KBW Maintains Outperform Rating On HTS

Yesterday Hatteras Financial Corp. HTS announced the closing of its equity offering, KBW reports. “Including the overallotment, the company issued 11.5 million shares and generated net proceeds of $326 million.” KBW writes. “The deal resulted in equity at Hatteras increasing by 27%. The deal is modestly accretive to earnings but adds meaningfully to book value (we estimate $0.71 a share). Our 2011E goes to $4.35 from $4.32. We maintain our Outperform rating.” Hatteras Financial currently trades at $29.11.