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Two Harbors Investment Corp.
TWO
NYSE·Real Estate·REIT - Mortgage·Mkt cap $1.3B
$12.07
▼ -2.27%
View full research view
Our plain-language verdict, the thesis, risk factors, and what is changing about the business.
View research view52-Week Range
$8.78 - $14.17
P/E
Fwd P/E
Beta
Div Yield
Avg Vol
Shares Out
Mkt Cap
Price action
Price chart
Up 12.1% over the trailing year
Total returns
Price performance
Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.
Why we rate it this way
The thesis at a glance
Bull and bear case · plain-English context across the five lenses we evaluate.
Bull Case
4 reasons
- REIT tax structure enabling high dividend distributions to shareholders
- Specialized expertise in mortgage-backed securities analysis and portfolio management
- Access to diversified mortgage asset classes including agency and non-agency securities
- Established market position with institutional relationships and capital access
Bear Case
2 risks
- Average volatility.
- Growth premium of 1.4x vs Mortgage REITs peers. Reasonable for this growth rate.
Growth
Turning profitable
Interest rate environment changes affecting mortgage yields and prepayment speeds
Value
Growth premium of 1.4x vs Mortgage REITs peers. Reasonable for this growth rate.
Momentum
Strong
+11.1% over 3m
Quality
Excellent
Emerging growth company (-18% revenue growth). Early stage with higher risk.
Dividend
High yield
11.42% yield
Smart-money signal
Who's buying TWO right now
Insider Form 4s, 13F institutional filings, and Congressional disclosures - at a glance.
Earnings track record
Recent earnings results
AI-summarized recap of last quarter, plus the surprise on every print.
Next: Apr 27, 2026
APR 28, 2026
Reported EPS of $0.34 vs $0.21 consensus (+61.9% surprise). Revenue of $-6.5M vs $2.3M expected (-379.0%).
EPS surprise · last 4Q
1 of 1 beats
Q2 26
+61.9%
Next: Apr 27, 2026
Revenue trend · last 8Q
—
—
+183%
-112%
-113%
+218%
-49%
+3%
Q2 24
Q3 24
Q4 24
Q1 25
Q2 25
Q3 25
Q4 25
Q1 26
$109.7M
-$210.4M
$348.5M
$212.0M
$119.4M
$247.6M
$179.4M
$218.8M
Margins · last 8Q
Gross
—
Operating
—
Profit
14.8%
Wall Street consensus
2 analysts · 0% Buy
Live ratings and price targets aggregated across covering analysts.
Buy
0%
Hold
50%
Sell
50%
Median Price Target
—
Latest: Compass Point · Jun 9, 2026