Horizon Technology Finance Corp (NASDAQ:HRZN) announced a monthly dividend on Wednesday, May 1st, Wall Street Journal reports. Shareholders of record on Wednesday, June 19th will be paid a dividend of 0.10 per share by the investment management company on Tuesday, July 16th. This represents a $1.20 annualized dividend and a yield of 10.27%. The ex-dividend date is Tuesday, June 18th.
Horizon Technology Finance has decreased its dividend payment by an average of 4.6% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 105.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of HRZN stock opened at $11.69 on Thursday. The stock has a market cap of $157.47 million, a PE ratio of 9.61 and a beta of 0.73. Horizon Technology Finance has a twelve month low of $10.00 and a twelve month high of $13.48.
Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm had revenue of $8.31 million for the quarter. Horizon Technology Finance had a net margin of 41.69% and a return on equity of 9.94%.
Several brokerages have recently weighed in on HRZN. National Securities reissued a “neutral” rating and set a $11.00 price target on shares of Horizon Technology Finance in a research report on Thursday, March 7th. Maxim Group boosted their price target on shares of Horizon Technology Finance from $12.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $11.88.
In other news, CEO Robert D. Jr. Pomeroy purchased 4,500 shares of the stock in a transaction dated Monday, May 13th. The shares were purchased at an average price of $11.70 per share, with a total value of $52,650.00. Following the transaction, the chief executive officer now owns 86,077 shares in the company, valued at approximately $1,007,100.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.
Horizon Technology Finance Company Profile
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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