Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Thursday, July 30th, Wall Street Journal reports. Stockholders of record on Tuesday, October 20th will be given a dividend of 0.10 per share by the investment management company on Monday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Monday, October 19th.
Horizon Technology Finance has a payout ratio of 94.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Horizon Technology Finance to earn $1.25 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 96.0%.
NASDAQ:HRZN opened at $13.28 on Friday. The company has a fifty day moving average of $12.25 and a 200-day moving average of $11.02. The firm has a market capitalization of $229.65 million, a P/E ratio of 10.54 and a beta of 1.08. Horizon Technology Finance has a twelve month low of $4.51 and a twelve month high of $13.78.
HRZN has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. National Securities began coverage on shares of Horizon Technology Finance in a research note on Wednesday, September 23rd. They set a “neutral” rating for the company. TheStreet upgraded shares of Horizon Technology Finance from a “c+” rating to a “b-” rating in a research note on Thursday, August 20th. Finally, ValuEngine upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Horizon Technology Finance presently has an average rating of “Hold” and a consensus price target of $10.83.
About Horizon Technology Finance
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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