Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Stock Price Up 13% After Dividend Announcement

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) shares rose 13% on Wednesday following a dividend announcement from the company. The company traded as high as $29.69 and last traded at $29.59. Approximately 430,672 shares were traded during trading, a decline of 55% from the average daily volume of 964,458 shares. The stock had previously closed at $26.19.

The newly announced dividend which will be paid on Friday, July 12th. Shareholders of record on Wednesday, July 3rd will be given a $0.415 dividend. This represents a $1.66 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend is Wednesday, July 3rd. Hannon Armstrong Sustainable Infrastructure Capital’s dividend payout ratio (DPR) is 123.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Hannon Armstrong Sustainable Infrastructure Capital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. TheStreet raised Hannon Armstrong Sustainable Infrastructure Capital from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Bank of America raised their price objective on Hannon Armstrong Sustainable Infrastructure Capital from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. StockNews.com upgraded shares of Hannon Armstrong Sustainable Infrastructure Capital from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley raised their price objective on Hannon Armstrong Sustainable Infrastructure Capital from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.22.

Hannon Armstrong Sustainable Infrastructure Capital Stock Performance

The company has a quick ratio of 19.42, a current ratio of 19.42 and a debt-to-equity ratio of 1.98. The business has a 50 day simple moving average of $25.99 and a two-hundred day simple moving average of $24.69. The firm has a market cap of $3.49 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.99 and a beta of 1.88.

Institutional Investors Weigh In On Hannon Armstrong Sustainable Infrastructure Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC boosted its stake in Hannon Armstrong Sustainable Infrastructure Capital by 706.6% during the 3rd quarter. Manchester Capital Management LLC now owns 1,226 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,074 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Hannon Armstrong Sustainable Infrastructure Capital by 3,739.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,075 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,047 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 4th quarter worth approximately $34,000. Scarborough Advisors LLC acquired a new position in Hannon Armstrong Sustainable Infrastructure Capital during the fourth quarter worth approximately $40,000. Finally, Addison Advisors LLC boosted its stake in shares of Hannon Armstrong Sustainable Infrastructure Capital by 56.7% during the fourth quarter. Addison Advisors LLC now owns 1,970 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 713 shares during the period. 96.14% of the stock is currently owned by institutional investors and hedge funds.

About Hannon Armstrong Sustainable Infrastructure Capital

Hannon Armstrong Sustainable Infrastructure Capital, Inc, through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities.