Horizon Technology Finance Corp (NASDAQ:HRZN) declared a monthly dividend on Thursday, July 30th, Wall Street Journal reports. Investors of record on Thursday, September 17th will be paid a dividend of 0.10 per share by the investment management company on Friday, October 16th. This represents a $1.20 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Wednesday, September 16th.
Horizon Technology Finance has decreased its dividend payment by an average of 12.1% annually over the last three years. Horizon Technology Finance has a payout ratio of 104.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Horizon Technology Finance to earn $1.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 97.6%.
Shares of HRZN opened at $11.72 on Friday. Horizon Technology Finance has a 12 month low of $4.51 and a 12 month high of $13.78. The firm has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $10.91. The stock has a market capitalization of $201.99 million, a price-to-earnings ratio of 7.74 and a beta of 1.08.
Several brokerages recently commented on HRZN. Maxim Group restated a “buy” rating and set a $12.00 target price on shares of Horizon Technology Finance in a report on Tuesday, May 5th. Aegis dropped their price target on shares of Horizon Technology Finance from $13.20 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Zacks Investment Research raised shares of Horizon Technology Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. B. Riley increased their price objective on shares of Horizon Technology Finance from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, ValuEngine lowered shares of Horizon Technology Finance from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Horizon Technology Finance presently has an average rating of “Hold” and an average target price of $11.00.
In other Horizon Technology Finance news, President Gerald A. Michaud purchased 14,900 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were acquired at an average cost of $11.70 per share, with a total value of $174,330.00. Also, CEO Robert D. Jr. Pomeroy purchased 10,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $11.69 per share, for a total transaction of $116,900.00. 1.60% of the stock is owned by corporate insiders.
Horizon Technology Finance Company Profile
Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries.
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