Hannon Armstrong Sustnbl Infrstr Cap (NYSE:HASI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Hannon Armstrong Sustnbl Infrstr Cap (NYSE:HASI) from a sell rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The brokerage currently has $32.00 price objective on the real estate investment trust’s stock.

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. “

A number of other analysts have also issued reports on the company. Roth Capital set a $24.00 target price on Lydall and gave the company a hold rating in a report on Thursday, May 2nd. B. Riley reaffirmed a buy rating and issued a $3.50 target price on shares of Plug Power in a report on Thursday, March 14th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Hannon Armstrong Sustnbl Infrstr Cap has a consensus rating of Buy and an average price target of $27.00.

Shares of NYSE HASI opened at $28.05 on Wednesday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 10.76 and a beta of 1.04. The firm’s 50-day moving average is $27.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 29.45 and a current ratio of 29.45. Hannon Armstrong Sustnbl Infrstr Cap has a 52 week low of $18.83 and a 52 week high of $28.67.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, July 5th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Wednesday, July 3rd. Hannon Armstrong Sustnbl Infrstr Cap’s payout ratio is presently 112.61%.

In other news, insider Jeffrey Eckel acquired 985 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were bought at an average price of $26.82 per share, with a total value of $26,417.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Daniel K. Mcmahon sold 5,000 shares of Hannon Armstrong Sustnbl Infrstr Cap stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $26.00, for a total value of $130,000.00. Following the sale, the executive vice president now directly owns 238,233 shares in the company, valued at approximately $6,194,058. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Hannon Armstrong Sustnbl Infrstr Cap by 2.8% during the 4th quarter. BlackRock Inc. now owns 4,876,481 shares of the real estate investment trust’s stock worth $92,895,000 after buying an additional 132,869 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of Hannon Armstrong Sustnbl Infrstr Cap by 2.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 861,443 shares of the real estate investment trust’s stock worth $16,411,000 after buying an additional 17,716 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Hannon Armstrong Sustnbl Infrstr Cap by 2.0% during the 1st quarter. Handelsbanken Fonder AB now owns 770,702 shares of the real estate investment trust’s stock worth $19,761,000 after buying an additional 15,245 shares during the period. Geode Capital Management LLC lifted its position in shares of Hannon Armstrong Sustnbl Infrstr Cap by 22.0% during the 4th quarter. Geode Capital Management LLC now owns 635,024 shares of the real estate investment trust’s stock worth $12,096,000 after buying an additional 114,362 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Hannon Armstrong Sustnbl Infrstr Cap by 1.0% during the 4th quarter. Northern Trust Corp now owns 619,679 shares of the real estate investment trust’s stock worth $11,805,000 after buying an additional 6,363 shares during the period. 71.48% of the stock is currently owned by institutional investors.

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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