Two Harbors Investment Corp. (NYSE:TWO-PB)

Two Harbors Investment Corp. TWO-PB

Real Estate - REIT - Mortgage - NYSE - US

Watchlist

$ 24.42

0.411 %

$ 1.21 B

Market Cap

44.32

P/E

1. INTRINSIC VALUE

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions. The company qualifies as a REIT for federal income tax purposes. As a REIT, the company must distribute at least 90% of annual taxable income to its stockholders.[ Read More ]

The intrinsic value of one TWO-PB stock under the base case scenario is HIDDEN Compared to the current market price of 24.4 USD, Two Harbors Investment Corp. is HIDDEN

TWO-PB Intrinsic Value
HIDDEN

SHOW

2. FUNDAMENTAL ANALYSIS

Price Chart TWO-PB

FINANCIALS

Annual
Quarterly

257 M REVENUE

Growth Rates

1Year -36.86%

3Years 29.36%

5Years 6.72%

7Years -8.66%

10Years -9.89%

109 M OPERATING INCOME

Growth Rates

1Year -80.21%

3Years 27.35%

5Years -26.80%

7Years -21.42%

10Years -17.71%

-106 M NET INCOME

Growth Rates

1Year -48.30%

3Years 59.74%

5Years -19.15%

7Years -3.83%

10Years -1.70%

344 M OPERATING CASH FLOW

Growth Rates

1Year -44.90%

3Years -18.37%

5Years -13.34%

7Years 5.28%

10Years 10.67%

-196 M INVESTING CASH FLOW

Growth Rates

1Year 92.88%

3Years -0.44%

5Years -0.80%

7Years 38.40%

10Years -3.29%

-479 M FINANCING CASH FLOW

Growth Rates

1Year -41.12%

3Years 67.91%

5Years 38.50%

7Years -1.26%

10Years -15.64%

-368 M REVENUE

Growth Rates

1Year -36.86%

3Years 29.36%

5Years 6.72%

7Years -8.66%

10Years -9.89%

0 OPERATING INCOME

Growth Rates

1Year -80.21%

3Years 27.35%

5Years -26.80%

7Years -21.42%

10Years -17.71%

-238 M NET INCOME

Growth Rates

1Year -48.30%

3Years 59.74%

5Years -19.15%

7Years -3.83%

10Years -1.70%

87.1 M OPERATING CASH FLOW

Growth Rates

1Year -44.90%

3Years -18.37%

5Years -13.34%

7Years 5.28%

10Years 10.67%

-255 M INVESTING CASH FLOW

Growth Rates

1Year 92.88%

3Years -0.44%

5Years -0.80%

7Years 38.40%

10Years -3.29%

-7.26 M FINANCING CASH FLOW

Growth Rates

1Year -41.12%

3Years 67.91%

5Years 38.50%

7Years -1.26%

10Years -15.64%

Balance Sheet Decomposition Two Harbors Investment Corp.

13.1 B ASSETS
10.9 B LIABILITIES

Current Assets	1.72 B
Cash & Short-Term Investments	795 M
Receivables	359 M
Other Current Assets	567 M
Non-Current Assets	3.05 B
Long-Term Investments	0
PP&E	0
Other Non-Current Assets	3.05 B

Current Liabilities	2.25 B
Accounts Payable	142 M
Short-Term Debt	1.33 B
Other Current Liabilities	775 M
Non-Current Liabilities	269 M
Long-Term Debt	564 M
Other Non-Current Liabilities	-295 M

EFFICIENCY

Earnings Waterfall Two Harbors Investment Corp.

Revenue	257 M
Cost Of Revenue	226 M
Gross Profit	31.2 M
Operating Expenses	52.9 M
Operating Income	109 M
Other Expenses	215 M
Net Income	-106 M

RATIOS

12.15% GROSS MARGIN

Averages

1Year 12.15%

3Years 55.61%

5Years 71.55%

7Years 70.67%

10Years 74.04%

42.29% OPERATING MARGIN

Averages

1Year 42.29%

3Years 84.07%

5Years 86.29%

7Years 112.64%

10Years 108.24%

-41.38% NET MARGIN

Averages

1Year -41.38%

3Years 28.69%

5Years 53.24%

7Years 47.31%

10Years 57.68%

-4.83% ROE

Averages

1Year -4.83%

3Years 4.03%

5Years -6.83%

7Years -3.64%

10Years 0.28%

-0.81% ROA

Averages

1Year -0.81%

3Years 0.79%

5Years -1.02%

7Years -0.55%

10Years 0.21%

3.39% ROIC

Averages

1Year 3.39%

3Years 7.03%

5Years -2.77%

7Years 22.14%

10Years 16.96%

FREE CASH FLOW ANALYSIS

Free Cash Flow Analysis Two Harbors Investment Corp.

Net Income	-106 M
Depreciation & Amortization	0
Capital Expenditures	0
Stock-Based Compensation	11 M
Change in Working Capital	57.5 M
Others	390 M
Free Cash Flow	30.9 M

3. WALL STREET ANALYSTS ESTIMATES

Wall Street Analysts Price Targets Two Harbors Investment Corp.

TWO-PB has no price targets from Wall Street.

4. DIVIDEND ANALYSIS

4.08% DIVIDEND YIELD

0.477 USD DIVIDEND PER SHARE

5. COMPETITION

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.

-11.6 USD

TWO-PC

Overvalued 147.09%

Invesco Mortgage Capital Inc. operates as a real estate investment trust (REIT) that primarily focuses on investing in, financing, and managing mortgage-backed securities and other mortgage-related assets.

0.0117 USD

IVR-PB

Overvalued 99.95%

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.

12.2 USD

CIM-PA

Overvalued 49.06%

MFA Financial, Inc., together with its subsidiaries, operates as a real estate investment trust (REIT) in the United States. The company invests in residential mortgage assets, including non-agency mortgage-backed securities (MBS), agency MBS, and credit risk transfer securities; residential whole loans, including purchased performing loans, purchased credit deteriorated, and non-performing loans; and mortgage servicing rights related assets.

PennyMac Mortgage Investment Trust, a specialty finance company, primarily invests in mortgage-related assets in the United States. The company's Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, distressed loans, real estate, and non-agency subordinated bonds.

6. Ownership

Insider Ownership Two Harbors Investment Corp.

Summary
Transactions

Sold

0-3 MONTHS

0 USD 0

3-6 MONTHS

0 USD 0

6-9 MONTHS

0 USD 0

9-12 MONTHS

735 K USD 8

Bought

0 USD 0

0-3 MONTHS

0 USD 0

3-6 MONTHS

0 USD 0

6-9 MONTHS

0 USD 0

9-12 MONTHS

Date	Value	Insider	Amount	Avg Price
10 months ago Jan 16, 2024	Sell 22.9 K USD	VINAR JASON Chief Operating Officer	- 1721	13.2838 USD
10 months ago Jan 16, 2024	Sell 46 K USD	Sandberg Rebecca B Chief Legal Officer	- 3466	13.2838 USD
10 months ago Jan 16, 2024	Sell 42.9 K USD	RUSH ROBERT Chief Risk Officer	- 3227	13.2838 USD
10 months ago Jan 16, 2024	Sell 38.1 K USD	RISKEY MARY KATHRYN Chief Financial Officer	- 2868	13.2838 USD
10 months ago Jan 16, 2024	Sell 76.2 K USD	LETICA NICHOLAS Chief Investment Officer	- 5737	13.2838 USD
10 months ago Jan 16, 2024	Sell 14.3 K USD	KEEN MATTHEW Chief Technology Officer	- 1075	13.2838 USD
10 months ago Jan 16, 2024	Sell 15.2 K USD	HANSON ALECIA Chief Administrative Officer	- 1147	13.2838 USD
10 months ago Jan 16, 2024	Sell 128 K USD	GREENBERG WILLIAM ROSS Chief Executive Officer	- 9663	13.2838 USD
10 months ago Jan 09, 2024	Sell 16.1 K USD	KEEN MATTHEW Chief Technology Officer	- 1147	14.0506 USD
10 months ago Jan 09, 2024	Sell 22.6 K USD	VINAR JASON Chief Operating Officer	- 1607	14.0506 USD
10 months ago Jan 09, 2024	Sell 139 K USD	GREENBERG WILLIAM ROSS Chief Executive Officer	- 9878	14.0506 USD
10 months ago Jan 09, 2024	Sell 48.4 K USD	RUSH ROBERT Chief Risk Officer	- 3443	14.0506 USD
10 months ago Jan 09, 2024	Sell 48.4 K USD	Sandberg Rebecca B Chief Legal Officer	- 3446	14.0506 USD
10 months ago Jan 09, 2024	Sell 16.1 K USD	KEEN MATTHEW Chief Technology Officer	- 1147	14.0506 USD
10 months ago Jan 09, 2024	Sell 43 K USD	RISKEY MARY KATHRYN Chief Financial Officer	- 3060	14.0506 USD
10 months ago Jan 09, 2024	Sell 17.2 K USD	HANSON ALECIA Chief Administrative Officer	- 1224	14.0506 USD
1 year ago Aug 16, 2023	Sell 112 K USD	LETICA NICHOLAS Vice Pres. & Chief Inv. Off.	- 8653	12.9614 USD
1 year ago May 22, 2023	Sell 51.5 K USD	Sandberg Rebecca B General Counsel and Secretary	- 4175	12.333 USD
1 year ago May 22, 2023	Sell 46.3 K USD	RISKEY MARY KATHRYN Chief Financial Officer	- 3755	12.333 USD
1 year ago May 22, 2023	Sell 108 K USD	GREENBERG WILLIAM ROSS President and CEO	- 8741	12.333 USD
1 year ago May 18, 2023	Sell 84.3 K USD	KASNET STEPHEN G Director	- 6863	12.28 USD
1 year ago May 18, 2023	Sell 21.7 K USD	BENDER JAMES J Director	- 1766	12.28 USD
1 year ago May 18, 2023	Sell 28.9 K USD	Abraham Spencer Director	- 2355	12.28 USD
1 year ago Feb 27, 2023	Sell 32.6 K USD	VINAR JASON Vice President & COO	- 1949	16.7301 USD
1 year ago Feb 27, 2023	Sell 19.4 K USD	KEEN MATTHEW Vice President & CTO	- 1158	16.7301 USD
1 year ago Feb 27, 2023	Sell 28.2 K USD	HANSON ALECIA Vice President & CAO	- 1684	16.7301 USD
1 year ago Feb 27, 2023	Sell 61.4 K USD	RUSH ROBERT Vice President & CRO	- 3668	16.7306 USD
1 year ago Feb 08, 2023	Sell 20.8 K USD	VINAR JASON Vice President & COO	- 1228	16.9743 USD
1 year ago Feb 08, 2023	Sell 43.1 K USD	Sandberg Rebecca B General Counsel and Secretary	- 2540	16.971 USD
1 year ago Feb 08, 2023	Sell 39 K USD	RUSH ROBERT Vice President & CRO	- 2301	16.9675 USD
1 year ago Feb 08, 2023	Sell 37 K USD	RISKEY MARY KATHRYN Chief Financial Officer	- 2181	16.9676 USD
1 year ago Feb 08, 2023	Sell 9.23 K USD	KEEN MATTHEW Vice President & CTO	- 544	16.96 USD
1 year ago Feb 08, 2023	Sell 15.6 K USD	HANSON ALECIA Vice President & CAO	- 915	17.0208 USD
1 year ago Feb 08, 2023	Sell 126 K USD	GREENBERG WILLIAM ROSS President and CEO	- 7408	16.992 USD
1 year ago Jan 30, 2023	Sell 21.8 K USD	VINAR JASON Vice President & COO	- 1231	17.731 USD
1 year ago Jan 30, 2023	Sell 50.5 K USD	Sandberg Rebecca B General Counsel and Secretary	- 2855	17.7014 USD
1 year ago Jan 30, 2023	Sell 46.1 K USD	RUSH ROBERT Vice President & CRO	- 2599	17.7376 USD
1 year ago Jan 30, 2023	Sell 38.8 K USD	RISKEY MARY KATHRYN Chief Financial Officer	- 2188	17.7378 USD
1 year ago Jan 30, 2023	Sell 13.2 K USD	KEEN MATTHEW Vice President & CTO	- 746	17.7245 USD
1 year ago Jan 30, 2023	Sell 18.2 K USD	HANSON ALECIA Vice President & CAO	- 1026	17.7299 USD
1 year ago Jan 30, 2023	Sell 71.2 K USD	GREENBERG WILLIAM ROSS President and CEO	- 4020	17.7233 USD
3 years ago Aug 10, 2021	Sell 643 K USD	KOEPPEN MATTHEW other: Former Chief Inv. Officer	- 100000	6.4267 USD
3 years ago Aug 11, 2021	Sell 709 K USD	KOEPPEN MATTHEW other: Former Chief Inv. Officer	- 110000	6.4417 USD
3 years ago Aug 12, 2021	Sell 548 K USD	KOEPPEN MATTHEW other: Former Chief Inv. Officer	- 84913	6.4551 USD
11 years ago May 15, 2013	Sell 5.12 M USD	Pine River Capital Management L.P. other: Group	- 500000	10.25 USD

7. News

8. Profile Summary

Two Harbors Investment Corp. TWO-PB

COUNTRY US

INDUSTRY REIT - Mortgage

MARKET CAP $ 1.21 B

Dividend Yield 4.08%

Description Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions. The company qualifies as a REIT for federal income tax purposes. As a REIT, the company must distribute at least 90% of annual taxable income to its stockholders. Two Harbors Investment Corp. was incorporated in 2009 and is headquartered in Minnetonka, Minnesota.

Contact 601 Carlson Parkway, Minnetonka, MN, 55305 https://www.twoharborsinvestment.com

IPO Date July 14, 2017

Employees 466

Officers Ms. Alecia Hanson Vice President & Chief Administrative Officer Ms. Sheila Lichty Vice President & Treasurer Mr. Chris Hurley Chief Technology Officer Ms. Margaret Field Karr Head of Investor Relations Mr. Nicholas Letica Vice President & Chief Investment Officer Mr. Robert Rush Vice President & Chief Risk Officer Mr. Jason Vinar Vice President & Chief Operating Officer Ms. Jillian Halm Chief Accounting Officer

Price Chart TWO-PB

Two Harbors Investment Corp. TWO-PB

Premium Plan

Unlimited Plan