Is Two Harbors Investment (TWO) overvalued or fairly valued?

MarketChacha shows Two Harbors Investment's valuation in context — a forward P/E of about 10.3, a price-to-book of about 1.1 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

What is the share price of Two Harbors Investment (TWO)?

Two Harbors Investment last traded at $12.18, as of 8/24/2026 — a delayed quote shown for education, not investment advice.

Two Harbors Investment

TWO · NYSE · Financials · United States

Snapshot

TickerTWO

ExchangeNYSE

SectorFinancials

IndustryREIT - Mortgage

CountryUnited States

Employees486

HeadquartersSaint Louis Park, United States

Websitewww.twoinv.com

Filings tracked25

About Two Harbors Investment

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.

Who owns it

Insiders1.0%
Institutions87.7%
Public & other11.2%

303 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.16.22%
Vanguard Portfolio Management LLC5.88%
Vanguard Capital Management LLC4.43%
Sand Grove Capital Management Llp4.28%
State Street Corporation3.97%
AQR Arbitrage LLC2.94%
Geode Capital Management, LLC2.60%
Bank of America Corporation1.92%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Latest ROE of -25.4% is on the low side — the business earns a modest return on shareholder capital.

Return on equity-25.4%

Latest ROE of -25.4% is on the low side — the business earns a modest return on shareholder capital.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $-5.5M · EPS 0.30

Est. earnings growth +16.1%

Next fiscal year

Rev $710,000 · EPS 1.18

Est. earnings growth -1.7%

Analyst consensus estimates — not the company's own guidance.

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P/E ROE ROCE Margins Market cap

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

ROE

-25.4%

EPS (FY2025)

-4.88

Net profit (FY2025)

$-454.3M

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Financials

Yearly

Period	Net profit	EPS	ROE
FY2025	$-454.3M	-4.88	-25.4%
FY2024	$298.2M	2.37	14.0%
FY2023	$-106.4M	-1.60	-4.8%

Quarterly

Period	Net profit	EPS
2026Q1	$32.3M	0.18
2025Q3	$-127.9M	-1.36
2025Q2	$-259.0M	-2.62
2025Q1	$-79.1M	-0.89
2024Q3	$-238.5M	-2.42
2024Q2	$56.3M	0.43
2024Q1	$203.6M	1.73
2023Q3	$306.2M	2.81
2023Q2	$197.4M	1.80
2023Q1	$-176.8M	-2.05

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Reg FD disclosure
SEC8/3/2026material
10-Q filing
SEC7/29/2026
8-K — Results of operations, Exhibits
SEC7/28/2026material
8-K — Shareholder vote results, Other events, Exhibits
SEC7/6/2026material
8-K — Other events, Exhibits
SEC6/23/2026material
8-K — Other events
SEC6/8/2026material
8-K — Other events, Exhibits
SEC5/28/2026material
8-K — Other events, Exhibits
SEC5/19/2026material
8-K — Other events, Exhibits
SEC5/15/2026material
8-K — Other events
SEC5/14/2026material
8-K — Material agreement, Other events, Exhibits
SEC5/8/2026material
8-K — Material agreement, Other events, Exhibits
SEC4/29/2026material
10-Q filing
SEC4/29/2026
8-K — Results of operations, Exhibits
SEC4/28/2026material
10-K/A filing
SEC4/27/2026
8-K — Material agreement, Termination of agreement, Reg FD disclosure, Exhibits
SEC3/27/2026material
8-K — Other events, Exhibits
SEC3/23/2026material
8-K — Other events, Exhibits
SEC3/19/2026material
8-K — Other events, Exhibits
SEC3/16/2026material
10-K filing
SEC2/17/2026
8-K — Results of operations, Exhibits
SEC2/2/2026material

2025

8-K — Other events, Exhibits
SEC12/17/2025material
8-K — Material agreement, Executive/director change, Exhibits
SEC12/17/2025material
10-Q filing
SEC10/28/2025
8-K — Results of operations, Exhibits
SEC10/27/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.