Horizon Technology Finance Co. (NASDAQ:HRZN) Raises Dividend to $0.11 Per Share

Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) declared a dividend on Sunday, September 17th, investing.com reports. Investors of record on Tuesday, September 19th will be paid a dividend of 0.11 per share by the investment management company on Monday, October 16th. This represents a yield of 10.86%. The ex-dividend date of this dividend is Monday, September 18th. This is a boost from Horizon Technology Finance’s previous dividend of $0.10.

Horizon Technology Finance has increased its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 1 years. Horizon Technology Finance has a dividend payout ratio of 80.0% indicating that 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 $1.68 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 78.6%.

Horizon Technology Finance Trading Down 0.6 %

Shares of Horizon Technology Finance stock traded down $0.07 during trading on Friday, reaching $12.15. The stock had a trading volume of 367,408 shares, compared to its average volume of 262,920. The company has a market capitalization of $390.06 million, a price-to-earnings ratio of 20.95 and a beta of 1.16. The stock has a fifty day moving average price of $12.37 and a two-hundred day moving average price of $12.03. Horizon Technology Finance has a 52 week low of $9.67 and a 52 week high of $13.45.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last announced its earnings results on Tuesday, August 1st. The investment management company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Horizon Technology Finance had a return on equity of 15.64% and a net margin of 15.09%. The business had revenue of $28.12 million for the quarter, compared to analyst estimates of $26.23 million. On average, equities analysts forecast that Horizon Technology Finance will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on HRZN shares. Oppenheimer restated a “market perform” rating and set a $12.00 target price on shares of Horizon Technology Finance in a report on Thursday, August 3rd. StockNews.com started coverage on shares of Horizon Technology Finance in a research note on Thursday, August 17th. They set a “sell” rating for the company. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a report on Friday, August 4th. Finally, TheStreet lowered Horizon Technology Finance from a “b-” rating to a “c” rating in a report on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Horizon Technology Finance currently has a consensus rating of “Hold” and a consensus price target of $11.20.

Read Our Latest Analysis on Horizon Technology Finance

Institutional Investors Weigh In On Horizon Technology Finance

A number of institutional investors and hedge funds have recently modified their holdings of HRZN. Osaic Holdings Inc. grew its holdings in Horizon Technology Finance by 24.5% during the second quarter. Osaic Holdings Inc. now owns 37,581 shares of the investment management company’s stock worth $454,000 after purchasing an additional 7,403 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Horizon Technology Finance by 3.5% during the 2nd quarter. Wells Fargo & Company MN now owns 35,289 shares of the investment management company’s stock worth $426,000 after acquiring an additional 1,182 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Horizon Technology Finance during the 2nd quarter worth approximately $248,000. Royal Bank of Canada raised its stake in Horizon Technology Finance by 7.1% in the 2nd quarter. Royal Bank of Canada now owns 35,439 shares of the investment management company’s stock valued at $428,000 after acquiring an additional 2,353 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Horizon Technology Finance in the 2nd quarter valued at $169,000. 5.07% of the stock is owned by institutional investors.

Horizon Technology Finance Company Profile

(Get Free Report)

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, cleantech and sustainability industries.

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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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