Horizon Technology Finance Co. Plans Monthly Dividend of $0.11 (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Wednesday, July 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, August 15th. This represents a $1.32 dividend on an annualized basis and a yield of 11.18%. The ex-dividend date is Wednesday, July 17th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 91.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Horizon Technology Finance to earn $1.43 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 92.3%.

Horizon Technology Finance Stock Up 0.2 %

Shares of NASDAQ HRZN opened at $11.81 on Friday. Horizon Technology Finance has a 12-month low of $10.75 and a 12-month high of $13.73. The stock’s fifty day simple moving average is $11.56 and its two-hundred day simple moving average is $12.29.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The company had revenue of $28.18 million for the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a negative net margin of 12.40% and a positive return on equity of 17.98%. As a group, equities research analysts anticipate that Horizon Technology Finance will post 1.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group cut their price objective on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a research report on Monday, March 18th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th. Oppenheimer decreased their price objective on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, March 1st. Finally, B. Riley cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research report on Monday, January 8th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, Horizon Technology Finance presently has a consensus rating of “Hold” and an average target price of $10.38.

Insider Buying and Selling at Horizon Technology Finance

In related news, President Gerald A. Michaud acquired 3,650 shares of the stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the completion of the purchase, the president now owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

About Horizon Technology Finance

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.