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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash to Debt 1.52
TWO's Cash to Debt is ranked higher than
89% of the 632 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.06 vs. TWO: 1.52 )
Ranked among companies with meaningful Cash to Debt only.
TWO' s Cash to Debt Range Over the Past 10 Years
Min: 0.18  Med: 10000.00 Max: No Debt
Current: 1.52
Equity to Asset 0.20
TWO's Equity to Asset is ranked lower than
91% of the 663 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.50 vs. TWO: 0.20 )
Ranked among companies with meaningful Equity to Asset only.
TWO' s Equity to Asset Range Over the Past 10 Years
Min: 0.15  Med: 0.21 Max: 0.7
Current: 0.2
0.15
0.7
Interest Coverage 1.84
TWO's Interest Coverage is ranked lower than
72% of the 603 Companies
in the Global REIT - Residential industry.

( Industry Median: 3.29 vs. TWO: 1.84 )
Ranked among companies with meaningful Interest Coverage only.
TWO' s Interest Coverage Range Over the Past 10 Years
Min: 2.17  Med: 5.91 Max: 9999.99
Current: 1.84
2.17
9999.99
F-Score: 3
Z-Score: 1.45
M-Score: 0.42
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 48.38
TWO's Operating margin (%) is ranked higher than
50% of the 666 Companies
in the Global REIT - Residential industry.

( Industry Median: 48.26 vs. TWO: 48.38 )
Ranked among companies with meaningful Operating margin (%) only.
TWO' s Operating margin (%) Range Over the Past 10 Years
Min: -356.93  Med: 68.35 Max: 86.42
Current: 48.38
-356.93
86.42
Net-margin (%) 54.15
TWO's Net-margin (%) is ranked higher than
62% of the 667 Companies
in the Global REIT - Residential industry.

( Industry Median: 38.29 vs. TWO: 54.15 )
Ranked among companies with meaningful Net-margin (%) only.
TWO' s Net-margin (%) Range Over the Past 10 Years
Min: -319.74  Med: 67.69 Max: 104.22
Current: 54.15
-319.74
104.22
ROE (%) 8.22
TWO's ROE (%) is ranked higher than
58% of the 673 Companies
in the Global REIT - Residential industry.

( Industry Median: 6.92 vs. TWO: 8.22 )
Ranked among companies with meaningful ROE (%) only.
TWO' s ROE (%) Range Over the Past 10 Years
Min: -5.78  Med: 12.37 Max: 15.85
Current: 8.22
-5.78
15.85
ROA (%) 1.73
TWO's ROA (%) is ranked lower than
69% of the 678 Companies
in the Global REIT - Residential industry.

( Industry Median: 3.27 vs. TWO: 1.73 )
Ranked among companies with meaningful ROA (%) only.
TWO' s ROA (%) Range Over the Past 10 Years
Min: -2.18  Med: 2.34 Max: 3.41
Current: 1.73
-2.18
3.41
ROC (Joel Greenblatt) (%) 14.05
TWO's ROC (Joel Greenblatt) (%) is ranked higher than
52% of the 559 Companies
in the Global REIT - Residential industry.

( Industry Median: 10.46 vs. TWO: 14.05 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
TWO' s ROC (Joel Greenblatt) (%) Range Over the Past 10 Years
Min: -17.65  Med: 10.48 Max: 81048.02
Current: 14.05
-17.65
81048.02
Revenue Growth (3Y)(%) -4.20
TWO's Revenue Growth (3Y)(%) is ranked lower than
69% of the 470 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.90 vs. TWO: -4.20 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
TWO' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: 0  Med: -2.25 Max: 150.8
Current: -4.2
0
150.8
EBITDA Growth (3Y)(%) 8.80
TWO's EBITDA Growth (3Y)(%) is ranked higher than
61% of the 428 Companies
in the Global REIT - Residential industry.

( Industry Median: 3.40 vs. TWO: 8.80 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
TWO' s EBITDA Growth (3Y)(%) Range Over the Past 10 Years
Min: -28.5  Med: 8.80 Max: 20
Current: 8.8
-28.5
20
EPS Growth (3Y)(%) 4.60
TWO's EPS Growth (3Y)(%) is ranked lower than
52% of the 353 Companies
in the Global REIT - Residential industry.

( Industry Median: 6.10 vs. TWO: 4.60 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
TWO' s EPS Growth (3Y)(%) Range Over the Past 10 Years
Min: -29.1  Med: 4.60 Max: 198.6
Current: 4.6
-29.1
198.6
» TWO's 10-Y Financials

Financials (Next Earnings Date: Est. 2016-08-05)


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow
Oprt. Cash Flow & Net Income

» Details

Guru Trades

Q2 2015

TWO Guru Trades in Q2 2015

John Burbank 15,306 sh (New)
David Dreman 18,039 sh (+3.34%)
Leon Cooperman 100,000 sh (unchged)
Jim Simons 525,702 sh (-28.07%)
» More
Q3 2015

TWO Guru Trades in Q3 2015

Ray Dalio 13,442 sh (New)
Leon Cooperman 100,000 sh (unchged)
John Burbank Sold Out
Jim Simons Sold Out
David Dreman 15,226 sh (-15.59%)
» More
Q4 2015

TWO Guru Trades in Q4 2015

Jim Simons 1,517,800 sh (New)
Leon Cooperman Sold Out
Ray Dalio 10,442 sh (-22.32%)
David Dreman 3,559 sh (-76.63%)
» More
Q1 2016

TWO Guru Trades in Q1 2016

Paul Tudor Jones 152,361 sh (New)
Jim Simons 2,578,916 sh (+69.91%)
David Dreman 3,655 sh (+2.70%)
Ray Dalio Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with TWO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Business Description

Industry: REITs » REIT - Residential
Compare:NYSE:NRZ, NYSE:PPS, OTCPK:CDPYF, NYSE:EDR, OTCPK:BOWFF, NYSE:MORE, NYSE:AMH, NYSE:HTS, NYSE:SUI, OTCPK:MSTUF, NYSE:CMO, NYSE:IRET, NYSE:ARR, NAS:NYMT, NYSE:SBY, OTCPK:KMMPF, NYSE:ARPI, NYSE:RESI, NYSE:AMTG, OTCPK:IIPZF » details
Traded in other countries:2H2.Germany,
Two Harbors Investment Corp is a REIT. It invests in, finances and manages residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets and other financial assets.

Two Harbors Investment Corp. is a Maryland corporation incorporated on May 21, 2009 and commenced operations as a publicly traded company on October 28, 2009. The Company is engaged in investing in, financing and managing residential mortgage-backed securities, or RMBS, residential mortgage loans, mortgage servicing rights, or MSR, and other financial assets. The Company deploys moderate leverage as part of its investment strategy through short-term borrowings structured as repurchase agreements. The Company's assets include, agency RMBS, meaning RMBS whose principal and interest payments are guaranteed by the Government National Mortgage Association (Ginnie Mae), the Federal National Mortgage Association (Fannie Mae), or the Federal Home Loan Mortgage Corporation (Freddie Mac); Non-Agency RMBS, meaning RMBS that are not issued or guaranteed by Ginnie Mae, Fannie Mae or Freddie Mac; MSR; Prime nonconforming residential mortgage loans and credit sensitive residential mortgage loans, or CSL; and other financial assets comprising approximately 5% to 10% of the portfolio. The Company is externally managed and advised by PRCM Advisers LLC, a subsidiary of Pine River Capital Management L.P., or Pine River, a multi-strategy asset management firm. It competes with other REITs, specialty finance companies, savings and loan associations, banks, mortgage bankers, insurance companies, mutual funds, institutional investors, investment banking firms, financial institutions, governmental agencies, mortgage loan servicers and other entities. The Company's business is subject to extensive regulation by U.S. federal and state governmental authorities, self-regulatory organizations and securities exchanges.

Ratios

vs
industry
vs
history
P/E(ttm) 10.03
TWO's P/E(ttm) is ranked higher than
67% of the 565 Companies
in the Global REIT - Residential industry.

( Industry Median: 15.53 vs. TWO: 10.03 )
Ranked among companies with meaningful P/E(ttm) only.
TWO' s P/E(ttm) Range Over the Past 10 Years
Min: 3.9  Med: 8.88 Max: 442.5
Current: 10.03
3.9
442.5
Forward P/E 9.23
TWO's Forward P/E is ranked higher than
88% of the 208 Companies
in the Global REIT - Residential industry.

( Industry Median: 17.76 vs. TWO: 9.23 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 10.03
TWO's PE(NRI) is ranked higher than
67% of the 565 Companies
in the Global REIT - Residential industry.

( Industry Median: 16.09 vs. TWO: 10.03 )
Ranked among companies with meaningful PE(NRI) only.
TWO' s PE(NRI) Range Over the Past 10 Years
Min: 3.94  Med: 8.93 Max: 442.5
Current: 10.03
3.94
442.5
P/B 0.87
TWO's P/B is ranked higher than
71% of the 663 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.12 vs. TWO: 0.87 )
Ranked among companies with meaningful P/B only.
TWO' s P/B Range Over the Past 10 Years
Min: 0.56  Med: 0.95 Max: 1.66
Current: 0.87
0.56
1.66
P/S 5.35
TWO's P/S is ranked higher than
67% of the 651 Companies
in the Global REIT - Residential industry.

( Industry Median: 7.32 vs. TWO: 5.35 )
Ranked among companies with meaningful P/S only.
TWO' s P/S Range Over the Past 10 Years
Min: 3.81  Med: 5.99 Max: 76.97
Current: 5.35
3.81
76.97
Current Ratio 47.71
TWO's Current Ratio is ranked higher than
99% of the 626 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.99 vs. TWO: 47.71 )
Ranked among companies with meaningful Current Ratio only.
TWO' s Current Ratio Range Over the Past 10 Years
Min: 0.15  Med: 3.50 Max: 96.4
Current: 47.71
0.15
96.4
Quick Ratio 47.71
TWO's Quick Ratio is ranked higher than
99% of the 626 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.85 vs. TWO: 47.71 )
Ranked among companies with meaningful Quick Ratio only.
TWO' s Quick Ratio Range Over the Past 10 Years
Min: 0.15  Med: 3.50 Max: 96.4
Current: 47.71
0.15
96.4
Days Sales Outstanding 184.44
TWO's Days Sales Outstanding is ranked lower than
97% of the 482 Companies
in the Global REIT - Residential industry.

( Industry Median: 18.50 vs. TWO: 184.44 )
Ranked among companies with meaningful Days Sales Outstanding only.
TWO' s Days Sales Outstanding Range Over the Past 10 Years
Min: 40.73  Med: 59.51 Max: 344.31
Current: 184.44
40.73
344.31

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 11.99
TWO's Dividend Yield is ranked higher than
93% of the 840 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.80 vs. TWO: 11.99 )
Ranked among companies with meaningful Dividend Yield only.
TWO' s Dividend Yield Range Over the Past 10 Years
Min: 2.84  Med: 13.47 Max: 19.61
Current: 11.99
2.84
19.61
Dividend Payout 1.21
TWO's Dividend Payout is ranked lower than
54% of the 649 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.81 vs. TWO: 1.21 )
Ranked among companies with meaningful Dividend Payout only.
TWO' s Dividend Payout Range Over the Past 10 Years
Min: 0.29  Med: 0.90 Max: 3.64
Current: 1.21
0.29
3.64
Dividend Growth (3y) -15.30
TWO's Dividend Growth (3y) is ranked lower than
88% of the 359 Companies
in the Global REIT - Residential industry.

( Industry Median: 3.80 vs. TWO: -15.30 )
Ranked among companies with meaningful Dividend Growth (3y) only.
TWO' s Dividend Growth (3y) Range Over the Past 10 Years
Min: 0  Med: -14.35 Max: 87.4
Current: -15.3
0
87.4
Forward Dividend Yield 10.84
TWO's Forward Dividend Yield is ranked higher than
90% of the 840 Companies
in the Global REIT - Residential industry.

( Industry Median: 5.26 vs. TWO: 10.84 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 7.32
TWO's Yield on cost (5-Year) is ranked higher than
64% of the 840 Companies
in the Global REIT - Residential industry.

( Industry Median: 5.92 vs. TWO: 7.32 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
TWO' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 1.73  Med: 8.22 Max: 11.97
Current: 7.32
1.73
11.97
3-Year Average Share Buyback Ratio -5.80
TWO's 3-Year Average Share Buyback Ratio is ranked higher than
54% of the 410 Companies
in the Global REIT - Residential industry.

( Industry Median: -6.70 vs. TWO: -5.80 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
TWO' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -181.6  Med: -50.00 Max: -5.8
Current: -5.8
-181.6
-5.8

Valuation & Return

vs
industry
vs
history
Price/Net Current Asset Value 1.74
TWO's Price/Net Current Asset Value is ranked higher than
63% of the 46 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.32 vs. TWO: 1.74 )
Ranked among companies with meaningful Price/Net Current Asset Value only.
TWO' s Price/Net Current Asset Value Range Over the Past 10 Years
Min: 1.01  Med: 1.25 Max: 1.64
Current: 1.74
1.01
1.64
Price/Tangible Book 1.00
TWO's Price/Tangible Book is ranked higher than
58% of the 654 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.14 vs. TWO: 1.00 )
Ranked among companies with meaningful Price/Tangible Book only.
TWO' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.58  Med: 0.98 Max: 1.66
Current: 1
0.58
1.66
Price/Projected FCF 1.11
TWO's Price/Projected FCF is ranked lower than
99.99% of the 240 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.31 vs. TWO: 1.11 )
Ranked among companies with meaningful Price/Projected FCF only.
TWO' s Price/Projected FCF Range Over the Past 10 Years
Min: 1.1  Med: 1.22 Max: 1.37
Current: 1.11
1.1
1.37
Price/Median PS Value 0.89
TWO's Price/Median PS Value is ranked higher than
72% of the 527 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.07 vs. TWO: 0.89 )
Ranked among companies with meaningful Price/Median PS Value only.
TWO' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.64  Med: 0.97 Max: 12.85
Current: 0.89
0.64
12.85
Price/Graham Number 0.67
TWO's Price/Graham Number is ranked higher than
63% of the 498 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.89 vs. TWO: 0.67 )
Ranked among companies with meaningful Price/Graham Number only.
TWO' s Price/Graham Number Range Over the Past 10 Years
Min: 0.38  Med: 0.62 Max: 4.52
Current: 0.67
0.38
4.52
Earnings Yield (Greenblatt) (%) -76.01
TWO's Earnings Yield (Greenblatt) (%) is ranked lower than
100% of the 639 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.40 vs. TWO: -76.01 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
TWO' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: -79.19  Med: 1.50 Max: 12001.1
Current: -76.01
-79.19
12001.1
Forward Rate of Return (Yacktman) (%) -6.80
TWO's Forward Rate of Return (Yacktman) (%) is ranked lower than
70% of the 358 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.83 vs. TWO: -6.80 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
TWO' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -8  Med: -1.40 Max: 10.4
Current: -6.8
-8
10.4

More Statistics

Revenue (TTM) (Mil) $569.7
EPS (TTM) $ 0.84
Beta0.52
Short Percentage of Float1.36%
52-Week Range $6.91 - 10.30
Shares Outstanding (Mil)347.57

Analyst Estimate

Dec16 Dec17
Revenue (Mil $)
EPS ($) 0.92 0.94
EPS w/o NRI ($) 0.92 0.94
EPS Growth Rate
(3Y to 5Y Estimate)
N/A

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