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Hatteras Financial Corp. Q2 2010 Earnings Call TranscriptWed, Jul 28, 2010 • 1 Comment
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Hatteras Financial Corp. Q1 2010 Earnings Call TranscriptWed, Apr 28, 2010
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Hatteras Financial Corp. Q4 2009 Earnings Call TranscriptWed, Feb 17, 2010
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Hatteras Financial Corp. Q3 2009 Earnings Call TranscriptWed, Oct 28, 2009
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Hatteras Financial Corp. Q2 2009 Earnings Call TranscriptWed, Jul 29, 2009
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Hatteras Financial Q1 2009 Earnings Call TranscriptWed, Apr 29, 2009
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Hatteras Financial Q4 2008 Earnings Call TranscriptWed, Feb 11, 2009 • 1 Comment
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Hatteras Financial Corporation Q3 2008 Earnings Call TranscriptWed, Nov 12, 2008
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at CNBC.com (Jun 22, 2012)
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Business Wire (Jun 19, 2012)
HTS vs. ETF Alternatives
Company Description
Our Company
We are an externally-managed mortgage REIT that invests primarily in adjustable-rate and hybrid adjustable-rate single-family residential mortgage pass-through securities guaranteed or issued by a U.S. Government agency (such as the Government National Mortgage Association... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Tuesday, June 18, 4:41 PM Hatteras Financial (HTS) declares $0.70/share quarterly dividend, in line with previous. Forward yield 10.86%. For shareholders of record June 27. Payable July 1. Ex-div date June 25. (PR) Comment! [Dividends]
- Tuesday, June 18, 4:27 PM Hatteras Financial (HTS) receives board authorization for a stock repurchase program of up to 10M shares (about 10% of the float). Shares +0.8% AH. Previous: Hatteras maintains its $0.70 dividend. Comment! [Financials, Breaking News]
- Tuesday, June 18, 4:10 PM Hatteras Financial (HTS) maintains its payout, declaring a Q2 dividend of $0.70/share for an annualized yield of 10.9% based on today's close which had the stock trading at a 8.5% discount to March 31 book value. Shares +0.8% AH. (PR) 1 Comment [Financials, Breaking News]
- Monday, June 17, 3:05 PM Rate worries have the mREIT sector (REM -1.6%) turning sharply lower again. Leading the way today is Javelin Mortgage (JMI -5.9%) - the non-agency mREIT externally managed by Armour Residential (ARR -1.7%) - after a downgrade to Sell at Barclays, which also cuts its price target to $14 from $21. Others: Annaly (NLY -3.1%), Chimera (CIM -2.1%), Invesco (IVR -2%), Two Harbors (TWO -2.2%), Hatteras (HTS -2.1%). 10 Comments [Financials, On the Move]
- Thursday, June 13, 10:08 AM Armour Residentail (ARR +4.8%) surges after holding its monthly distribution steady at $0.07/share. Capstead Mortgage (CMO +2%) gains as well after maintaining its quarterly payout at $0.31. The mREIT sector (REM +1.5%). Some other names moving: Invesco (IVR +2.1%), Two Harbors (TWO +1%), Hatteras (HTS +1.6%), Anworth (ANH +1.8%), Western Asset (WMC +3.4%), PennyMac (PMT +2.1%). 14 Comments [Financials, On the Move]
- Friday, June 7, 3:09 PM "I would not overestimate retail investors' knowledge of how this business works," says Scott Ulm, co-CEO of Armour Residential (ARR -1.3%). Income fans love mREITs (MORT -1.3%) but can suffer quick losses as rates rise. "We believe mREITs are not appropriate for most individual investors," says Edward Jones' Kate Warne, warning brokers to steer clients away from the sector. Ulm remains hopeful: "As bonds become cheaper, reinvestment becomes more profitable." Beneath a big rally for the averages, the sector is hit again today: American Capital (AGNC -2.6%), (MTGE -1.2%), Annaly (NLY -1.9%), Two Harbors (TWO -0.9%), Hatteras (HTS -1.9%), CYS (CYS -2.8%), Anworth (ANH -0.9%). 44 Comments [Financials, On the Move]
- Friday, June 7, 10:26 AM "I would not overestimate retail investors' knowledge of how this business works," says Armour Residential (ARR) co-CEO Scott Ulm. Income players love mREITs (MORT), but when rates rise, losses come quick. "We believe mREITs are not appropriate for most individual investors," writes Edward Jones' Kate Warne as the brokerage warns its 12K advisors to steer clients clear. Ulm remains hopeful: "As bonds become cheaper, reinvestment becomes more profitable." With rates up today, the sector is lower again: Annaly (NLY -0.8%), American Capital (AGNC -2%), CYS (CYS -1.1%), Western Asset (WMC -0.6%), Invesco (IVR -0.6%), Hatteras (HTS -0.8%). Comment! [Financials]
- Thursday, June 6, 4:28 PM With interest rate fears subsiding until at least 8:30 tomorrow morning, mREITs (MORT +1.9%) get a breather. Leading higher were American Capital (AGNC +3.4%), (MTGE +1.1%), Chimera (CIM +2.7%), Hatteras (HTS +2.4%), CYS Investments (CYS +1.9%), Javelin (JMI +4.7%), and Annaly (NLY +1.9%). One theme from conference presentations this week: Most have taken advantage of widening spreads to buy - if rates come in, they're set to profit. 11 Comments [Financials, On the Move]
- Tuesday, June 4, 9:28 AM More from CYS Investments at KBW (previous): The speed (page 9) with which mortgage rates have increased in unlike anything seen even during the financial crisis, says CEO Kevin Grant. He muses over whether Bernanke's May testimony (taper) was confused messaging or an intentional market test. The punishment inflicted on mREITs (MORT) is well-known, but don't forget: Refinance activity will crater - gain on sale windfall to banks may be over, home affordability is now diminished, banks will be pushed to Treasurys over credit risk as the ROE on government paper is now improved. Grant's talk (webcast) is one all mREIT investors will value. 25 Comments [Financials]
- Tuesday, June 4, 8:34 AM Hatteras Financial (HTS) makes the case for an 11.7% ROE at the KBW Mortgage Conference, telling attendees (presentation) 7.5x leverage on the current yield on MBS of 1.98% minus a 0.68% cost of funds allows for it (after adding in yield on unleveraged equity). Comment! [Financials]
- Thursday, May 30, 10:04 AM Buy the (big) dip in the mREITs, say both KBW and RBC Capital. "We think the bond market has over-reacted and mREITs have over-reacted to that over-reaction," says KBW (presumably Bose George). Stocks to buy if the Fed cuts back earlier-than-expected: CMO, HTS, MFA, ANH, DX. Stocks if the Fed continues with the status quo: AGNC, NLY, WMC. RBC favors NLY, MFA, and HTS, but warns AGNC's higher leverage magnifies losses as well as gains. The sector (MORT +1.1%) is continuing with yesterday afternoon's bounce. 17 Comments [Financials]
- Wednesday, May 29, 3:20 PM Some green creeps into the mortgage REIT sector (MORT) after a panicky morning. Sector giants AGNC and NLY post small gains, while hybrid Invesco (IVR +2.8%) and agency adjustable-rate player Hatteras (HTS +3.1%) have moved strongly higher. Not only did insiders step in to buy plunging Armour Residential today, but they were also buyers (I, II) of sister-company Javelin Mortgage (JMI -2.3%) which got hit with a downgrade to Hold at Citigroup. At the morning's low of $14.69, the stock was trading at a 20% discount to March 31 book value. 6 Comments [Financials, On the Move]
- Thursday, May 23, 3:01 PM Agency MBS fail to bounce from the "massive liquidation" following Bernanke's testimony yesterday, according to CIBC's Tom Tucci. Suggestions of a tapering of Fed purchases sent Fannie Mae MBS with 3% coupons to their lowest levels of the year. "Right now it seems the only source of demand is the Fed," says BAML's Brad Scott. Unsurprisingly, pure agency mREITs like AGNC and ARR hit 52-week lows today. Annaly (NLY) - now diversified into the commercial space with the CXS purchase - outperforms. 13 Comments [Financials]
- Monday, May 6, 9:50 AM More sell-side on the mREITS (MORT): Maxim keeps a Buy with $33 PT on AGNC expecting the annual dividend to be maintained at $5/share thanks to $1.08 of undistributed taxable income in the kitty (KBW agrees). Jefferies is cautious, calling AGNC's Q1 tale an example of how even a well-run mREIT can run afoul. "Price and extension risk inherent in agency MBS (NLY, HTS, CYS, CMO, ANH, ARR, WMC) today are risks most investors underestimate." 10 Comments [Financials]
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Friday, May 3, 7:25 AM
A check of some other mortgage REITs premarket after AGNC reported a big loss in Q1: NLY -1%, IVR -0.4%, HTS -0.7%, CYS -0.7%, MFA -0.3%, CMO -2.3%, DX -1.8%, WMC -3.3%.
3 Comments [Financials, On the Move] - Thursday, April 25, 7:08 AM Hatteras Financial (HTS) is downgraded to Hold at KBW. Anybody paying attention to yesterday's earnings call (transcript) isn't surprised as KBW's Michael Widner told management he sees sustainable earnings (and with them the dividend) at closer to $0.60 vs. the current $0.70, and management did nothing to dissuade him of that notion. Shares -1.2% premarket. Comment! [Financials, On the Move]
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Ocean Man: MORL has a leveraged 2x dividend. MORL's yield right now is 28%, REM is 13%.
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Clayton Rulli: How is it so high? is it covered call boosted or something
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Ron Reed: At some point it will, the big question is when. I'm not worried for the next three quarters, I'll re-evaul. then and as time goes on -
FREDDESAIN: Mr. Reed is correct about the reiterated rate cut warnings. These stocks are not $TSLA. I'm staying put for the long term.
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DaLatin: They cut. ARR has 3 cuts in a row. or is it 4. From 11 to 7/month. Not hedged agaist rate increases.Good thing Ben will let Yellen hike !
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Paul Zimbardo
Ex-Dividend Treasures And Traps: mREITs, Tobacco, And Utilities http://seekingalpha.com/a/mvzx $CYS $DTE $HTS $MO $UIL #Stocks #Dividends - View all 0 replies
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Patrick Harden
Huge book value growth at Hatteras - shares trading well under book. HTS would do well to declare a buyback like NLY. - View all 1 replies
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LATEST REPLIES
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Ron Reed: At some point it will, the big question is when. I'm not worried for the next three quarters, I'll re-evaul. then and as time goes on
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FREDDESAIN: Mr. Reed is correct about the reiterated rate cut warnings. These stocks are not $TSLA. I'm staying put for the long term.
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DaLatin: They cut. ARR has 3 cuts in a row. or is it 4. From 11 to 7/month. Not hedged agaist rate increases.Good thing Ben will let Yellen hike !
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Patrick Harden
Huge book value growth at Hatteras - shares trading well under book. HTS would do well to declare a buyback like NLY. - View all 1 replies
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Patrick Harden
Hatteras Financial (HTS) Q2 results largely in-line. Premium amortization expense a concern, as well as narrowing spreads. - View all 3 replies
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Patrick Harden: I'd keep it - they have lots of portfolio gains available to support the dividend for several quarters.
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DaLatin: gracias.Just worried Ben is being pushed ! & he said his only tool beside b/sing & more twisting is buying mortgage paper.Not enough 4 all !
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Marc Courtenay
It's hard not to be somewhat bullish on NLY and HTS as long as the Fed keeps the Mortgage-Backed Securities (MBS) and CDO market healthy. - View all 2 replies
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Paul Zimbardo
7 High-Dividend Stocks: Are They Safe? http://seekingalpha.com/a/6quf $AGNC $HTS $IVR $MO $PM $POR $TWO $T - View all 1 replies
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madav1138: Many articles saying the REIT market is stable for a minimum of next 2 years due to current gov conditions.
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