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Two Harbors Investment Corporation

TWO

Two Harbors Investment Corp. is an internally managed real estate investment trust (REIT) that focuses on investing in, financing, and managing mortgage servicing rights (MSR) and Agency residential mortgage-backed securities (RMBS).

Market cap
$1.27B+22.7%
Revenue$389.3M-12.3%
Net income-$354.7M-2,385%
EPS (diluted)-$3.81-930%
Trailing twelve months · change vs. prior year

Earnings

Next report

Date not yet announced

Financials

Q1 2026

Income statement

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Revenue$88.7M-20.4%
Net income$32.3M+141%
EPS (diluted)$0.18+120%

Balance sheet

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Cash & equivalents$476.3M-17.0%
Total assets$10.5B-23.0%

Cash flow

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Operating cash flow$56.6M-49.4%

Valuation & ratios

Valuation

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Market cap$1.27B+22.7%
P/S3.3×+0.8×

Profitability

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Net margin-91.1%-94.6pp

Competitors

Profile

Two Harbors Investment Corp. is an internally managed real estate investment trust (REIT) that focuses on investing in, financing, and managing mortgage servicing rights (MSR) and Agency residential mortgage-backed securities (RMBS). The company operates an integrated mortgage platform that leverages core competencies in interest rate and prepayment risk analytics to deliver stable performance across market cycles. Through its subsidiary RoundPoint, it functions as a major servicer and originator of conventional loans, providing a natural hedge to its investment portfolio.

Competitive position

One of the largest servicers of conventional loans in the U.S. with a specialized focus on pairing MSR and Agency RMBS to manage duration risk.

GeographiesUnited States
Customer segmentsResidential Borrowers, Financial Institutions, Government Sponsored Enterprises
Business modelAsset Management, Service-based, Interest Income
SuppliersCapital Markets, Repurchase Agreement Counterparties, Warehouse Line Providers, GSE Approvals
CustomersResidential Mortgage Borrowers, Institutional RMBS Buyers, Third-party MSR Owners
Listed2007
Employees466.0
CEOWilliam Ross Greenberg
FilingsSEC EDGAR

Questions, answered.

What is Two Harbors Investment Corporation's market cap?
Two Harbors Investment Corporation (TWO) has a market capitalization of $1.3B and trades on NYSE.
What is Two Harbors Investment Corporation's revenue and profitability?
Two Harbors Investment Corporation generated $389.3M in trailing twelve-month revenue with a net loss of $354.7M, representing a net margin of -91.1%. These figures are based on the Q1 2026 filing.
Who are Two Harbors Investment Corporation's competitors?
Two Harbors Investment Corporation's key competitors include AGNC Investment Corp., Rithm Capital Corp., Annaly Capital Management, Inc., and others. These companies compete in similar markets and product categories.
Who does Two Harbors Investment Corporation partner with?
Two Harbors Investment Corporation's notable partners include UWM Holdings Corp., Fannie Mae, Freddie Mac, and others.
What subsidiaries does Two Harbors Investment Corporation have?
Two Harbors Investment Corporation's subsidiaries include RoundPoint Mortgage Servicing LLC, TH MSR Holdings LLC, MSR Issuer Trust.
Where is Two Harbors Investment Corporation headquartered?
Two Harbors Investment Corporation is headquartered in United States of America and employs approximately 466 people. It has been publicly traded since 2007.