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StockVS

NYSE · REIT - Mortgage · USD

Two Harbors Investment Corp. (TWO) Stock Analysis

Two Harbors Investment Corp. (TWO) is a REIT - Mortgage stock listed on NYSE and quoted in US Dollar.

TWO

$12.18

+$0.13 (+1.08%)

Last trade August 24, 2026

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Price History

Hover for the daily close. The dotted line marks the period open.

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TWO Key Statistics

As of Aug 24, 2026
Trading
Open
$12.18
Previous Close
$12.05
Day's Range
12.17–12.19
52-Week Range
8.78–14.17
Volume
19.38M
BetaHow much the share price moves relative to the wider market. 1.0 moves in line with it; above 1.0 swings more, below 1.0 less.
1.05
Valuation
Market Cap
$1.28B
P/E Ratio
unprofitable
Forward P/EShare price divided by forecast earnings for the year ahead, rather than the year just past.
10.34
PEG RatioThe P/E ratio divided by the expected earnings growth rate. It puts a high P/E in the context of how fast profits are growing.
2.76
P/S ratioMarket value divided by annual revenue. Useful for companies that are not yet profitable, where a P/E cannot be calculated.
2.00
EPS (ttm)Profit attributable to each share over the last twelve months.
−0.72
Financials (FY)
Revenue (FY)
$115.06M−77.47%
Net Income (FY)
−$454.30M−252.36%
Profit marginThe share of revenue left as profit after all costs and taxes.
−3.39%
Shares OutstandingThe total number of shares held by all investors. Market value is this figure multiplied by the share price.
105.13M
1-Year Return
+40.61%
Dividend and dates
Dividend
$1.36+11.17%
Ex-Dividend Date
August 24, 2026
Earnings Date
October 26, 2026estimated
Avg Volume
2.69M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

TWO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

YearReturn
2026 (partial year)+27.06%
2025+2.52%
2024−2.73%
2023+2.31%
2022−23.25%
2021+0.03%
2020−52.19%
2019+28.73%
2018−10.33%
2017+26.56%
2016 (partial year)+3.23%

As of August 24, 2026.

TWO Revenue and Earnings by Fiscal Year

FY ends December
Fiscal yearRevenueNet incomeNet margin
2025$115.06M−$454.30M−394.8%
2024$510.75M$298.17M58.4%
2023$31.79M−$106.37M−334.7%
2022$407.18M$220.24M54.1%
Fiscal yearRevenueGross profitOperating incomeNet incomeNet margin
2025$115.06M——−$454.30M−394.8%
2024$510.75M——$298.17M58.4%
2023$31.79M——−$106.37M−334.7%
2022$407.18M——$220.24M54.1%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

TWO Dividend History

$1.63−9.4% vs 2024

Dividends per share, 2025 · 4 payments

YearDividends per sharePaymentsChange
2026*$1.023—
2025$1.634−9.4%
2024$1.804−14.3%
2023$2.104+2.9%
YearDividends per sharePaymentsChange
2026 (partial year)$1.023—
2025$1.634−9.4%
2024$1.804−14.3%
2023$2.104+2.9%
2022$2.043−25.0%
2021$2.724+36.0%
2020$2.004−70.1%
2019$6.684−11.2%
2018$7.525+8.6%
2017$6.934+124.9%
2016$3.082—

Most recent payment: $0.34 per share, ex-dividend July 2, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

TWO Valuation vs REIT - Mortgage Median

Median of 49 stocks
MetricTWOREIT - Mortgage medianvs median
P/S ratio2.004.5556% below
Profit margin−3.39%48.95%52.3 pts below

Medians across 49 REIT - Mortgage stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

The market values Two Harbors Investment Corp. (TWO) at $1.28B. It is classified in the REIT - Mortgage industry, within the Real Estate sector. Headcount on file is 486.

Over the past 52 weeks the price has ranged from $8.78 to $14.17. TWO last closed at $12.18 on August 24, 2026. That is +$0.13 (+1.08%) against the previous close. The latest close sits 38.72% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of $115.06M. Against the prior fiscal year total of $510.75M, that is a change of −77.47%. The same year closed with a net loss of $454.30M. The reported profit margin is −3.39%. That is 52.3 percentage points below the REIT - Mortgage median of 48.95%. Trailing earnings per share are −0.72.

Across the 4 fiscal years on file, revenue moves from $407.18M in 2022 to $115.06M in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. The forward P/E on file is 10.34. The PEG ratio, which sets the P/E against expected earnings growth, reads 2.76. The price-to-sales ratio is 2. On price-to-sales that is 56.06% below the REIT - Mortgage median of 4.55. 49 REIT - Mortgage companies report these metrics, and the medians quoted come from that group.

The trailing one-year price return is +40.61%. Measured over 10 years, that is −3.32% a year compounded. Beta against the wider market is reported at 1.05. Daily returns over the trailing 10 years annualize to a volatility of 47.97%.

Growth & Income

Shareholders receive a dividend, yielding 11.17% on the latest price. That is 2 percentage points below the REIT - Mortgage median yield of 13.14%. The indicated annual rate is $1.36 a share. The ex-dividend date on file is August 24, 2026. Dividends are recorded for 11 calendar years; 2026 shows 3 payments totalling $1.02 a share. The year before, 2025, totalled $1.63 a share.

2026 is still running; the price is +27.06% year to date. Across the complete calendar years on file, 2019 returned +28.73% and 2020 returned −52.19%. Of the 9 complete calendar years on file, 5 finished higher.

Peer Comparison

Two Harbors Investment Corp. (TWO) operates in the REIT - Mortgage industry. Here is how it compares to its closest peers by market capitalization:

Company Ticker Market Cap P/E Ratio
Two Harbors Investment Corp. TWO $1.28B —
Annaly Capital Management, Inc. NLY $17.19B 5.5
AGNC Investment Corp. AGNC $12.63B 5.3
Starwood Property Trust, Inc. STWD $6.11B 26.8

The REIT - Mortgage industry average P/E ratio is 8.7x. Two Harbors Investment Corp. has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of August 24, 2026.

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 RITM

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 DX

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$3.20B

 BXMT

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About Two Harbors Investment Corp.

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.

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