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TWO-P-A

TWO HARBORS INVESTMENT CORP. · Series A · REIT - Diversified
Also quoted as: TWO-A, TWOprA, TWO.PRA, TWO-PA, TWOpA
$24.57
last price

About this security

TWO-P-A is a 8.125% cumulative perpetual preferred stock issued by TWO HARBORS INVESTMENT CORP., a REIT - Diversified issuer. $25 liquidation preference, current yield 8.27%, callable from 2027-04-27.

TWO HARBORS INVESTMENT CORP.: Two Harbors Investment Corp. is a Maryland-based, internally managed real estate investment trust (REIT) founded in 2009 that invests in, finances, and manages mortgage servicing rights (MSR) and Agency residential mortgage-backed securities (RMBS). Its Agency RMBS holdings are backed by government-sponsored enterprises such as Fannie Mae and Freddie Mac, or government agencies such as Ginnie Mae. Through its operational platform, RoundPoint Mortgage Servicing LLC, the company is one of the largest servicers of conventional mortgage loans in the United States. The company's strategy centers on managing interest rate and prepayment risk across its combined MSR and RMBS portfolio to generate more stable returns across varying market conditions. ↗

Issuer page — all TWO HARBORS INVESTMENT CORP. securities & profile →

Key Stats ✓ terms from SEC filing — verify via link below ✓ verified against SEC filing

live page · rendered 19:36:34 UTC · refreshes from the market feed on each visit · last SEC-verified 2026-06-16
Current Yield
8.27%
Annual Dividend
$2.0312
Recent Market Price
$24.57
as of 2026-06-23
Disc/Prem to Par (→ screen)
-1.72% (−$0.43)
Recent Ex-Date
2026-04-10
Pay Frequency
quarterly
Cumulative
Yes
Original Coupon
8.125%
Call Date
2027-04-27
Yield to Call
10.26%
Yield to Worst
8.27%
Liq. Preference
$25.00
Maturity
Perpetual
Redeemable
Yes
Convertible
No — Limited change-of-control conversion
Conversion Ratio
5.3821
Floating Rate
3-mo LIBOR + 5.660%
Pay Dates
April 27, July 27, October 27, January 27
Shares Offered (original)
5,000,000 +750,000 OA
Issued
2017-03-14
Series
A
Alt. Symbology
TWO-A, TWOprA, TWO.PRA, TWO-PA, TWOpA

vs. REIT - Diversified category (121 issues): yield 8.27% vs avg 8.16% · discount -1.7% vs avg -14.0%

Quote

 TWO-P-A (preferred)TWO (common)
Last $24.57 $12.34
Change — —
Open$24.68$12.35
High / Low $24.81 / $24.49 $12.37 / $12.32
Prev Close——
Volume28,286936,788
52-Week High / Low $25.10 / $22.75 $14.17 / $8.78

52-week range based on available history. Shares outstanding / market cap require a fundamentals feed (not in current data plan).

Price

● TWO-P-A ● TWO (common)

Dividend History

Ex-DateAmount / Share
2026-04-10$0.507810
2026-01-12$0.507810
2025-10-10$0.507810
2025-07-11$0.507810
2025-04-11$0.507810
2025-01-10$0.507810
2024-10-11$0.507810
2024-07-12$0.507810
2024-04-11$0.507810
2024-01-11$0.507810
2023-10-11$0.507810
2023-07-11$0.507810

Performance — $10K Calculator

See what an investment in TWO-P-A would be worth today, dividends reinvested.

Dividends reinvested (DRIP) at the close on each ex-date. Full performance page →

🔔 Get dividend & filing alerts for TWO-P-A →

Prospectus (SEC 424B5)

We are offering 5,000,000 shares of our 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share, or the Series A Preferred Stock.

Use of proceeds: Net proceeds will be used for general corporate purposes (per the Use of Proceeds section); specific allocation not detailed in the provided text.

Full Prospectus (SEC filing) →

Other Securities from TWO HARBORS INVESTMENT CORP.

SymbolTypeCouponPriceYield
TWO-P-B preferred 7.625% 24.56 7.76%
TWO-P-C preferred 7.250% 24.97 9.58%

News — TWO HARBORS INVESTMENT CORP.

Issuer news via Tiingo, tagged to TWO.

Related Articles

About this site

This site tracks preferred stocks and baby bonds — investments that pay regular, scheduled dividends. Every figure shown is drawn from companies' SEC filings and live market quotes.

What you're looking at
A preferred stock sits between a common stock and a bond. It usually trades near a $25 face value and pays a fixed dividend on a set schedule. Baby bonds are similar, but they are debt that matures on a stated date.
Income & dividends
Current YieldAnnual income ÷ today's price — what you'd actually earn buying now. The headline income number.
Annual Dividend / InterestTotal cash paid per share each year. A preferred pays a "dividend"; a baby bond pays "interest."
Original CouponThe annual rate set when it was issued, as a % of par (6% of $25 = $1.50/yr). Fixed stays put; floating/reset rates change later.
Pay FrequencyHow often it pays — usually quarterly, sometimes monthly or twice a year.
Recent Ex-DateOwn it before this date to receive the next payment; buy on or after and you miss that one.
Price & value
Recent Market PriceThe latest market quote, delayed at least 20 minutes.
Liquidation Preference (Par)Face value — almost always $25 (some are $50, $100, or $1,000). What you're owed if the company winds down, and the price it can be redeemed at.
Disc / Prem to ParHow far the price sits below par (a discount) or above it (a premium). A discount can add return if it's redeemed at par; a premium is what you'd lose if it is.
Call & redemption
Call DateThe first date the issuer may redeem (buy back) the share at par. Before it you're protected; after it, it can be called at any time.
RedeemableWhether the issuer has the right to buy it back at all.
Yield to CallYour annual return if bought today and redeemed at par on the call date. If it's below the current yield, a call would cost you.
Yield to WorstThe lowest of the possible outcomes (to call, to maturity, or simply held) — the cautious yield to judge by.
Dividend terms & structure
CumulativeIf a payment is skipped, a cumulative issue still owes it (and must catch up before any common dividend); a non-cumulative one does not.
Interest DeferrableOn some baby bonds the issuer may postpone interest for a period — common on junior subordinated notes.
Floating / Reset RateThe rate isn't fixed forever — after a set date it resets to a benchmark (e.g. 3-month SOFR or the 5-year Treasury) plus a spread.
MaturityFor a baby bond, the date the principal is repaid. Most preferreds are perpetual — no maturity.
ConvertibleWhether it can turn into the company's common stock. "Change-of-control conversion" means that right applies only if the company is taken over.
Conversion Price / RatioFor convertibles, the price or number of common shares each unit converts into.
SeriesThe class label from the SEC filing (e.g. Series A). Note: it can differ from the ticker letter.
IssuedThe date the security first settled — when it came to market.
Shares OfferedHow many shares (or depositary shares) were sold in the original offering.
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