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:
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.
Closing share price
|FY, 2013||FY, 2014||FY, 2015||FY, 2016|
|$555.6 m||$577.2 m||$601.9 m||$633.5 m|
Revenue growth, %
|$659.5 m||$93.4 m||$643.8 m|
|$579 m||$167.1 m||$492.2 m||$353.3 m|
Operating cash flow
|$204.4 m||($19.7 m)||($268 m)|