NYSE:HASI

Stock Analysis Report

Hannon Armstrong Sustainable Infrastructure Capital

Executive Summary

Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Snowflake

Fundamentals

Acceptable track record with moderate growth potential.


Similar Companies

Share Price & News

How has Hannon Armstrong Sustainable Infrastructure Capital's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.9%

HASI

0.1%

US REITs

2.3%

US Market


1 Year Return

39.7%

HASI

19.1%

US REITs

5.6%

US Market

Return vs Industry: HASI exceeded the US REITs industry which returned 19.1% over the past year.

Return vs Market: HASI exceeded the US Market which returned 5.6% over the past year.


Shareholder returns

HASIIndustryMarket
7 Day-1.9%0.1%2.3%
30 Day-1.4%0.8%-1.0%
90 Day2.8%5.3%-0.7%
1 Year47.4%39.7%24.4%19.1%7.9%5.6%
3 Year56.7%31.0%33.7%16.6%45.6%36.3%
5 Year168.2%99.0%63.2%28.8%65.8%47.6%

Price Volatility Vs. Market

How volatile is Hannon Armstrong Sustainable Infrastructure Capital's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Hannon Armstrong Sustainable Infrastructure Capital undervalued compared to its fair value and its price relative to the market?

32.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: HASI ($28.3) is trading above our estimate of fair value ($10.45)

Significantly Undervalued: HASI is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: HASI is good value based on its PE Ratio (32.7x) compared to the REITs industry average (35.3x).

PE vs Market: HASI is poor value based on its PE Ratio (32.7x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: HASI is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: HASI is overvalued based on its PB Ratio (2.1x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Hannon Armstrong Sustainable Infrastructure Capital forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

14.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HASI's forecast earnings growth (14.7% per year) is above the savings rate (2.7%).

Earnings vs Market: HASI's earnings (14.7% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: HASI's earnings are forecast to grow, but not significantly.

Revenue vs Market: HASI's revenue (14.1% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: HASI's revenue (14.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: HASI's Return on Equity is forecast to be low in 3 years time (10.5%).


Next Steps

Past Performance

How has Hannon Armstrong Sustainable Infrastructure Capital performed over the past 5 years?

49.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: HASI has become profitable over the past 5 years, growing earnings by 49.1% per year.

Accelerating Growth: HASI's earnings growth over the past year (98.2%) exceeds its 5-year average (49.1% per year).

Earnings vs Industry: HASI earnings growth over the past year (98.2%) exceeded the REITs industry 17%.


Return on Equity

High ROE: HASI's Return on Equity (5.9%) is considered low.


Return on Assets

ROA vs Industry: HASI's Return on Assets is below or equal to the REITs industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate HASI's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is Hannon Armstrong Sustainable Infrastructure Capital's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: HASI has a low level of unsold assets or inventory.

Debt Coverage by Assets: HASI's debt is not covered by short term assets (assets are 0.8x debt).


Financial Institutions Analysis

Asset Level: HASI's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if HASI has a sufficient allowance for bad loans.

Low Risk Liabilities: HASI reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if HASI has an acceptable proportion of non-loan assets held.

Low Risk Deposits: HASI has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if HASI has an appropriate level of bad loans.


Next Steps

Dividend

What is Hannon Armstrong Sustainable Infrastructure Capital's current dividend yield, its reliability and sustainability?

4.73%

Current Dividend Yield


Dividend Yield vs Market

company4.7%marketbottom25%1.5%markettop25%3.8%industryaverage3.7%forecastin3Years4.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: HASI's dividend (4.73%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: HASI's dividend (4.73%) is in the top 25% of dividend payers in the US market (3.76%)

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 6 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (153.5%), HASI's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HASI's dividends in 3 years are forecast to be covered by earnings (95.6% payout ratio).


Next Steps

Management

What is the CEO of Hannon Armstrong Sustainable Infrastructure Capital's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

Jeff Eckel (60yo)

6.8yrs

Tenure

US$5,226,786

Compensation

Mr. Jeffrey Walter Eckel, also knwon as Jeff, has served as Chairman of Board of Directors of Hannon Armstrong Sustainable Infrastructure Capital, Inc. since 2013 and has served as President and Chief Exec ...


CEO Compensation Analysis

Compensation vs. Market: Jeff's total compensation ($USD5.23M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.8yrs

Average Tenure

49yo

Average Age

Experienced Management: HASI's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

4.8yrs

Average Tenure

62yo

Average Age

Experienced Board: HASI's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

Insider Buying: HASI insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellUS$299,97014 Aug 19
Steven Chuslo
EntityIndividual
Role
Chief Legal Officer
General Counsel & Executive VP
Shares11,000
Max PriceUS$27.27
BuyUS$51,04506 Aug 19
Jeffrey Eckel
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares1,891
Max PriceUS$27.19
SellUS$80,02906 Aug 19
Charles Melko
EntityIndividual
Role
Chief Accounting Officer
Senior VP & Chief Accounting Officer
Shares2,952
Max PriceUS$27.11
SellUS$263,70014 May 19
Nathaniel Rose
EntityIndividual
Role
Chief Investment Officer
Chief Investment Officer & Executive VP
Shares10,000
Max PriceUS$26.37
BuyUS$26,41909 May 19
Jeffrey Eckel
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares985
Max PriceUS$26.84
BuyUS$100,21419 Nov 18
Rebecca Blalock
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares4,290
Max PriceUS$23.36
BuyUS$2,04314 Nov 18
Jeffrey Eckel
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares89
Max PriceUS$22.95
BuyUS$57,17513 Nov 18
Richard Osborne
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares2,500
Max PriceUS$22.87
SellUS$456,80008 Nov 18
Daniel McMahon
EntityIndividual
Role
Senior Key Executive
Executive VP & Head of Portfolio Management Group
Shares20,000
Max PriceUS$22.84

Ownership Breakdown


Management Team

  • Jeff Eckel (60yo)

    Chairman

    • Tenure: 6.8yrs
    • Compensation: US$5.23m
  • J. Herron (58yo)

    Executive Vice President

    • Tenure: 0.6yrs
    • Compensation: US$2.39m
  • Nate Rose (41yo)

    Chief Investment Officer & Executive VP

    • Tenure: 2.3yrs
    • Compensation: US$2.14m
  • Dan McMahon (47yo)

    Executive VP & Head of Portfolio Management Group

    • Tenure: 12.8yrs
    • Compensation: US$1.88m
  • Jeff Lipson (51yo)

    Executive VP & CFO

    • Tenure: 0.6yrs
  • Steve Chuslo (61yo)

    General Counsel & Executive VP

    • Tenure: 11.8yrs
    • Compensation: US$1.97m
  • Dana Smith (47yo)

    Chief Human Resources Officer

    • Tenure: 2.8yrs
  • Charles Melko (38yo)

    Senior VP & Chief Accounting Officer

    • Tenure: 2.6yrs
  • Amanda Cimaglia

    Director of Investor Relations & Corporate Communications

    • Tenure: 0yrs
  • Jeff Martin

    VP & CTO

    • Tenure: 2.8yrs

Board Members

  • Richard Osborne (68yo)

    Lead Independent Director

    • Tenure: 5.5yrs
    • Compensation: US$154.99k
  • Simone Lagomarsino (58yo)

    Independent Director

    • Tenure: 0.3yrs
  • Mike Eckhart (70yo)

    Independent Director

    • Tenure: 0.3yrs
  • Becky Blalock (63yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$129.99k
  • Jeff Eckel (60yo)

    Chairman

    • Tenure: 6.8yrs
    • Compensation: US$5.23m
  • Steve Osgood (62yo)

    • Tenure: 4.8yrs
    • Compensation: US$149.99k
  • Teresa Brenner (55yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: US$144.99k
  • Mark Cirilli (47yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$144.99k
  • Charles O'Neil (66yo)

    Independent Director

    • Tenure: 6.5yrs
    • Compensation: US$144.99k

Company Information

Hannon Armstrong Sustainable Infrastructure Capital, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Hannon Armstrong Sustainable Infrastructure Capital, Inc.
  • Ticker: HASI
  • Exchange: NYSE
  • Founded: 2012
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.840b
  • Market Cap: US$1.837b
  • Shares outstanding: 65.19m
  • Website: https://www.hannonarmstrong.com

Number of Employees


Location

  • Hannon Armstrong Sustainable Infrastructure Capital, Inc.
  • 1906 Towne Centre Boulevard
  • Suite 370
  • Annapolis
  • Maryland
  • 21401
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HASINYSE (New York Stock Exchange)YesCommon StockUSUSDApr 2013
6HADB (Deutsche Boerse AG)YesCommon StockDEEURApr 2013
0J2ZLSE (London Stock Exchange)YesCommon StockGBUSDApr 2013

Biography

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 co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/17 00:24
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.