Horizon Technology Finance Co. (NASDAQ:HRZN) to Issue $0.10 Monthly Dividend

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Thursday, July 29th, Wall Street Journal reports. Shareholders of record on Friday, September 17th will be given a dividend of 0.10 per share by the investment management company on Friday, October 15th. This represents a $1.20 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend is Thursday, September 16th.

Horizon Technology Finance has a dividend payout ratio of 94.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Horizon Technology Finance to earn $1.34 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 89.6%.

NASDAQ HRZN opened at $16.77 on Wednesday. Horizon Technology Finance has a 52 week low of $11.03 and a 52 week high of $17.95. The stock has a market capitalization of $335.57 million, a PE ratio of 28.42 and a beta of 1.08. The firm has a 50 day moving average of $17.15 and a two-hundred day moving average of $16.34.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Monday, July 26th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Horizon Technology Finance had a net margin of 24.23% and a return on equity of 10.18%. The business had revenue of $13.49 million during the quarter, compared to analysts’ expectations of $12.67 million. Sell-side analysts predict that Horizon Technology Finance will post 1.25 earnings per share for the current year.

Separately, Zacks Investment Research cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.88.

An institutional investor recently raised its position in Horizon Technology Finance stock. Morgan Stanley boosted its holdings in Horizon Technology Finance Co. (NASDAQ:HRZN) by 36.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,523 shares of the investment management company’s stock after purchasing an additional 9,507 shares during the quarter. Morgan Stanley owned about 0.18% of Horizon Technology Finance worth $614,000 at the end of the most recent quarter. 9.95% of the stock is owned by hedge funds and other institutional investors.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corp. operates as a finance company. The firm engages in the provision of capital in the form of secured loans to venture capital backed companies. It also involves in lending and investing in portfolio companies in 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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