Principal Financial Group Inc. Lowers Stake in Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI)

Principal Financial Group Inc. decreased its position in Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 548,720 shares of the real estate investment trust’s stock after selling 12,120 shares during the quarter. Principal Financial Group Inc.’s holdings in Hannon Armstrong Sustainable Infrastructure Capital were worth $18,914,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HASI. Franklin Resources Inc. lifted its stake in Hannon Armstrong Sustainable Infrastructure Capital by 3.1% during the 3rd quarter. Franklin Resources Inc. now owns 379,832 shares of the real estate investment trust’s stock worth $13,298,000 after acquiring an additional 11,254 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Hannon Armstrong Sustainable Infrastructure Capital in the third quarter valued at approximately $73,000. Geode Capital Management LLC grew its holdings in shares of Hannon Armstrong Sustainable Infrastructure Capital by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,636,884 shares of the real estate investment trust’s stock valued at $90,912,000 after purchasing an additional 53,799 shares in the last quarter. Barclays PLC increased its stake in Hannon Armstrong Sustainable Infrastructure Capital by 1.5% during the 3rd quarter. Barclays PLC now owns 476,940 shares of the real estate investment trust’s stock worth $16,441,000 after buying an additional 6,911 shares during the period. Finally, MML Investors Services LLC purchased a new position in Hannon Armstrong Sustainable Infrastructure Capital in the 3rd quarter valued at approximately $352,000. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hannon Armstrong Sustainable Infrastructure Capital news, CFO Marc T. Pangburn acquired 3,500 shares of the stock in a transaction on Monday, November 11th. The shares were bought at an average cost of $28.71 per share, with a total value of $100,485.00. Following the transaction, the chief financial officer now owns 56,791 shares of the company’s stock, valued at approximately $1,630,469.61. This trade represents a 6.57 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HASI shares. The Goldman Sachs Group reduced their price objective on Hannon Armstrong Sustainable Infrastructure Capital from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Bank of America initiated coverage on Hannon Armstrong Sustainable Infrastructure Capital in a research report on Monday, November 25th. They issued a “buy” rating and a $40.00 price target on the stock. Citigroup boosted their price objective on Hannon Armstrong Sustainable Infrastructure Capital from $24.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Hannon Armstrong Sustainable Infrastructure Capital from $36.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group initiated coverage on shares of Hannon Armstrong Sustainable Infrastructure Capital in a report on Wednesday, September 4th. They set a “buy” rating and a $39.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.50.

Hannon Armstrong Sustainable Infrastructure Capital Stock Performance

Shares of HASI stock opened at $27.62 on Friday. The stock’s 50-day moving average is $30.79 and its two-hundred day moving average is $31.70. The company has a debt-to-equity ratio of 1.78, a quick ratio of 13.55 and a current ratio of 13.55. Hannon Armstrong Sustainable Infrastructure Capital, Inc. has a 1 year low of $21.77 and a 1 year high of $36.56. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.24 and a beta of 1.93.

Hannon Armstrong Sustainable Infrastructure Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Monday, December 30th will be paid a dividend of $0.415 per share. The ex-dividend date is Monday, December 30th. This represents a $1.66 dividend on an annualized basis and a yield of 6.01%. Hannon Armstrong Sustainable Infrastructure Capital’s dividend payout ratio is presently 93.26%.

About Hannon Armstrong Sustainable Infrastructure Capital

Hannon Armstrong Sustainable Infrastructure Capital, Inc, through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities.