Stock Alert: Hannon Armstrong (HASI) Hits All-Time High

(RTTNews) - Shares of Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) touched an all-time high of $31.43 on December 16, and closed Monday's trading session at $31.40, up 24 cents or 0.77%. Hannon is the first U.S. public company solely dedicated to investments in climate change solutions.

Highlights

* Diversity of Markets Provides Strong Pipeline for $1 Bln Annual Investment Target.

* Increasing Portfolio Yield along with Lower Leverage Produces Growth in Net Investment Income.

* Delivering Core ROE at or above 10%.

* 4.6% dividend yield exceeds that of Utilities (2.8%), Selected Peers (3.4%) and REITs (4.0%).

* Core earnings growth guidance at 2% - 6%

Q3 Results

The company's Q3 net income attributable to controlling stockholders was $9.10 million or $0.13 per share versus $16.5 million or $0.30 per share last year.

Core earnings amounted to $25.3 million or $0.38 per share, higher than the previous year's earnings of $19.6 million or $0.36 per share.

Revenue increased 10% to $38.8 million from $35.4 million generated a year ago.

The company noted that 37% YoY growth in net investment income reflects improvement in portfolio yield and lower leverage.

Further, the company said it is on track to close over $1 billion of transactions in 2019. Hannon closed $287 million of transactions in the third quarter and $810 million of transactions year to date in 2019.

Reiterates 3-year compounded Core EPS guidance

Hannon Armstrong confirmed its previously issued three-year core earnings growth guidance from 2018 to 2020, on a compounded annual basis over the three years, in the 2% - 6% range, equivalent to $1.37 at the midpoint in 2019 and $1.43 at the midpoint in 2020.

Recent Happenings

Dec. 13, the company's Board declared a quarterly cash dividend of $0.335 per share of common stock, payable on January 10, 2020, to stockholders of record on December 26, 2019.

Last month, Hannon Armstrong and Morgan Properties, a real estate investment and management company, announced a new joint venture to acquire the B-Piece from Freddie Mac's previously settled KG series focused on environmental and social impact, and part of Freddie Mac's flagship K-Deal program.