Two Harbors Investment (TWO)

• Market cap: $1.4B
• 1 day: 0.97%
• 5 days: 4.40%
• 1 month: 19.22%
• 3 months: 16.96%
• 6 months: 0.60%
• Year to date: 12.76%
• 1 year: 7.90%
• 5 years: -77.89%
• 10 years: -83.56%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Two Harbors Investment Corp is a real estate investment trust primarily focused on investing in, financing, and managing residential mortgage-backed securities, or RMBS; residential mortgage loans; mortgage servicing rights; and commercial real estate. The majority of the company's investment portfolio is split between agency RMBS purchased from government-sponsored enterprises and nonagency RMBS. Two Harbors derives nearly all of its revenue in the form of interest income collected from its investments. Most of this income is generated by available-for-sale securities, while residential mortgage loans held for investment in securitization trusts also contribute a sizable amount.

Employees: 466

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

44% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 25

3% more funds holding

Funds holding: 205 [Q2] → 212 (+7) [Q3]

3% more capital invested

Capital invested by funds: $899M [Q2] → $923M (+$24.2M) [Q3]

7% less repeat investments, than reductions

Existing positions increased: 67 | Existing positions reduced: 72

1.01% less ownership

Funds ownership: 65.76% [Q2] → 64.75% (-1.01%) [Q3]

35% less call options, than puts

Call options by funds: $3.33M | Put options by funds: $5.12M

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $12.50 8% downside
• Avg. target: $13.56 0% upside
• High target: $14.75 9% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

RBC Capital Kenneth Lee 81% 1-year accuracy 46 / 57 met price target	4% downside $13	Sector Perform Maintained	13 Feb 2025
JP Morgan Richard Shane 70% 1-year accuracy 44 / 63 met price target	8% downside $12.50	Neutral Maintained	31 Jan 2025
JMP Securities Chris Muller 75% 1-year accuracy 6 / 8 met price target	4% upside $14	Market Outperform Reiterated	23 Jan 2025
Compass Point Merrill Ross 67% 1-year accuracy 8 / 12 met price target	9% upside $14.75	Buy Maintained	25 Nov 2024