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.

Type
Public
HQ
New York, US
Founded
2009
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
USD

Net income (Q1, 2017)

72 m

EBIT (Q1, 2017)

116.2 m

Market capitalization (17-Oct-2017)

3.5 b

Cash (31-Mar-2017)

405.1 m
Two Harbors Investment's current market capitalization is $3.5 b.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

555.6 m577.2 m601.9 m633.5 m

Revenue growth, %

4%4%5%

Cost of goods sold

100.4 m142.2 m221.9 m

Gross profit

455.2 m459.8 m411.6 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

254 m286.6 m200.8 m

Cost of goods sold

25 m24.7 m33.5 m35 m37.1 m41.4 m54 m60.4 m75.4 m

Gross profit

229.3 m251.6 m140.5 m

Gross profit Margin, %

90%88%70%
USDY, 2009Y, 2010Y, 2011Y, 2012Y, 2013Y, 2014Y, 2015FY, 2016

Cash

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
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

1.2 b1.2 b1 b933.6 m811.8 m754.8 m692.2 m688.4 m405.1 m

Total Assets

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

Dividends Payable

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

Long-term debt

1.5 b1.5 b2.6 b3 b3.7 b4 b4 b4 b3.6 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
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

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

Financial Leverage

6.7 x
Show all financial metrics

Two Harbors Investment Market Value History

Traffic Overview of Two Harbors Investment

Two Harbors Investment Company Life and Culture

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