Two Harbors InvestmentSTU:2H2 -1.23%28 PB Ratio is 1.12 as of Jul. 06, 2026, which is 27% above its 10-year median of 0.88. GuruFocus rates STU:2H2 with a GF Score™ of 28/100. The stock has 5 warning signs investors should review. Among 931 REITs companies, Two Harbors Investment ranks worse than 73.79% on this metric.
The historical rank and industry rank for Two Harbors Investment's PB Ratio or its related term are showing as below:
STU:2H2'
s PB Ratio Range Over the Past 10 Years
Min: 0.32 Med: 0.88 Max: 1.25
Current: 1.12
During the past 13 years, Two Harbors Investment's highest PB Ratio was 1.25. The lowest was 0.32. And the median was 0.88.
STU:2H2's PB Ratio is ranked worse than 73.79% of 931
companies
in the REITs industry
Industry Median: 0.87
vs STU:2H2: 1.12
During the past 12 months, Two Harbors Investment's average Book Value Per Share Growth Rate was -27.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -14.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -17.20% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -19.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Two Harbors Investment was 19.40% per year. The lowest was -32.50% per year. And the median was -9.35% per year.
Back to Basics: PB Ratio
Two Harbors Investment (STU:2H2) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Mortgage subindustry, Two Harbors Investment's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Two Harbors Investment PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, Two Harbors Investment's PB Ratio distribution charts can be found below:
* The bar in red indicates where Two Harbors Investment's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Two Harbors Investment (STU:2H2) has a PB Ratio of 1.12 as of Jul. 06, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Two Harbors Investment and its competitors. This is 27% above median its historical median of 0.88. Over the past decade, Two Harbors Investment's PB Ratio has ranged from 0.32 to 1.25. According to the industry distribution chart, Two Harbors Investment ranks #687 out of 931 companies in the REITs industry, placing it in the top 73.8%.
Is Two Harbors Investment's PB Ratio too high?
Two Harbors Investment's current PB Ratio of 1.12 is 27% above median its 10-year median of 0.88. Over the past 10 years, this metric has ranged from a low of 0.32 to a high of 1.25. The REITs industry median PB Ratio is 0.87. Two Harbors Investment's value of 1.12 is 28.7% above this industry median. Based on the distribution chart, Two Harbors Investment ranks #687 out of 931 companies in the REITs industry, which is below the industry midpoint. Overall, Two Harbors Investment has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does Two Harbors Investment's PB Ratio compare to LADR and ORC?
According to the REITs industry distribution chart, Two Harbors Investment ranks #687 out of 931 companies for PB Ratio. This places Two Harbors Investment in the lower half of its industry. The industry median PB Ratio is 0.87. Two Harbors Investment's value of 1.12 is 28.7% above this benchmark. Historically, Two Harbors Investment's own PB Ratio has ranged from 0.32 to 1.25 over the past decade. While the company's 10-year median is 0.88 vs. the industry median of 0.87, Two Harbors Investment has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 931 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Two Harbors Investment's current PB Ratio of 1.12 is 28.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Two Harbors Investment and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Two Harbors Investment's current PB Ratio is 1.12, which is 27% above median its own 10-year median of 0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Two Harbors Investment stock overvalued right now?
Two Harbors Investment (STU:2H2) has a current PB Ratio of 1.12. The current PB Ratio is 1.12, which is 27% above median its 10-year median of 0.88 and 28.7% above the REITs industry median of 0.87. Two Harbors Investment's overall GF Score™ is 28/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Two Harbors Investment (STU:2H2), the current PB Ratio is 1.12 as of Jul. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Two Harbors Investment Corp is a real estate investment trust focused on investing in, financing, and managing residential mortgage-backed securities, residential mortgage loans, mortgage servicing rights, and commercial real estate. The majority of its investment portfolio is split between agency RMBS purchased from government-sponsored enterprises and nonagency RMBS. The company derives revenues mainly from its MSR and Agency RMBS portfolio, including servicing fee income, float income, and interest income, as well as mortgage loan origination activities established to support the MSR portfolio. Its investment portfolio is subject to market risks, mainly interest rate, basis, and prepayment risk. The majority of income is generated by available-for-sale securities.
28GF Score
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