Two Harbors Investment

Two Harbors Investment Corp. is a Maryland corporation focused on investing, financing and managing residential mortgage-backed securities (RMBS) and related investments.

Our objective is to provide attractive risk-adjusted returns to our stockholders over the long term, primarily through dividends and secondarily through capital appreciation. We selectively acquire and manage an investment portfolio of our target assets, which is constructed to generate attractive returns through market cycles. We focus on security selection and implement a relative value investment approach across various sectors within the mortgage market. Our target assets include the following:

  • Agency RMBS (which includes inverse interest-only Agency securities classified as Agency Derivatives for purposes of U.S. GAAP), meaning RMBS whose principal and interest payments are guaranteed by the Government National Mortgage Association (or Ginnie Mae), the Federal National Mortgage Association (or Fannie Mae), or the Federal Home Loan Mortgage Corporation (or Freddie Mac);
  • Non-Agency RMBS, meaning RMBS that are not issued or guaranteed by Ginnie Mae, Fannie Mae or Freddie Mac;
  • Prime nonconforming residential mortgage loans and mortgage servicing rights (MSR);
  • Commercial real estate; and
  • Other financial assets comprising approximately 5% to 10% of the portfolio.

We have elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes, which requires that we distribute at least 90% of our REIT income to our stockholders on an annual basis.

New York, US
Two Harbors Investment was founded in 2009 and is headquartered in New York, US

Two Harbors Investment Office Locations

Two Harbors Investment has an office in New York
New York, US (HQ)
590 Madison Ave

Two Harbors Investment Financials and Metrics

Two Harbors Investment Financials

Two Harbors Investment's revenue was reported to be $633.5 m in FY, 2016

Net income (Q2, 2017)

8.7 m

EBIT (Q2, 2017)

117.8 m

Market capitalization (13-Dec-2017)

3.1 b

Cash (30-Jun-2017)

651.7 m


5.7 b
Two Harbors Investment's current market capitalization is $3.1 b.
USDFY, 2013FY, 2014FY, 2015FY, 2016


555.6 m577.2 m601.9 m633.5 m

Revenue growth, %


Cost of goods sold

100.4 m142.2 m221.9 m

Gross profit

455.2 m459.8 m411.6 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


(120.8 m)(4.9 m)254 m286.6 m200.8 m

Cost of goods sold

24.9 m26.1 m25 m24.7 m33.5 m35 m37.1 m41.4 m54 m60.4 m75.4 m90.8 m

Gross profit

(145.7 m)(31 m)229.3 m251.6 m140.5 m

Gross profit Margin, %

USDY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016


26.1 m163.9 m360 m821.1 m1 b1 b737.8 m406.9 m

Accounts Receivable

50.3 m65.5 m50 m62.8 m

Total Assets

17.2 b21.1 b14.6 b20.1 b

Accounts Payable

20.3 m23.8 m375.4 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


723.2 m1.5 b1.2 b1.2 b1 b933.6 m811.8 m754.8 m692.2 m688.4 m405.1 m651.7 m

Total Assets

17.2 b17.4 b17.8 b19.2 b21.7 b18.4 b17.8 b16.7 b20.7 b21.8 b24.3 b23.8 b

Dividends Payable

102 m95.2 m95.2 m95.2 m95.3 m95.6 m95.5 m79.9 m80 m80 m87.2 m95 m

Long-term debt

464.5 m1.5 b1.5 b2.6 b3 b3.7 b4 b4 b4 b3.6 b3.2 b
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

1.7 k167.1 m492.2 m353.3 m

Accounts Receivable

15.6 m62.8 m

Cash From Operating Activities

(454.7 m)(764.1 m)(1.9 b)

Cash From Investing Activities

512.8 m(2.7 b)8 b
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(530)(80)39.7 m193.6 m94.8 m221.5 m(34.8 m)(88.9 m)(17 m)117.8 m72 m

Accounts Receivable

50.1 m52.6 m62.5 m57 m56.3 m54.5 m63.9 m67.1 m76.1 m

Accounts Payable

16.5 m14.9 m
Y, 2017


48 x

Financial Leverage

6.6 x
Show all financial metrics

Two Harbors Investment Market Value History

Two Harbors Investment's Web-traffic and Trends

Two Harbors Investment Company Life and Culture

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