Friedman Billings Initiates Coverage Hatteras Financial (HTS) with a Outperform

July 2, 2008 10:13 AM EDT

Friedman Billings initiates coverage Hatteras Financial (NYSE: HTS) with a Outperform. Price target $35.

Hatteras Financial Corp. is an externally managed mortgage real estate investment trust (REIT) formed to invest in adjustable-rate and hybrid adjustable-rate single-family residential mortgage pass-through securities guaranteed by a United States Government agency (such as the Government National Mortgage Association (Ginnie Mae)), or issued by a United States Government-sponsored entity (such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)).


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