Zacks Investment Research Downgrades Hannon Armstrong Sustnbl Infrstr Cap (NYSE:HASI) to Hold

Zacks Investment Research cut shares of Hannon Armstrong Sustnbl Infrstr Cap (NYSE:HASI) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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 research analysts have also recently issued reports on the company. Morgan Stanley upped their price objective on Hannon Armstrong Sustnbl Infrstr Cap from $26.00 to $28.00 and gave the stock an equal weight rating in a research report on Friday, July 17th. BTIG Research began coverage on Hannon Armstrong Sustnbl Infrstr Cap in a research report on Monday, June 15th. They set a buy rating and a $40.00 price objective for the company. Robert W. Baird reissued a buy rating and issued a $34.00 target price on shares of Hannon Armstrong Sustnbl Infrstr Cap in a report on Thursday, July 2nd. B. Riley began coverage on Hannon Armstrong Sustnbl Infrstr Cap in a report on Friday, June 12th. They issued a buy rating and a $39.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Hannon Armstrong Sustnbl Infrstr Cap from $39.00 to $41.00 and gave the company an overweight rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Hannon Armstrong Sustnbl Infrstr Cap presently has an average rating of Buy and an average target price of $36.22.

NYSE:HASI opened at $35.03 on Wednesday. The stock has a 50-day simple moving average of $30.46 and a 200-day simple moving average of $29.74. The stock has a market cap of $2.57 billion, a P/E ratio of 26.74, a P/E/G ratio of 7.05 and a beta of 1.53. Hannon Armstrong Sustnbl Infrstr Cap has a 1 year low of $15.01 and a 1 year high of $39.91. The company has a debt-to-equity ratio of 1.39, a quick ratio of 26.82 and a current ratio of 26.82.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.88%. The ex-dividend date was Wednesday, July 1st. Hannon Armstrong Sustnbl Infrstr Cap’s dividend payout ratio is presently 115.25%.

In other Hannon Armstrong Sustnbl Infrstr Cap news, EVP J Brendan Herron sold 19,750 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $27.75, for a total transaction of $548,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nathaniel Rose sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $29.03, for a total value of $290,300.00. Following the sale, the executive vice president now directly owns 216,922 shares of the company’s stock, valued at $6,297,245.66. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Hannon Armstrong Sustnbl Infrstr Cap by 5.0% during the 1st quarter. Invesco Ltd. now owns 944,206 shares of the real estate investment trust’s stock worth $19,271,000 after purchasing an additional 44,984 shares during the period. Arizona State Retirement System acquired a new position in Hannon Armstrong Sustnbl Infrstr Cap during the 1st quarter worth approximately $315,000. BNP Paribas Arbitrage SA increased its position in Hannon Armstrong Sustnbl Infrstr Cap by 31.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 19,902 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 4,707 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Hannon Armstrong Sustnbl Infrstr Cap during the 2nd quarter worth approximately $2,082,000. Finally, Rhumbline Advisers increased its position in Hannon Armstrong Sustnbl Infrstr Cap by 8.4% during the 1st quarter. Rhumbline Advisers now owns 116,389 shares of the real estate investment trust’s stock worth $2,375,000 after purchasing an additional 9,068 shares during the period. Institutional investors own 75.97% of the company’s stock.

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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