Zacks Investment Research upgraded shares of Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE:HASI) from a strong sell rating to a hold rating in a report published on Wednesday.

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 brokerages have also issued reports on HASI. Barclays PLC began coverage on Hannon Armstrong Sustainable Infrastructure Capital in a research note on Thursday, September 8th. They set an overweight rating and a $27.00 price target for the company. Robert W. Baird set a $27.00 price target on Hannon Armstrong Sustainable Infrastructure Capital and gave the stock a buy rating in a research note on Wednesday, September 21st. FBR & Co reaffirmed a buy rating and set a $26.00 price target on shares of Hannon Armstrong Sustainable Infrastructure Capital in a research note on Friday, August 5th. Finally, Wells Fargo & Co. reaffirmed a buy rating on shares of Hannon Armstrong Sustainable Infrastructure Capital in a research note on Wednesday, July 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Hannon Armstrong Sustainable Infrastructure Capital currently has a consensus rating of Buy and a consensus target price of $25.86.

Analyst Recommendations for Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI)

Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) traded up 0.051% during mid-day trading on Wednesday, reaching $21.641. The company had a trading volume of 17,165 shares. The stock has a 50-day moving average of $23.38 and a 200 day moving average of $21.39. The company has a market capitalization of $908.60 million, a price-to-earnings ratio of 79.562 and a beta of 1.09. Hannon Armstrong Sustainable Infrastructure Capital has a 12-month low of $15.46 and a 12-month high of $25.21.

Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Hannon Armstrong Sustainable Infrastructure Capital had a return on equity of 8.10% and a net margin of 30.45%. The firm earned $21.85 million during the quarter, compared to analyst estimates of $9.27 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 62.2% compared to the same quarter last year. On average, analysts expect that Hannon Armstrong Sustainable Infrastructure Capital will post $1.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, October 5th will be given a $0.30 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.55%. Hannon Armstrong Sustainable Infrastructure Capital’s dividend payout ratio is currently 413.81%.

In other news, CFO J Brendan Herron sold 15,590 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $23.55, for a total value of $367,144.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of HASI. Wellington Management Group LLP boosted its stake in shares of Hannon Armstrong Sustainable Infrastructure Capital by 6.6% in the first quarter. Wellington Management Group LLP now owns 3,371,745 shares of the company’s stock worth $64,806,000 after buying an additional 209,491 shares in the last quarter. BlackRock Fund Advisors boosted its position in Hannon Armstrong Sustainable Infrastructure Capital by 19.6% in the second quarter. BlackRock Fund Advisors now owns 1,810,386 shares of the company’s stock valued at $39,104,000 after buying an additional 296,864 shares during the period. Neumeier Poma Investment Counsel LLC boosted its position in Hannon Armstrong Sustainable Infrastructure Capital by 5.1% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 1,454,410 shares of the company’s stock valued at $31,415,000 after buying an additional 71,050 shares during the period. Vanguard Group Inc. boosted its position in Hannon Armstrong Sustainable Infrastructure Capital by 17.7% in the second quarter. Vanguard Group Inc. now owns 1,451,207 shares of the company’s stock valued at $31,346,000 after buying an additional 217,732 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Hannon Armstrong Sustainable Infrastructure Capital by 12.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 757,018 shares of the company’s stock valued at $16,352,000 after buying an additional 84,406 shares during the period. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

About Hannon Armstrong Sustainable Infrastructure Capital

Hannon Armstrong Sustainable Infrastructure Capital, Inc provides debt and equity financing to the energy efficiency and renewable energy markets. The Company originates its transactions primarily through programmatic finance relationships with global energy service companies. It also originates transactions with renewable energy manufacturers, developers and operators, and other companies, which own and operate renewable energy projects, including various utility companies of the United States.

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