Horizon Technology Finance Co. (NASDAQ:HRZN) Announces Monthly Dividend of $0.10

Horizon Technology Finance Co. (NASDAQ:HRZNGet Rating) declared a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Investors of record on Friday, June 17th will be given a dividend of 0.10 per share by the investment management company on Friday, July 15th. This represents a $1.20 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend is Thursday, June 16th.

Horizon Technology Finance has increased 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. 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%.

Shares of HRZN opened at $12.79 on Friday. The stock has a market cap of $306.70 million, a PE ratio of 10.31 and a beta of 1.01. Horizon Technology Finance has a 1 year low of $11.62 and a 1 year high of $19.08. The stock has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $15.48.

Horizon Technology Finance (NASDAQ:HRZNGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm earned $0.31 earnings per share. As a group, analysts anticipate that Horizon Technology Finance will post 1.35 earnings per share for the current fiscal year.

A number of equities analysts have commented on HRZN shares. Zacks Investment Research lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Friday, March 4th. StockNews.com assumed coverage on Horizon Technology Finance in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Compass Point upgraded Horizon Technology Finance from a “sell” rating to a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $16.25.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Horizon Technology Finance by 21.2% during the second quarter. Royal Bank of Canada now owns 5,214 shares of the investment management company’s stock worth $90,000 after acquiring an additional 913 shares during the last quarter. JPMorgan Chase & Co. increased its position in Horizon Technology Finance by 245,900.0% in the fourth quarter. JPMorgan Chase & Co. now owns 7,380 shares of the investment management company’s stock worth $117,000 after purchasing an additional 7,377 shares during the period. Belpointe Asset Management LLC bought a new stake in Horizon Technology Finance during the 4th quarter worth about $203,000. LPL Financial LLC lifted its position in Horizon Technology Finance by 5.6% during the 3rd quarter. LPL Financial LLC now owns 16,894 shares of the investment management company’s stock valued at $275,000 after purchasing an additional 893 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of Horizon Technology Finance in the 4th quarter valued at about $290,000. Hedge funds and other institutional investors own 11.30% of the company’s stock.

About Horizon Technology Finance (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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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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