Shares of Hannon Armstrong Sustnbl Infrstr Cap Inc (NYSE:HASI) fell 0% during trading on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The stock traded as low as $17.51 and last traded at $18.50. 2,860,000 shares changed hands during mid-day trading, an increase of 613% from the average session volume of 400,960 shares. The stock had previously closed at $18.50.
Several other brokerages have also recently commented on HASI. Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hannon Armstrong Sustnbl Infrstr Cap in a research note on Thursday, September 28th. BidaskClub upgraded shares of Hannon Armstrong Sustnbl Infrstr Cap from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Oppenheimer lifted their target price on shares of Hannon Armstrong Sustnbl Infrstr Cap from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of Hannon Armstrong Sustnbl Infrstr Cap in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.90.
In other Hannon Armstrong Sustnbl Infrstr Cap news, CFO J Brendan Herron sold 11,063 shares of Hannon Armstrong Sustnbl Infrstr Cap stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $23.96, for a total transaction of $265,069.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. grew its holdings in shares of Hannon Armstrong Sustnbl Infrstr Cap by 8.5% during the second quarter. Advisor Group Inc. now owns 4,444 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 350 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Hannon Armstrong Sustnbl Infrstr Cap during the fourth quarter worth about $149,000. AllSquare Wealth Management LLC purchased a new stake in shares of Hannon Armstrong Sustnbl Infrstr Cap during the fourth quarter worth about $171,000. Stifel Financial Corp purchased a new stake in shares of Hannon Armstrong Sustnbl Infrstr Cap during the third quarter worth about $222,000. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in shares of Hannon Armstrong Sustnbl Infrstr Cap during the third quarter worth about $231,000. Institutional investors and hedge funds own 72.70% of the company’s stock.
The stock has a market capitalization of $996.07, a price-to-earnings ratio of 32.36, a P/E/G ratio of 1.43 and a beta of 0.77. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.74 and a quick ratio of 2.74.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Wednesday, April 4th will be issued a dividend of $0.33 per share. The ex-dividend date is Tuesday, April 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.03%. Hannon Armstrong Sustnbl Infrstr Cap’s dividend payout ratio (DPR) is presently 227.59%.
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About Hannon Armstrong Sustnbl Infrstr Cap
Hannon Armstrong Sustainable Infrastructure Capital, Inc makes debt and equity investments in sustainable infrastructure, including energy efficiency and renewable energy. The Company focuses on providing preferred or senior level capital to sponsors and obligors for assets that generate long-term, recurring and predictable cash flows.
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