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    T

    Two Harbors Investments Corp (TWO)

    Official site

    REAL ESTATE • REIT - MORTGAGE • NYSE

    $12.18
    +0.00 (+0.00%)

    Market Cap: $1.28B

    Last updated: Aug 25, 2026 at 5:00 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    38%(15/39)
    Avg Surprise
    -25.04%
    Streak
    2 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$0.30
    Range$0.26 - $0.35
    5 analysts
    EPS RevisionsNo revisions (7d)No revisions (30d)
    EPS Estimate DriftChange to current
    90d ago$0.27+11.1%
    60d ago$0.32-3.7%
    30d ago$0.32-3.7%
    7d ago$0.300.0%
    Current$0.30
    Revenue Consensus
    $-5356170
    Range$-19404000 - $3M
    6 analysts
    Period ending Dec 31, 2026
    EPS Consensus$0.35
    Range$0.17 - $0.53
    6 analysts
    Revenue Consensus
    $-361660
    Range$-39298830 - $18M
    6 analysts
    Last 12 of 39 reported quarters and 2 upcoming estimates
    PeriodReportedEst.RangeSurpriseB/MAnalystsRevisionsYoY
    Dec 26EST
    		-$0.35$0.17 - $0.53--6--
    Sep 26EST
    		-$0.30$0.26 - $0.35--5
    No revisions (30d)
    		-
    Jun 26
    Reported Jul 27
    		$0.27$0.16$0.07 - $0.20+68.75%Beat5
    1
    1
    30d
    		-3.6%
    Mar 26
    Reported Apr 28
    		$0.34$0.27$0.21 - $0.32+25.93%Beat7
    0
    1
    30d
    		+41.7%
    Dec 25
    Reported Feb 2
    		$-0.02N/A--104.26%Miss8
    1
    0
    30d
    		-110.0%
    Sep 25
    Reported Oct 27
    		$0.36$0.36$0.29 - $0.48+0.00%Beat8
    0
    1
    30d
    		+176.9%
    Jun 25
    Reported Jul 28
    		$0.28$0.36$0.22 - $0.45-22.22%Miss9
    1
    2
    30d
    		+64.7%
    Mar 25
    Reported Apr 28
    		$0.24$0.40$0.28 - $0.46-40.00%Miss7
    No revisions (30d)
    		+380.0%
    Dec 24
    Reported Jan 29
    		$0.20$0.34$0.10 - $0.49-41.18%Miss9
    0
    1
    30d
    		+281.8%
    Sep 24
    Reported Oct 28
    		$0.13N/A--63.89%Miss8
    2
    0
    30d
    		+1400.0%
    Jun 24
    Reported Jul 30
    		$0.17N/A--56.41%Miss6
    1
    0
    30d
    		+525.0%
    Mar 24
    Reported Apr 29
    		$0.05N/A--88.64%Miss7
    1
    0
    30d
    		-44.4%
    Dec 23
    Reported Jan 29
    		$-0.11N/A--123.91%Miss8
    0
    1
    30d
    		-142.3%
    Sep 23
    Reported Oct 30
    		$-0.01N/A--102.08%Miss5
    No revisions (30d)
    		-101.6%

    Dividends

    Last ex-dividend: Jul 31, 2026

    Dividend Metrics

    Forward Yield9.38%
    Forward Annual Dividend$1.14
    Payout Ratio96.36%
    Pay MonthsJan, Apr, Jul

    Growth

    3Y CAGR-7.21%
    5Y CAGR-4.01%
    TWO dividend history and ex-dividend datesRun TWO in the free DRIP calculator

    Key Metrics

    Valuation
    P/E RatioN/AEV/EBITDAN/A
    Price/FCFN/AFCF YieldN/A
    Profitability
    Profit Margin-3.39%Operating Margin48.10%
    ROE-1.19%ROICN/A
    Financial Health
    Debt/EquityN/AInterest CoverageN/A
    Current RatioN/AQuick RatioN/A
    Trading Statistics
    Beta1.05Avg VolumeN/A
    52-Week High$13.3752-Week Low$8.28

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$12.06
    SMA 20$12.05
    SMA 50$11.98
    SMA 200$10.85
    EMA 10$12.08
    EMA 20$12.05
    EMA 50$11.95
    EMA 200$11.04

    MACD

    Line: 0.04Signal: 0.03Hist: 0.01

    ADX

    ADX: 26.6+DI: 15.8-DI: 9.7

    Aroon & PSAR

    Aroon Up96.0
    Aroon Down60.0
    PSAR$11.98

    Bollinger Bands

    Upper Band$12.17
    Lower Band$11.94
    %B Position189%(Upper)
    Band Width1.06

    RSI (14-Day)

    Neutral
    66.5

    Momentum Oscillators

    Stoch %K80.2
    Stoch %D60.3
    Williams %R-4.8
    ROC (10d)1.6%
    Momentum0.19
    CCI (20d)208.1
    MFI (14d)61.8

    Volatility Measures

    ATR (14d)$0.10(0.8%)
    StdDev (20d)0.06
    Hist Vol7.4%(Low)

    Volume Flow

    VWAP$12.18
    OBV74.9M
    AD Line-6.1B
    CMF (20d)-0.338

    Volume Metrics

    Avg Vol (20d)4.3M
    Vol RatioN/A
    VWMA (20d)$12.08

    Pivot Points

    R3$12.21
    R2$12.20
    R1$12.19
    Pivot Point$12.18
    S1$12.17
    S2$12.16
    S3$12.15

    Advanced Oscillators

    TSI15.25
    Ultimate Osc57.5
    KST6.25

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$212.61M$218.79M$179.37M$247.57M$119.38M$211.99M$219.45M$126.48M$208.81M$292.02M$24.56M$342.45M
    Cost of Revenue$92.77M$97.01M$3.38M$-4,365,000$-3,996,000$-2,778,000$-7,583,000$-13,159,000$-10,540,000$-7,176,000$4.58M$23.05M
    Gross Profit$119.84M$121.78M$175.99M$251.94M$123.38M$214.77M$227.03M$139.64M$219.35M$299.20M$19.97M$319.40M
    Operating Expenses$51.40M$49.45M$54.85M$86.47M$44.12M$161.68M$-218,680,000$233.65M$-5,395,000$-76,362,000$294.38M$-196,252,000
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$51.40M$49.45M$43.08M$21.31M$21.47M$26.59M$21.80M$20.18M$21.24M$26.53M$21.30M$8.62M
    Operating Income$68.44M$72.34M$121.14M$165.47M$79.26M$53.09M$445.71M$-94,012,000$224.74M$375.56M$-274,413,000$515.65M
    Interest Income$83.54M$88.65M$100.34M$93.61M$117.08M$111.38M$103.77M$112.64M$115.95M$117.78M$122.40M$123.61M
    Interest Expense$89.56M$95.16M$105.41M$117.12M$136.70M$131.71M$138.67M$154.93M$154.21M$160.00M$168.08M$173.09M
    Income Before Tax$68.20M$36.35M$17.29M$-126,717,000$-257,380,000$-78,624,000$307.60M$-248,943,000$70.54M$215.56M$-462,459,000$342.56M
    Income Tax Expense$5.95M$4.07M$5.58M$1.20M$1.66M$431,000$30.87M$-10,458,000$14.20M$11.97M$-29,259,000$36.37M
    Net Income$62.24M$32.28M$11.72M$-127,921,000$-259,041,000$-79,055,000$276.73M$-238,485,000$56.34M$203.59M$-433,200,000$306.19M
    EBITDA$68.44M$136.69M$122.70M$-9,597,000$-120,679,000$53.09M$446.27M$-94,012,000$224.74M$375.56M$-294,379,000$515.65M
    EBITN/A$131.51MN/AN/AN/AN/AN/AN/A$295.25M$421.18M$-229,343,000$680.50M
    * Some calculated fields are derived from available data when not provided by source

    Related GNG Research

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    News

    Two Harbors (NYSE: TWO) moves to end NYSE listing of common shares

    Two Harbors Investment Corp. (NYSE: TWO) is delisting its common stock from the New York Stock Exchange through a voluntary withdrawal process...

    Stock Titan•8/25/26•Somewhat-Bearish

    UWMC Alert: UWM (UWMC) Faces Securities Class Action After Investors Learn of Massive Over-Hedge Loss - HBSS

    UWM Holdings Corporation (UWMC) is facing a securities class action lawsuit after its share price plummeted 34% due to a massive $603 million hedge loss. This loss was linked to a failed acquisition bid for Two Harbors...

    TradingView•8/18/26•Somewhat-Bearish

    UWM Holdings Faces Securities Class Action

    UWM Holdings Corporation (NYSE: UWMC) is facing a federal securities class action lawsuit alleging that investors were misled about risks related to its mortgage servicing rights hedging strategy and its failed...

    STL.News•8/15/26•Neutral

    UWM's derivatives strategy questioned after $603.2M hedging loss

    United Wholesale Mortgage (UWM) is facing scrutiny over its derivatives strategy after reporting a $451.9 million net loss in Q2 2026...

    HousingWire•8/14/26•Bearish

    Two Harbors fires back at UWM, calling lawsuit frivolous

    Two Harbors Investment has responded to a lawsuit filed by UWM Holdings Corp., labeling it "frivolous" and asserting that its concerns about UWM have been vindicated. UWM had sued Two Harbors for over $500 million...

    National Mortgage News•8/12/26•Somewhat-Bearish

    TWO Valuation and Fair Value

    Forward P/E
    10.8x
    PEG
    2.8x
    See GNG's fair value

    TWO Profitability: Margins, ROIC and FCF

    Operating margin
    48.1%
    Net margin
    -3.4%
    ROE
    -1.2%

    TWO Competitors

    CompanyTicker
    UMH Properties IncUMH
    Alexanders IncALX
    Uniti Group IncUNIT
    Forestar Group IncFOR
    Empire State Realty OP LPOGCP
    Piedmont Office Realty Trust IncPDM
    Empire State Realty OP LP ESESBA
    Ladder Capital Corp Class ALADR

    Sector: Real Estate

    TWO Analyst Ratings

    Consensus
    Hold
    Analysts
    8
    Strong Buy
    0
    Buy
    0
    Hold
    7
    Sell
    0
    Strong Sell
    1

    TWO Bull Case vs Bear Case

    Bull case

    • TWO grew quarterly revenue 620.0% year over year.

    Bear case

    • TWO has a -3.4% net profit margin.
    • TWO beat EPS estimates in 25.0% of its last 8 reported quarters.

    TWO Earnings: Beat Rate and Next Report

    Beat rate
    2 of 8 quarters (25.0%)
    Average surprise
    -22.1%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $0.30
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    0 up, 0 down

    TWO Dividend

    Forward yield
    9.4%
    Payout ratio
    96.4%
    3Y DPS growth
    -7.2%
    5Y DPS growth
    -4.0%
    Pay months
    Jan, Apr, Jul
    TWO dividend history

    TWO Earnings Date

    TWO reports Feb 1, 2027, after the close. The date is estimated.

    TWO Earnings Call

    The latest TWO earnings call transcript on file is labeled 2026Q1.

    Read the 2026Q1 transcript

    TWO ETF Holders

    GNG tracks 6 ETFs that hold TWO. The largest weights:

    1. Hoya Capital High Dividend Yield ETF (RIET), 1.12% of the fund
    2. iShares Russell 2000 ETF (IWM), 0.04% of the fund
    3. Vanguard Russell 2000 Index Fund ETF Shares (VTWO), 0.04% of the fund
    4. Vanguard Extended Market Index Fund ETF Shares (VXF), 0.01% of the fund
    5. iShares Core S&P Total U.S. Stock Market ETF (ITOT), <0.01% of the fund
    Open the ETF Stock Exposure tool for TWO

    See insider activity

    Frequently Asked Questions About TWO

    When is TWO's next ex-dividend date?

    TWO has not declared its next regular ex-dividend date yet. Its last ex-dividend date was Jul 31, 2026 ($0.122 per share). Over the last 12 months, TWO went ex-dividend in Jan, Apr and Jul.

    When does TWO report earnings?

    Two Harbors Investments Corp (TWO) is expected to report earnings on Feb 1, 2027.

    What is TWO's current dividend yield?

    Two Harbors Investments Corp (TWO) has a forward dividend yield of 9.38%.

    Does TWO pay dividends?

    Yes, Two Harbors Investments Corp pays dividends with a forward dividend yield of 9.38%.

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