HASI Stock Overview
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
Hannon Armstrong Sustainable Infrastructure Capital Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$29.93|
|52 Week High||US$65.74|
|52 Week Low||US$28.67|
|1 Month Change||-20.99%|
|3 Month Change||-21.24%|
|1 Year Change||-45.42%|
|3 Year Change||4.87%|
|5 Year Change||25.65%|
|Change since IPO||162.54%|
Recent News & Updates
Hannon Armstrong: Shares Are A Value After Big 2022 Beating, Stock Near Support
Summary The mortgage and real estate market are in turmoil with a surge in mortgage rates. One small sustainable infrastructure capital REIT is now an attractive buy with a big dividend and solid growth prospects. Hannon Armstrong's chart suggests now could be a good time to scoop up shares. Mortgage REITs, like the rest of the broader market, are threatening the June lows. The iShares Mortgage Real Estate Capped ETF (REM) is down about 20% from its early August rebound high as surging interest rates pressure the space. Unsettling for the real estate and mortgage markets are no doubt extremely high borrowing rates, at 6.7% as of last Friday, and now falling home prices, according to Zillow (Z). One small-cap REIT that has solid expected earnings and dividend growth now looks like a decent value. Mortgage REITS Threaten the June Low Stockcharts.com Home Prices Now Falling: Zillow Zillow Mortgage Rates Jump Near 7% Mortgage News Daily According to Bank of America Global Research, Hannon Armstrong (HASI) is a specialty finance company based in MD that provides capital and advisory services to companies in the renewable energy (wind/solar), energy efficiency, and sustainable infra markets. The company's $3 billion portfolio of 200+ transactions include 50% behind-the-meter assets such as energy efficiency, distributed solar, and storage, 45% of GC (grid-connected) assets such as wind and solar, and 5% of other sustainable infrastructure investments. The Maryland-based $2.8 billion market cap Mortgage Real Estate Investment Trusts industry company stock within the Financials sector trades at a high 31.9 trailing 12-month price-to-earnings ratio and pays a high 4.7% dividend yield, according to The Wall Street Journal. Competition remains tight for HASI's operations which could hurt returns looking ahead. On the bullish side, new partnerships the firm is crafting may brighten the future prospects for deals - that's key given the current maturity wall of its portfolio. Perhaps the big macro risk is what's happening with interest rates with its asset/liability mix. On valuation, BofA sees earnings rising this year and accelerating into 2024. Dividends should thus increase nicely in the coming quarters. The Bloomberg consensus forecast shows about the same EPS growth. Still, its operating P/E ratio remains high but has pulled back hard since BofA's last update - about 17x using last Friday's closing price, declining to under 14x by 2024. Free cash flow is high continue paying out nice dividends. HASI Earnings, Dividends, And Valuation Forecasts BofA Global Research Looking ahead, Wall Street Horizon's corporate event data show a dividend ex-date of October 3. Hannon's Q3 earnings date is also unconfirmed for Thursday, November 3 after market close. Corporate Event Calendar Wall Street Horizon The Technical Take HASI's stock price has dropped by more than half of its early 2021 peak. The low $50s was a critical spot, and when shares broke that support, a swift move to the mid-$30s came about. The stock then rebounded to what had been support but failed at its new resistance during the first quarter of this year.
|HASI||US Mortgage REITs||US Market|
Return vs Industry: HASI underperformed the US Mortgage REITs industry which returned -42.4% over the past year.
Return vs Market: HASI underperformed the US Market which returned -23.2% over the past year.
|HASI Average Weekly Movement||9.4%|
|Mortgage REITs Industry Average Movement||5.3%|
|Market Average Movement||6.8%|
|10% most volatile stocks in US Market||15.5%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: HASI is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.
Volatility Over Time: HASI's weekly volatility (9%) has been stable over the past year.
About the Company
Hannon Armstrong Sustainable Infrastructure Capital, Inc. provides capital and services to the energy efficiency, renewable energy, and other sustainable infrastructure markets in the United States. The company’s projects include building or facility that reduce energy usage or cost through the use of solar generation and energy storage or energy efficiency improvements, including heating, ventilation, and air conditioning systems (HVAC), as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems. It also focuses in the areas of grid connected projects that deploy cleaner energy sources, such as solar and wind to generate power; and other sustainable infrastructure projects, including upgraded transmission or distribution systems, water and storm water infrastructures, and other projects.
Hannon Armstrong Sustainable Infrastructure Capital Fundamentals Summary
|HASI fundamental statistics|
Is HASI overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|HASI income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||0.98|
|Net Profit Margin||80.11%|
How did HASI perform over the long term?See historical performance and comparison
5.0%Current Dividend Yield
Does HASI pay a reliable dividends?See HASI dividend history and benchmarks
|Hannon Armstrong Sustainable Infrastructure Capital dividend dates|
|Ex Dividend Date||Oct 03 2022|
|Dividend Pay Date||Oct 11 2022|
|Days until Ex dividend||1 day|
|Days until Dividend pay date||7 days|
Does HASI pay a reliable dividends?See HASI dividend history and benchmarks
Is HASI undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 2/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for HASI?
Other financial metrics that can be useful for relative valuation.
|What is HASI's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does HASI's PE Ratio compare to its peers?
|HASI PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
ABR Arbor Realty Trust
BXMT Blackstone Mortgage Trust
CMTG Claros Mortgage Trust
ARI Apollo Commercial Real Estate Finance
HASI Hannon Armstrong Sustainable Infrastructure Capital
Price-To-Earnings vs Peers: HASI is expensive based on its Price-To-Earnings Ratio (30.6x) compared to the peer average (8.3x).
Price to Earnings Ratio vs Industry
How does HASI's PE Ratio compare vs other companies in the US Mortgage REITs Industry?
Price-To-Earnings vs Industry: HASI is expensive based on its Price-To-Earnings Ratio (30.6x) compared to the US Mortgage REITs industry average (9.7x)
Price to Earnings Ratio vs Fair Ratio
What is HASI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||30.6x|
|Fair PE Ratio||14x|
Price-To-Earnings vs Fair Ratio: HASI is expensive based on its Price-To-Earnings Ratio (30.6x) compared to the estimated Fair Price-To-Earnings Ratio (14x).
Share Price vs Fair Value
What is the Fair Price of HASI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: HASI ($29.93) is trading below our estimate of fair value ($57.17)
Significantly Below Fair Value: HASI is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.
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How is Hannon Armstrong Sustainable Infrastructure Capital forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
Future Growth Score4/6
Future Growth Score 4/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HASI's forecast earnings growth (16% per year) is above the savings rate (1.9%).
Earnings vs Market: HASI's earnings (16% per year) are forecast to grow faster than the US market (14.8% per year).
High Growth Earnings: HASI's earnings are forecast to grow, but not significantly.
Revenue vs Market: HASI's revenue (21.2% per year) is forecast to grow faster than the US market (7.7% per year).
High Growth Revenue: HASI's revenue (21.2% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HASI's Return on Equity is forecast to be low in 3 years time (11.5%).
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How has Hannon Armstrong Sustainable Infrastructure Capital performed over the past 5 years?
Past Performance Score2/6
Past Performance Score 2/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HASI has high quality earnings.
Growing Profit Margin: HASI's current net profit margins (80.1%) are lower than last year .
Past Earnings Growth Analysis
Earnings Trend: HASI's earnings have grown significantly by 30.3% per year over the past 5 years.
Accelerating Growth: HASI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HASI had negative earnings growth (-23.6%) over the past year, making it difficult to compare to the Mortgage REITs industry average (-1.6%).
Return on Equity
High ROE: HASI's Return on Equity (5.5%) is considered low.
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How is Hannon Armstrong Sustainable Infrastructure Capital's financial position?
Financial Health Score2/6
Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: HASI's short term assets ($1.9B) exceed its short term liabilities ($205.4M).
Long Term Liabilities: HASI's short term assets ($1.9B) do not cover its long term liabilities ($2.7B).
Debt to Equity History and Analysis
Debt Level: HASI's net debt to equity ratio (159.8%) is considered high.
Reducing Debt: HASI's debt to equity ratio has reduced from 198.5% to 177.3% over the past 5 years.
Debt Coverage: HASI's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: Insufficient data to determine if HASI's interest payments on its debt are well covered by EBIT.
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What is Hannon Armstrong Sustainable Infrastructure Capital current dividend yield, its reliability and sustainability?
Dividend Score 2/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Hannon Armstrong Sustainable Infrastructure Capital Dividend Yield vs Market|
|Company (Hannon Armstrong Sustainable Infrastructure Capital)||5.0%|
|Market Bottom 25% (US)||1.7%|
|Market Top 25% (US)||4.7%|
|Industry Average (Mortgage REITs)||14.9%|
|Analyst forecast in 3 Years (Hannon Armstrong Sustainable Infrastructure Capital)||5.5%|
Notable Dividend: HASI's dividend (5.01%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: HASI's dividend (5.01%) is in the top 25% of dividend payers in the US market (4.73%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, HASI has been paying a dividend for less than 10 years.
Growing Dividend: HASI's dividend payments have increased, but the company has only paid a dividend for 9 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (142.5%), HASI's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: HASI is paying a dividend but the company has no free cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jeff Eckel (63 yo)
Mr. Jeffrey Walter Eckel, also known as Jeff, serves as Chairman of Board of Directors, Chief Executive Officer and President of Hannon Armstrong Sustainable Infrastructure Capital, Inc. since 2013. Mr. Ec...
CEO Compensation Analysis
|Jeff Eckel's Compensation vs Hannon Armstrong Sustainable Infrastructure Capital Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jun 30 2022||n/a||n/a|
|Mar 31 2022||n/a||n/a|
|Dec 31 2021||US$9m||US$763k|
|Sep 30 2021||n/a||n/a|
|Jun 30 2021||n/a||n/a|
|Mar 31 2021||n/a||n/a|
|Dec 31 2020||US$4m||US$640k|
|Sep 30 2020||n/a||n/a|
|Jun 30 2020||n/a||n/a|
|Mar 31 2020||n/a||n/a|
|Dec 31 2019||US$5m||US$640k|
|Sep 30 2019||n/a||n/a|
|Jun 30 2019||n/a||n/a|
|Mar 31 2019||n/a||n/a|
|Dec 31 2018||US$5m||US$633k|
|Sep 30 2018||n/a||n/a|
|Jun 30 2018||n/a||n/a|
|Mar 31 2018||n/a||n/a|
|Dec 31 2017||US$4m||US$620k|
|Sep 30 2017||n/a||n/a|
|Jun 30 2017||n/a||n/a|
|Mar 31 2017||n/a||n/a|
|Dec 31 2016||US$5m||US$595k|
|Sep 30 2016||n/a||n/a|
|Jun 30 2016||n/a||n/a|
|Mar 31 2016||n/a||n/a|
|Dec 31 2015||US$5m||US$528k|
Compensation vs Market: Jeff's total compensation ($USD9.24M) is above average for companies of similar size in the US market ($USD6.89M).
Compensation vs Earnings: Jeff's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: HASI's management team is seasoned and experienced (5.7 years average tenure).
Experienced Board: HASI's board of directors are considered experienced (7.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: HASI insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
|25 Aug 22||BuyUS$99,875||Marc Pangburn||Individual||2,500||US$39.95|
|12 Aug 22||BuyUS$100,625||Jeffrey Eckel||Individual||2,300||US$43.75|
|13 May 22||BuyUS$111,540||Jeffrey Lipson||Individual||3,000||US$37.18|
|13 May 22||BuyUS$99,810||Jeffrey Eckel||Individual||2,668||US$37.41|
|22 Feb 22||SellUS$203,366||Marc Pangburn||Individual||4,700||US$43.27|
|08 Nov 21||SellUS$317,033||Nathaniel Rose||Individual||5,000||US$63.91|
|08 Nov 21||SellUS$1,269,200||Daniel McMahon||Individual||20,000||US$63.46|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.5%.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Hannon Armstrong Sustainable Infrastructure Capital, Inc.'s employee growth, exchange listings and data sources
- Name: Hannon Armstrong Sustainable Infrastructure Capital, Inc.
- Ticker: HASI
- Exchange: NYSE
- Founded: 1981
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Implied Market Cap: US$2.625b
- Market Cap: US$2.619b
- Shares outstanding: 87.71m
- Website: https://www.hannonarmstrong.com
Number of Employees
- Hannon Armstrong Sustainable Infrastructure Capital, Inc.
- 1906 Towne Centre Boulevard
- Suite 370
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|HASI||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Apr 2013|
|6HA||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Apr 2013|
|0J2Z||LSE (London Stock Exchange)||Yes||Common Stock||GB||USD||Apr 2013|
|HASI *||BMV (Bolsa Mexicana de Valores)||Yes||Common Stock||MX||MXN||Apr 2013|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/10/02 00:00|
|End of Day Share Price||2022/09/30 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.