TWO HARBORS INVESTMENT CORP (TWO)

Financials · Mortgage REIT (mREIT) · NYSE

A mortgage REIT focused on investing in residential mortgage-backed securities and mortgage servicing rights to generate returns.

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What TWO HARBORS INVESTMENT CORP does

Two Harbors Investment Corp. is a mortgage real estate investment trust (mREIT) that invests in residential mortgage-backed securities (RMBS) and mortgage servicing rights (MSRs). The company generates income primarily through net interest income from its securities portfolio and net servicing income from its MSR assets. It manages risk through the use of derivative instruments and hedging strategies.

Themes: mortgage finance, interest rate sensitivity, mortgage servicing rights, fixed income investing

Fundamentals

Price$12.18 last close before the listing ended, 2026-08-25
Market cap$1.3B as of 2026-04-23 (share count; price 2026-08-25)
1-year return+24.2% 2025-08-25 close $9.81 → 2026-08-25 close $12.18
P/En/a negative earnings
ROE-25.4% FY2025, SEC XBRL
Debt / equity3.79 as of 2026-09-02
Revenue growth (YoY)+17.7% as of 2026-09-02
Beta0.62 as of 2026-09-02
Last reported earnings2026-07-28 SEC EDGAR Form 8-K (Item 2.02)

This listing has ended. The figures below are the last on record, from 2026-08-25, not a current quote.

Dividend: yield +19.4%; 1-year non-decreasing per-share dividend streak (SEC XBRL).

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How TWO compares in its sector

return on equitybottom 10% 559 covered Financials peers, as of 2026-09-02
indicated dividend yieldtop 10% 468 covered Financials peers, as of 2026-09-02

Position among covered Financials companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.

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Dividend coverage (FY2025)

Exceeded at least one reported measure. In FY2025, TWO's dividend exceeded at least one reported measure of what it earned or generated (operating-cash-flow payout 192%). A payout above 100% in one year is not necessarily unsustainable, but it is not fully covered by that measure.

Earnings payoutnot assessable earnings were not positive that year
Operating-cash-flow payout192% dividends / operating cash flow — capital spending was not reported, so this does not subtract it

Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.

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Analyst consensus

Mean price target$11.91 range $11.50 – $12.12; median $12.00

Analyst estimates, as of 2026-09-01. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.

Analyst EPS estimate for TWO

Consensus EPS estimate$0.3035 next reporting period, as of 2026-09-01
Readings revised upward0% of 3 comparable readings

The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.

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Key risks (from latest filing)

["Sensitivity to interest rate fluctuations and volatility in mortgage spreads, which can impact the value of MSRs and RMBS.","Reliance on repurchase agreements and other short-term financing, creating exposure to funding liquidity risks.","Prepayment risk and credit risk associated with the underlying mortgage assets."]

See TWO's biggest risks from its latest 10-Q →

Insider activity (SEC Form 4)

No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.

Last 180 days · read to 2026-10-040 buys · 2 sells ($145282) — 2 selling insiders

Most recent open-market transaction: 2026-05-15. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.

View full insider trading history → View SEC Form 3/4/5 filings

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Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.

Short interest (FINRA)

TWO had 2,920,018 shares of reported short interest as of the 2026-08-14 FINRA settlement date (delayed, bi-monthly; not real-time).

TWO had 2.78% of its shares outstanding sold short as of the 2026-08-14 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 1 days to cover at the same settlement.

Reported short interest (shares) 2,920,018
Short interest (% of shares outstanding) 2.78%
Prior settlement (shares) 4,343,914
Reported change -32.78%
Days to cover (reported) 1

Reported to FINRA as of the 2026-08-14 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.

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Competitors & peers

AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.

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Frequently asked questions

What does TWO HARBORS INVESTMENT CORP (TWO) do?

What sector is TWO HARBORS INVESTMENT CORP (TWO) in?

TWO HARBORS INVESTMENT CORP (TWO) is classified in the Financials sector. Its industry is Mortgage REIT (mREIT). It trades on NYSE.

Does TWO pay a dividend?

Yes — TWO HARBORS INVESTMENT CORP (TWO) pays a dividend, with an indicated yield of about 19.38% and 1-year non-decreasing per-share dividend streak (SEC EDGAR XBRL) (market data, as of 2026-09-02). Informational only — not financial advice.

Who are TWO HARBORS INVESTMENT CORP's (TWO) competitors?

Notable peers of TWO HARBORS INVESTMENT CORP (TWO) include Annaly Capital Management, AGNC Investment, Starwood Property Trust, Chimera Investment and PennyMac Mortgage Investment Trust. This peer set is informational only — not financial advice.

Where does stocks-llm's data on TWO come from?

Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. This listing has ended, so these are the last figures on record rather than current ones — informational only, not financial advice.

Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are the last daily closes recorded before this listing ended.

Last updated 2026-08-25.

Informational only — NOT financial advice. All figures are the last on record before this listing ended, from SEC EDGAR & market data, shown with their as-of date.