.62M8.90B2.92B9.91B9.09B8.56B
Net Debt-461.48K-2.78M385.79M-163.90M-360.02M12.32B-385.76M2.70B5.05B6.70B1.10B1.05B631.32M-419.14M7.74B1.12B9.18B8.58B7.71B

Cash Flow

Currency: USD2007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow1.39M1.76M-16.24M33.11M151.64M163.13M-454.67M-764.15M-1.94B239.68M606.78M702.87M1.06B631.60M423.51M623.40M343.51M201.00M88.92M
Investing Cash Flow-259.82M554.15K-245.30M-861.38M-6.33B-6.91B512.76M-2.70B7.99B-5.82B-9.48B4.79B-6.08B14.90B6.31B-2.75B-195.78M895.28M911.61M
Financing Cash Flow258.89M-511284.87M966.07M6.38B7.21B146.29M3.44B-6.32B5.25B9.12B-5.45B5.54B-14.51B-7.30B1.17B-479.40M-1.07B-756.22M
Capital Expenditure00000293.75M499.02M65.70M123.67M317.71M484.26M976.39M613.66M622.41M742.15M629.81M312.64M114.12M103.99M
Free Cash Flow1.39M1.76M-16.24M33.11M151.64M163.13M-953.70M-829.85M-2.06B-78.03M122.52M-273.52M442.97M9.20M-318.64M-6.41M30.87M86.88M-15.07M
Dividends Paid--86.12M27.12M119.80M335.31M591.45M285.55M381.59M331.87M436.06M329.02M538.95M275.29M257.15M290.36M246.60M235.05M222.39M
FCF to OCF100.00%100.00%100.00%100.00%100.00%100.00%209.75%108.60%106.39%-32.56%20.19%-38.92%41.92%1.46%-75.24%-1.03%8.99%43.22%-16.95%
Dividend Paid to FCF---530.26%81.90%79.00%205.54%-62.02%-34.41%-18.52%-425.30%355.91%-120.29%121.67%2993.25%-80.70%-4531.21%798.78%270.54%-1475.82%

Earnings

Report DateMar 31, 2009Jun 30, 2009Sep 30, 2009Feb 25, 2010May 4, 2010Aug 4, 2010Nov 8, 2010Feb 8, 2011May 4, 2011Aug 3, 2011Nov 2, 2011Feb 7, 2012May 2, 2012Aug 1, 2012Nov 6, 2012Feb 6, 2013May 7, 2013Aug 6, 2013Nov 5, 2013Feb 5, 2014May 7, 2014Aug 6, 2014Nov 4, 2014Feb 4, 2015May 6, 2015Aug 4, 2015Nov 4, 2015Feb 3, 2016May 4, 2016Aug 3, 2016Nov 2, 2016Feb 6, 2017May 3, 2017Aug 7, 2017Nov 7, 2017Feb 6, 2018May 8, 2018Aug 7, 2018Nov 6, 2018Feb 6, 2019May 7, 2019Aug 6, 2019Nov 5, 2019Feb 5, 2020May 6, 2020Aug 5, 2020Nov 4, 2020Feb 9, 2021May 5, 2021Aug 4, 2021Nov 8, 2021Feb 9, 2022May 4, 2022Aug 3, 2022Nov 8, 2022Feb 8, 2023May 1, 2023Jul 31, 2023Oct 30, 2023Jan 29, 2024Apr 29, 2024Jul 30, 2024Oct 28, 2024Jan 29, 2025Apr 28, 2025Jul 28, 2025Oct 27, 2025Feb 2, 2026Apr 28, 2026Jul 28, 2026
EPS Estimate----2.882.322.592.833.092.943.193.312.983.222.932.942.532.451.911.781.982.021.991.891.952.041.901.861.681.791.831.921.992.132.171.861.891.881.911.891.911.691.581.451.090.520.860.920.960.770.790.840.800.770.790.510.710.580.480.460.440.390.360.340.400.360.360.470.270.16
EPS Actual-0.07-0.40-0.30-3.032.322.082.322.882.563.283.203.202.722.802.482.242.321.681.521.681.921.921.841.842.081.761.761.601.681.761.921.922.162.242.041.881.841.761.921.961.961.560.890.931.00-0.201.121.200.680.760.960.880.720.880.640.260.09-0.04-0.01-0.110.050.170.130.200.240.280.36-0.020.340.27
Surprise-----19.44%-10.34%-10.42%1.77%-17.15%11.56%0.31%-3.32%-8.72%-13.04%-15.36%-23.81%-8.30%-31.43%-20.42%-5.62%-3.03%-4.95%-7.54%-2.65%6.67%-13.73%-7.37%-13.98%0.00%-1.68%4.92%0.00%8.54%5.16%-5.99%1.08%-2.65%-6.38%0.52%3.70%2.62%-7.69%-43.67%-35.86%-8.26%-138.46%30.23%30.43%-29.17%-1.30%21.52%4.76%-10.00%14.29%-18.99%-49.02%-87.32%-106.90%-102.08%-123.91%-88.64%-56.41%-63.89%-41.18%-40.00%-22.22%0.00%-104.26%25.93%68.75%
Timing----After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap1.28B
Enterprise Value7.65B
Trailing P/E0.00
Forward P/E10.78
PEG Ratio2.76
Price / Sales2.00
Price / Book1.12
EPS-0.72
Book Value10.88
Revenue (TTM)640.21M
Gross Profit (TTM)628.01M
Profit Margin-3.39%
Operating Margin48.13%
Return on Equity-1.19%
Return on Assets-0.20%
Shares Outstanding105.13M
Shares Float96.21M
Beta1.05
Dividend Yield11.17%
Dividend Rate1.36
Payout Ratio143.16%

Analyst Ratings

Buy
Based on 10 analystsTarget 11.91
  • Strong Buy
    3
  • Buy
    2
  • Hold
    5

Ownership Breakdown

Institutions
87.72%
Insiders
1.04%
Retail / Other
11.24%

Top Institutional Holders

  • BlackRock Inc
    16.57M15.76%
  • Vanguard Portfolio Management, LLC
    6.12M5.82%
  • Balyasny Asset Management LLC
    4.93M4.69%
  • Vanguard Capital Management, LLC
    4.65M4.42%
  • State Street Corp
    3.93M3.74%
  • Sand Grove Capital Management LLP
    3.09M2.94%
  • Geode Capital Management, LLC
    2.48M2.36%
  • AllianceBernstein L.P.
    2.11M2.01%
  • Cnh Partners, LLC
    2.02M1.92%
  • Amvescap Plc.
    1.96M1.86%
  • MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
    1.84M1.75%
  • Millennium Management LLC
    1.56M1.49%
  • The Goldman Sachs Group Inc
    1.50M1.42%
  • UBS Group AG
    1.47M1.40%
  • Charles Schwab Investment Management Inc
    1.38M1.31%
  • Test Hedge Fund Mgmt
    1.37M1.31%
  • Northern Trust Corp
    1.22M1.16%
  • Morgan Stanley - Brokerage Accounts
    1.18M1.12%
  • Van Eck Associates Corporation
    1.10M1.05%

Top Fund Holders

  • Fidelity Small Cap Index
    1.16M1.10%

Dividends

20263×
0.34Jul 2, 20260.34Apr 2, 20260.34Jan 5, 2026
20254×
0.34Oct 3, 20250.39Jul 3, 20250.45Apr 4, 20250.45Jan 3, 2025
20244×
0.45Oct 1, 20240.45Jul 5, 20240.45Apr 3, 20240.45Jan 11, 2024
20234×
0.45Oct 2, 20230.45Jul 3, 20230.60Apr 3, 20230.60Jan 4, 2023
20223×
0.68Sep 30, 20220.68Jul 1, 20220.68Apr 1, 2022
20214×
0.68Dec 28, 20210.68Sep 30, 20210.68Jun 28, 20210.68Mar 26, 2021
20202×
0.68Dec 29, 20200.56Sep 30, 2020

Stock Splits

  • Nov 2, 20221:4
  • Nov 2, 20171221:2000
  • Mar 28, 2013537:500