Credit Suisse AG, the multinational investment bank headquartered in Switzerland, recently raised its holdings in Hannon Armstrong Sustainable Infrastructure Capital, Inc. by 9.1% in the fourth quarter of 2022. According to Credit Suisse’s 13F filing with the Securities & Exchange Commission (SEC), the firm acquired an additional 30,107 shares, bringing their total number of shares to 360,938 and worth $10,460,000 as of the end of December last year.
Hannon Armstrong Sustainable Infrastructure Capital is a real estate investment trust that focuses on investments in sustainable infrastructure projects such as renewable energy and energy efficiency initiatives. The company’s mission is to generate attractive returns while positively impacting climate change issues through financing clean energy and other sustainable projects.
This move by Credit Suisse comes at a time when ESG (environmental, social, and governance) investing has gained significant importance in the finance industry due to increasing consumer demand for businesses that prioritize sustainability and social responsibility. Therefore it makes sense for Credit Suisse to invest more heavily into HASI because Hannon Armstrong is well-positioned within this trend as a company dedicated exclusively to sustainable infrastructure investments.
In further news related to Hannon Armstrong Sustainable Infrastructure Capital, insiders Jeffrey Eckel and CFO Marc T. Pangburn recently acquired shares in March of this year. Eckel bought 2,087 shares of HASI stock at an average cost of $23.92 per share valued at $49,921.04 total whereas Pangburn purchased 3,000 shares at $24.12 per share valued at $72,360.00 total. After these purchases were made public via filings with the SEC linkable above employees collectively purchased approximately $170K worth across several transactions.
Shares of HASI currently open at $24.45 after experiencing some volatility over the past twelve months with price points ranging between lows at around $21 to highs of approximately $46. HASI’s fifty day simple moving average is currently $26.31 with its 200-day simple moving average coming in at $29.69.
Overall, it appears that Credit Suisse AG is betting on the continued growth and success of Hannon Armstrong Sustainable Infrastructure Capital and its emphasis on sustainability within infrastructure investments. The trend towards socially responsible investing continues to gain momentum and investors like Credit Suisse are taking notice, eager to get in on a wave that’s likely to keep gaining traction over time.
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Institutional Investors and Analysts Monitor Hannon Armstrong Sustainable Infrastructure Capital Amidst Shareholder Changes and Mixed Outlook
Investors and analysts have been closely watching Hannon Armstrong Sustainable Infrastructure Capital over the past several months. In the fourth quarter of 2022, several institutional investors and hedge funds bought new stakes in the company, including RFP Financial Group LLC and CoreCap Advisors LLC.
During the first quarter of 2023, Lazard Asset Management LLC also acquired a stake in Hannon Armstrong. Additionally, Castleview Partners LLC acquired a stake during the same period. Finally, Catalyst Capital Advisors LLC increased its position in shares by 26.7% during the fourth quarter of 2022.
Institutional investors and hedge funds now own a significant majority of Hannon Armstrong Sustainable Infrastructure Capital’s stock, approximately 82.81%. This has led some equities research analysts to weigh in on the company’s future outlook.
According to Bloomberg.com, Hannon Armstrong Sustainable Infrastructure Capital has an average rating of “Hold” with an average target price of $42.29. However, some analysts have lowered their price targets for the company’s shares.
For example, Bank of America recently cut their price objective from $29.00 to $24.00. JPMorgan Chase & Co. also decreased their price objective from $56.00 to $52.00 in February 2023.
Meanwhile, TheStreet downgraded Hannon Armstrong Sustainable Infrastructure Capital from a “b-” rating to a “c.” Oppenheimer reduced their target price from $50.00 to $48.00 but maintained an “outperform” rating on the stock.
Cowen also lowered their price target on Hannon Armstrong Sustainable Infrastructure Capital from $44.00 to $41.00 but assigned an “outperform” rating for the company.
Despite these mixed opinions about its outlook and fluctuating share prices, Hannon Armstrong recently announced plans for a quarterly dividend payment on July 12th. Shareholders who are registered by July 5th will get a dividend of $0.395 per share.
The company’s current dividend payout ratio (DPR) is 752.42%. Ultimately, the outlook for Hannon Armstrong Sustainable Infrastructure Capital remains to be seen, but its future performance will likely depend on factors such as market trends, industry competition, and changes in government policies related to sustainability and renewable energy solutions.