Two Harbors Investment Corp.

NYSE:TWO Stock Report

Market Cap: US$1.3b

Two Harbors Investment Future Growth

Future criteria checks 3/6

Two Harbors Investment's revenue is forecast to decline at 157.7% per annum while its annual earnings are expected to grow at 124.5% per year. EPS is expected to grow by 124.7% per annum.

Key information

124.5%

Earnings growth rate

124.74%

EPS growth rate

Mortgage REITs earnings growth25.2%
Revenue growth rate-157.7%
Future return on equityn/a
Analyst coverage

Low

Last updated08 Jul 2026

Recent future growth updates

Recent updates

Seeking Alpha • Oct 16

Why We View Two Harbors Investment Baby Bond As One Of The Safest In The Sector

Summary Two Harbors Investment baby bond offers an attractive yield of 8.88% with lower risk than common and preferred shares. TWO's strong capital buffer, high cash flow coverage, and 64% Agency MBS portfolio provide robust protection for TWOD investors. TWOD stands out in the mortgage REIT sector with one of the best equity-to-debt ratios and a stable dividend history. Compared to preferred stocks, TWOD delivers greater security and competitive yields, making it a compelling choice for income-focused investors. Read the full article on Seeking Alpha
Seeking Alpha • Oct 29

Two Harbors: Weak Earnings

Summary Two Harbors Investment Corp. is highly sensitive to interest rate changes, with Q3 earnings weak and dividend coverage increasingly opaque. The company's focus on mortgage servicing rights (MSRs) aims to reduce exposure to rate changes, but earnings indicate underlying issues. Q3 comprehensive income was $19.3 million, with a net loss of $250.2 million, with very little earnings available for distribution, raising concerns about dividend sustainability. Preferred shares are recommended over common stock due to better stability and less risk of dividend cuts. Read the full article on Seeking Alpha
Seeking Alpha • Jul 22

Two Harbors Preferreds Look Much Better Than The Common

Summary Two Harbors preferreds have significantly outperformed the common shares over the past five years. Structural aspects of mREITs like the requirement to pay out 90% of taxable income and the lack of real estate depreciation, favor preferreds over common shares. The conversion to a floating rate for Two Harbors preferreds offers the potential for significant capital appreciation. Read the full article on Seeking Alpha
Seeking Alpha • Jan 07

Two Harbors: A Mortgage REIT Recovery Play With A 13% Yield

Summary Two Harbors stock is a potentially attractive investment opportunity in the mortgage REIT sector. The Federal Reserve's decision to lower the federal fund rate in FY 2024 could benefit mortgage REITs by reducing interest expenses and reducing pressure on MBS values. As a result, Two Harbors may see improved portfolio performance and return to book value growth. Shares are trading at a 12% discount to book value and are cheaper than those of Annaly and AGNC. Read the full article on Seeking Alpha
Seeking Alpha • Sep 11

Two Harbors Investment: Mark-To-Market Books Can Be Deceiving

Summary Two Harbors Investment Corp. has experienced a decline in book value per share due to rising interest rates and mark-to-market adjustments. The future performance of Two Harbors will be heavily influenced by the trajectory of interest rates, but there are signs of inflation cooling which could reduce interest rate volatility. The new dividend level appears to be more sustainable and better covered by earnings. Read the full article on Seeking Alpha
Seeking Alpha • Jun 26

Two Harbors: One Yield Gets Fatter, The Other Is Cut

Summary Two Harbors' 25% dividend cut and declining book value render its common shares a risky investment. The preferred shares offer better value with a 10% yield on cost for 81 cents on the dollar. A possible normalization of macroeconomic conditions could lead to a recovery of the commons. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NYSE:TWO - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20271137N/AN/A4
12/31/2026-33181N/AN/A5
3/31/2026494-39736934N/A
12/31/2025370-50842489N/A
9/30/2025532-243120-49N/A
6/30/2025258-351205277N/A
3/31/2025342-34338322N/A
12/31/2024593250197201N/A
9/30/202489-458343332N/A
6/30/202451285459367N/A
3/31/2024615227250335N/A
12/31/2023237-153165344N/A
9/30/202334229275470N/A
6/30/2023339-1592717N/A
3/31/202311-274679675N/A
12/31/202276186255623N/A
9/30/2022392432-20431N/A
6/30/2022180222-593291N/A
3/31/2022436176-594436N/A
12/31/2021456128-287424N/A
9/30/2021533335-303633N/A
6/30/2021615466-162630N/A
3/31/2021690405-140468N/A
12/31/2020-532-1,7069632N/A
9/30/2020-580-1,78218584N/A
6/30/2020-214-1,679121682N/A
3/31/2020-246-1,596405991N/A
12/31/20191,200248N/A1,057N/A
9/30/2019664-441N/A1,033N/A
6/30/2019255-711N/A871N/A
3/31/2019209-476N/A666N/A
12/31/2018316-110N/A703N/A
9/30/2018850614N/A709N/A
6/30/2018822681N/A690N/A
3/31/2018749546N/A648N/A
12/31/2017519283N/A607N/A
9/30/2017554439N/A1,334N/A
6/30/2017578473N/A760N/A
3/31/2017572465N/A534N/A
12/31/2016551318N/A240N/A
9/30/2016572223N/A-973N/A
6/30/201645770N/A-1,130N/A
3/31/2016620308N/A-1,555N/A
12/31/2015718492N/A-1,937N/A
9/30/2015531245N/A-2,014N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TWO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.5%).

Earnings vs Market: TWO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: TWO is expected to become profitable in the next 3 years.

Revenue vs Market: TWO is forecast to have no revenue next year.

High Growth Revenue: TWO is forecast to have no revenue next year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if TWO's Return on Equity is forecast to be high in 3 years time

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/13 06:39
End of Day Share Price 2026/07/13 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Two Harbors Investment Corp. is covered by 24 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bruce HartingBarclays
Kenneth BruceBofA Global Research
Jessica Levi-RibnerB. Riley Securities, Inc.