Horizon Technology Finance Corporation (HRZN) to Issue Monthly Dividend of $0.11 on February 13th

Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a monthly dividend on Wednesday, October 22nd. Investors of record on Friday, January 16th will be given a dividend of 0.11 per share by the investment management company on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 19.8%. The ex-dividend date of this dividend is Friday, January 16th.

Horizon Technology Finance has increased its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a payout ratio of 114.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Stock Performance

Shares of HRZN opened at $6.66 on Wednesday. Horizon Technology Finance has a 1 year low of $5.70 and a 1 year high of $9.99. The firm has a fifty day moving average of $6.56 and a 200-day moving average of $6.82. The company has a market cap of $295.59 million, a price-to-earnings ratio of -9.94 and a beta of 0.98.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $26.32 million during the quarter, compared to the consensus estimate of $22.99 million. Horizon Technology Finance had a positive return on equity of 15.01% and a negative net margin of 24.19%. Analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Institutional Investors Weigh In On Horizon Technology Finance

Several hedge funds have recently bought and sold shares of HRZN. Tower Research Capital LLC TRC purchased a new stake in shares of Horizon Technology Finance in the second quarter valued at about $60,000. Allworth Financial LP purchased a new stake in Horizon Technology Finance during the 2nd quarter valued at about $73,000. Y Intercept Hong Kong Ltd purchased a new position in Horizon Technology Finance in the 2nd quarter worth about $77,000. Marshall Wace LLP bought a new stake in shares of Horizon Technology Finance during the 2nd quarter valued at $103,000. Finally, Virtu Financial LLC bought a new position in shares of Horizon Technology Finance during the 3rd quarter valued at approximately $119,000. 4.94% of the stock is currently owned by institutional investors and hedge funds.

About Horizon Technology Finance

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.