The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Friday, August 14, 2026

Subject of the day

TWO

Concerning the House

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.

United States · www.twoinv.com

The Long Run

FY 2011–2025 · 15 years

LineLatestCAGRTrend
Net income-$454.30M+117.3%
Cash from ops$88.92M+9.4%
Quotation

$12.03

-0.01 (-0.1%)

52w hi$13.30
52w lo$8.40
Vol1.63M
As ofAug 13
The Verdict

Hold

Our score +0.19

Short+0.28
Medium+0.15
Long+0.08

computed 2026-08-13

By the Numbers

Two Harbors Investment Corp.

Real Estate · REIT - Mortgage

Market cap$1.26B
Enterprise value$7.64B
Trailing P/E
Forward P/E10.22x
EV / EBITDA
P / S (ttm)1.98x
Profit margin-3.4%
Return on equity-1.2%
Revenue growth+620.2%
Earnings growth
Debt / equity379.40
Risk Metrics
Beta vs SPX0.61
Corr SPX0.29
Annual vol34.6%
Annual ret+0.5%
Sharpe0.01
Max DD-37.2%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.24
Sector+0.04
Technical+0.21
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$12.04$12.05$12.01$12.031.63M
Aug 12$12.00$12.05$12.00$12.041.47M
Aug 11$12.03$12.04$11.98$11.997.74M
Aug 10$12.06$12.09$12.01$12.035.39M
Aug 7$12.06$12.12$12.05$12.123.00M