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Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) declared a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Investors of record on Tuesday, July 19th will be paid a dividend of 0.10 per share by the investment management company on Tuesday, August 16th. This represents a $1.20 annualized dividend and a yield of 9.38%. The ex-dividend date is Monday, July 18th.
Horizon Technology Finance has increased its dividend by an average of 1.4% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 83.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Horizon Technology Finance to earn $1.41 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 85.1%.
HRZN stock opened at $12.79 on Friday. The firm has a market cap of $306.70 million, a P/E ratio of 10.31 and a beta of 1.01. The firm’s fifty day moving average is $13.97 and its 200 day moving average is $15.48. Horizon Technology Finance has a 52 week low of $11.62 and a 52 week high of $19.08.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). Horizon Technology Finance had a net margin of 41.45% and a return on equity of 11.85%. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, equities analysts predict that Horizon Technology Finance will post 1.35 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Horizon Technology Finance by 21.2% in the 2nd quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock worth $90,000 after buying an additional 913 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Horizon Technology Finance by 245,900.0% during the fourth quarter. JPMorgan Chase & Co. now owns 7,380 shares of the investment management company’s stock valued at $117,000 after acquiring an additional 7,377 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in Horizon Technology Finance in the fourth quarter worth $203,000. LPL Financial LLC boosted its holdings in Horizon Technology Finance by 5.6% in the third quarter. LPL Financial LLC now owns 16,894 shares of the investment management company’s stock valued at $275,000 after acquiring an additional 893 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in Horizon Technology Finance during the 4th quarter valued at $290,000. Institutional investors and hedge funds own 11.30% of the company’s stock.
Several research firms recently issued reports on HRZN. StockNews.com initiated coverage on Horizon Technology Finance in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Compass Point raised shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Friday, March 4th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.25.
Horizon Technology Finance Company Profile (Get Rating)
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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