Zacks Investment Research upgraded shares of Hannon Armstrong Sustnbl Infrstr Cap (NYSE:HASI) from a sell rating to a buy rating in a research note published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $32.00 target price on the real estate investment trust’s stock.
According to Zacks, “Hannon Armstrong Sustainable Infrastructure Capital, Inc. is a real estate investment trust. The Company provides debt and equity financing for infrastructure projects. Its infrastructure projects include Energy Efficiency Projects, Clean Energy Projects and Other Sustainable Infrastructure Projects. The company serves federal, state and local governments, commercial, utility, and industrial markets. Hannon Armstrong Sustainable Infrastructure Capital, Inc. is based in Annapolis, Maryland. “
Several other analysts have also recently commented on the company. B. Riley reissued a buy rating and issued a $3.50 price target on shares of Plug Power in a report on Thursday, March 14th. Roth Capital set a $24.00 price objective on Lydall and gave the stock a hold rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Hannon Armstrong Sustnbl Infrstr Cap currently has an average rating of Buy and an average target price of $27.00.
Shares of HASI opened at $28.05 on Wednesday. Hannon Armstrong Sustnbl Infrstr Cap has a twelve month low of $18.83 and a twelve month high of $28.67. The firm has a 50 day simple moving average of $27.19. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 10.76 and a beta of 1.04. The company has a debt-to-equity ratio of 1.48, a current ratio of 29.45 and a quick ratio of 29.45.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, July 5th were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Wednesday, July 3rd. Hannon Armstrong Sustnbl Infrstr Cap’s dividend payout ratio (DPR) is 112.61%.
In related news, insider Jeffrey Eckel bought 985 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of $26.82 per share, with a total value of $26,417.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nathaniel Rose sold 10,000 shares of Hannon Armstrong Sustnbl Infrstr Cap stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $26.37, for a total transaction of $263,700.00. Following the sale, the executive vice president now owns 290,654 shares of the company’s stock, valued at $7,664,545.98. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in HASI. Norges Bank acquired a new stake in shares of Hannon Armstrong Sustnbl Infrstr Cap in the 4th quarter worth approximately $11,366,000. Two Sigma Investments LP purchased a new stake in Hannon Armstrong Sustnbl Infrstr Cap during the fourth quarter worth $4,706,000. Bank of New York Mellon Corp boosted its position in Hannon Armstrong Sustnbl Infrstr Cap by 57.7% during the fourth quarter. Bank of New York Mellon Corp now owns 378,377 shares of the real estate investment trust’s stock worth $7,208,000 after purchasing an additional 138,457 shares in the last quarter. BlackRock Inc. grew its holdings in Hannon Armstrong Sustnbl Infrstr Cap by 2.8% in the fourth quarter. BlackRock Inc. now owns 4,876,481 shares of the real estate investment trust’s stock valued at $92,895,000 after purchasing an additional 132,869 shares during the last quarter. Finally, 361 Capital LLC acquired a new stake in Hannon Armstrong Sustnbl Infrstr Cap in the first quarter valued at $2,966,000. 71.48% of the stock is currently owned by institutional investors and hedge funds.
About Hannon Armstrong Sustnbl Infrstr Cap
Hannon Armstrong Sustainable Infrastructure Capital, Inc provides capital and services to the energy efficiency, renewable energy, and other sustainable infrastructure markets in the United States. The company's projects include energy efficiency projects that reduce a building's or facility's energy usage or cost through the use of solar generation, including heating, ventilation, and air conditioning systems, as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems.
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