Two Harbors Investment Corp. (TWO)
Real Estate · NYQ
Fundamentals
Valuation and ratings
Two Harbors Investment Corp. trades at USD12.10, close to the USD10.76 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 34 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
TWO dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD1.02 | 3 |
| 2025 | USD1.63 | 4 |
| 2024 | USD1.80 | 4 |
| 2023 | USD2.10 | 4 |
| 2022 | USD2.04 | 3 |
| 2021 | USD2.72 | 4 |
| 2020 | USD2.00 | 4 |
| 2019 | USD6.68 | 4 |
| 2018 | USD7.52 | 5 |
| 2017 | USD6.93 | 4 |
| 2016 | USD6.09 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
TWO earnings and analyst estimates
Recommendation mix, 8 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
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.
TWO passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Two Harbors Investment Corp. (TWO) undervalued?
Against our discounted cash flow estimate of USD10.76, TWO at USD12.10 is 11% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Does Two Harbors Investment Corp. (TWO) pay a dividend?
Yes. Two Harbors Investment Corp. yields 11.25% at the current share price. It has paid USD1.36 per share over the trailing twelve months. It has paid a dividend in each of the last 17 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
When does TWO report earnings next?
Two Harbors Investment Corp. is scheduled to report on 28 Jul 2026. Companies move earnings dates, so read it as scheduled rather than certain.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.