Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) announced a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Investors of record on Friday, June 17th will be paid a dividend of 0.10 per share by the investment management company on Friday, July 15th. This represents a $1.20 dividend on an annualized basis and a yield of 9.38%. The ex-dividend date is Thursday, June 16th.
Horizon Technology Finance has raised its dividend by an average of 1.4% annually over the last three years. Horizon Technology Finance has a payout ratio of 83.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 opened at $12.79 on Friday. Horizon Technology Finance has a one year low of $11.62 and a one year high of $19.08. The stock has a market capitalization of $306.70 million, a P/E ratio of 10.31 and a beta of 1.01. The business’s 50-day simple moving average is $13.97 and its 200-day simple moving average is $15.48.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). Horizon Technology Finance had a return on equity of 11.85% and a net margin of 41.45%. During the same period last year, the business posted $0.31 EPS. As a group, equities research analysts forecast that Horizon Technology Finance will post 1.35 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on HRZN. StockNews.com initiated coverage on shares of Horizon Technology Finance in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research downgraded Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. Finally, Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and a consensus price target of $16.25.
Large investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Horizon Technology Finance by 21.2% during the 2nd quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock valued at $90,000 after acquiring an additional 913 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Horizon Technology Finance by 245,900.0% during the 4th quarter. JPMorgan Chase & Co. now owns 7,380 shares of the investment management company’s stock valued at $117,000 after purchasing an additional 7,377 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Horizon Technology Finance in the fourth quarter valued at approximately $203,000. LPL Financial LLC grew its holdings in Horizon Technology Finance by 5.6% in the 3rd quarter. LPL Financial LLC now owns 16,894 shares of the investment management company’s stock worth $275,000 after buying an additional 893 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake 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.
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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