Hatteras Financial Corp Hattera
HTS
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- Hatteras Financial Corp (NYSE: HTS) is an externally managed mortgage real estate investment trust (REIT) that acquires, invests in and manages a portfolio of residential mortgage investments, primarily agency mortgage-backed securities (MBS), adjustable-rate mortgage (ARM) securities, hybrid adjustable-rate residential mortgage securities backed by single-family residences; residential mortgage loans, mortgage servicing rights (MSR), non-agency securities, credit-risk transfer bonds, and other real estate-related financial assets permitted under REIT guidelines. The company focuses on agency MBS and other agency-issued securities with an emphasis on floating-rate and ARM assets to optimize returns in varying interest rate environments. Hatteras Financial operates in the residential mortgage sector, targeting investors seeking high-yield income from leveraged mortgage investments, with business segments encompassing its primary operations through subsidiaries including Onslow Bay Financial LLC, First Winston Securities, Inc., and Wind River TRS LLC; it is externally managed and advised by Atlantic Capital Advisors LLC. Founded in 2007 and headquartered in Winston-Salem, North Carolina, at 751 W. Fourth Street, Suite 400, the company conducts its investment activities primarily within the United States. In a significant strategic development, Hatteras Financial was acquired by Annaly Capital Management, Inc. (NYSE: NLY) in a $1.5 billion cash-and-stock transaction completed on July 12, 2016, through a merger with Ridgeback Merger Sub Corporation, a wholly-owned subsidiary of Annaly, under which Hatteras shareholders received $5.55 in cash plus 0.9894 shares of Annaly common stock per share. This acquisition integrated Hatteras' ARM-focused portfolio into Annaly's broader mortgage REIT operations, enhancing Annaly's diversification into hybrid adjustable-rate assets and increasing its market capitalization to over $10.5 billion pro forma. Following the merger, HTS common shares ceased trading as an active symbol, with no reported institutional ownership or recent filings as of 2025, reflecting its status as a fully absorbed subsidiary within Annaly's residential credit and agency MBS strategies.