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

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI)’s share price shot up 13% during trading on Wednesday after the company announced a dividend. The company traded as high as $29.69 and last traded at $29.59. 430,672 shares traded hands during trading, a decline of 55% from the average session 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. Stockholders of record on Wednesday, July 3rd will be issued a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Wednesday, July 3rd. Hannon Armstrong Sustainable Infrastructure Capital’s payout ratio is currently 123.88%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. B. Riley increased their target price on Hannon Armstrong Sustainable Infrastructure Capital from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. The Goldman Sachs Group raised their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Morgan Stanley increased their target price on shares of Hannon Armstrong Sustainable Infrastructure Capital from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. StockNews.com raised shares of Hannon Armstrong Sustainable Infrastructure Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, TheStreet raised shares of Hannon Armstrong Sustainable Infrastructure Capital from a “d+” rating to a “c” rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.22.

Hannon Armstrong Sustainable Infrastructure Capital Trading Up 17.1 %

The company has a current ratio of 19.42, a quick ratio of 19.42 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average price is $25.99 and its 200-day moving average price is $24.69. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 0.99 and a beta of 1.88.

Institutional Investors Weigh In On Hannon Armstrong Sustainable Infrastructure Capital

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Hannon Armstrong Sustainable Infrastructure Capital by 18.4% in the third quarter. Vanguard Group Inc. now owns 11,904,638 shares of the real estate investment trust’s stock valued at $252,378,000 after acquiring an additional 1,847,577 shares during the period. Norges Bank purchased a new stake in Hannon Armstrong Sustainable Infrastructure Capital during the fourth quarter valued at about $24,660,000. AGF Management Ltd. bought a new position in Hannon Armstrong Sustainable Infrastructure Capital in the fourth quarter worth about $17,171,000. Bank of New York Mellon Corp raised its stake in Hannon Armstrong Sustainable Infrastructure Capital by 146.3% during the third quarter. Bank of New York Mellon Corp now owns 1,016,525 shares of the real estate investment trust’s stock valued at $21,550,000 after buying an additional 603,743 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Hannon Armstrong Sustainable Infrastructure Capital by 44.9% during the 4th quarter. Van ECK Associates Corp now owns 1,883,537 shares of the real estate investment trust’s stock valued at $51,948,000 after buying an additional 583,665 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Hannon Armstrong Sustainable Infrastructure Capital Company Profile

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.