We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Annaly Capital Management Inc (NLY) - $25 value - yours FREE >>
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) - $25 value - yours FREE >>
Altisource Portfolio Solutions S.A. (ASPS) - $25 value - yours FREE >>
Image: Bigstock
Annaly (NLY) Extends Exchange Offer for Acquiring Hatteras
Annaly Capital Management, Inc. (NLY - Free Report) , the New York-based mortgage real estate investment trust (“mREIT”) has made the announcement of extending its previously announced exchange offer for the purchase of Winston Salem, NC–based mREIT, Hatteras Financial Corp.’s outstanding shares. The extension of the offer has been made so as to obtain the remaining regulatory approvals which are essential for its completion. The exchange offer will now expire on Jul 11, 2016, unless extended further per the merger deal. The parties involved expect to get the regulatory nod by the extended time.
Notably, in Apr 2016, Annaly and Hatteras had inked a merger deal under which the former will acquire the latter for $1.5 billion. This strategic deal is likely to be beneficial for shareholders of both the companies and is expected to close by the end of third-quarter 2016 (Read more: Annaly Inks Deal to Acquire Hatteras Financial for $1.5B).
Annaly primarily owns, manages and finances a portfolio of real estate related investment securities. Its investment portfolio includes agency MBS, agency pass-through certificates, collateralized mortgage obligations (CMOs), interest-only securities and inverse floaters. Annaly reported first-quarter 2016 normalized core earnings of 30 cents per share, down from 34 cents earned in the year-ago quarter. The Zacks Consensus Estimate for the first-quarter earnings was pegged at 32 cents.
ANNALY CAP MGMT Price
ANNALY CAP MGMT Price | ANNALY CAP MGMT Quote
Currently, while Annaly carries a Zacks Rank #3 (Hold), Hatteras Financial holds a Zacks Rank #4 (Sell). Investors interested in the mREIT industry may consider stocks like Altisource Portfolio Solutions S.A. (ASPS - Free Report) and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>