Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) Downgraded by Zacks Investment Research to Hold


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Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, 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 equities research analysts have also recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Hannon Armstrong Sustainable Infrastructure Capital from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, February 22nd. JPMorgan Chase & Co. dropped their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $74.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, March 8th. Morgan Stanley dropped their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 16th. Finally, BTIG Research lifted their price target on shares of Hannon Armstrong Sustainable Infrastructure Capital from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Hannon Armstrong Sustainable Infrastructure Capital currently has an average rating of “Buy” and a consensus target price of $57.33.

Hannon Armstrong Sustainable Infrastructure Capital stock traded up $1.80 during midday trading on Wednesday, hitting $53.62. 680,233 shares of the stock were exchanged, compared to its average volume of 769,480. Hannon Armstrong Sustainable Infrastructure Capital has a fifty-two week low of $24.76 and a fifty-two week high of $72.42. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 7.86 and a beta of 1.84. The stock’s 50-day simple moving average is $54.56 and its 200 day simple moving average is $55.82. The company has a current ratio of 34.85, a quick ratio of 34.85 and a debt-to-equity ratio of 1.99.

Hannon Armstrong Sustainable Infrastructure Capital (NYSE:HASI) last released its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Hannon Armstrong Sustainable Infrastructure Capital had a net margin of 58.73% and a return on equity of 9.07%. Equities analysts anticipate that Hannon Armstrong Sustainable Infrastructure Capital will post 1.28 EPS for the current fiscal year.

In related news, EVP Nathaniel Rose sold 10,000 shares of Hannon Armstrong Sustainable Infrastructure Capital stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $51.90, for a total value of $519,000.00. Following the completion of the transaction, the executive vice president now owns 185,507 shares in the company, valued at $9,627,813.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Eckel sold 50,000 shares of Hannon Armstrong Sustainable Infrastructure Capital stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $53.89, for a total transaction of $2,694,500.00. Following the completion of the transaction, the chief executive officer now owns 121,650 shares of the company’s stock, valued at approximately $6,555,718.50. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Hannon Armstrong Sustainable Infrastructure Capital by 4.5% in the fourth quarter. BlackRock Inc. now owns 6,356,336 shares of the real estate investment trust’s stock worth $403,180,000 after acquiring an additional 272,585 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,499,367 shares of the real estate investment trust’s stock worth $221,965,000 after buying an additional 24,502 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 59.9% during the 4th quarter. Handelsbanken Fonder AB now owns 1,900,156 shares of the real estate investment trust’s stock worth $120,527,000 after buying an additional 711,929 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Hannon Armstrong Sustainable Infrastructure Capital by 18.8% during the 4th quarter. Stifel Financial Corp now owns 1,003,964 shares of the real estate investment trust’s stock worth $63,681,000 after buying an additional 158,857 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Hannon Armstrong Sustainable Infrastructure Capital during the 4th quarter worth approximately $51,822,000. Institutional investors own 77.72% of the company’s stock.

About Hannon Armstrong Sustainable Infrastructure Capital

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 buildings or facilities 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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