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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, September 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.21%. The ex-dividend date is Friday, August 16th.

Horizon Technology Finance has raised its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a payout ratio of 93.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Price Performance

NASDAQ HRZN opened at $11.77 on Tuesday. Horizon Technology Finance has a 1-year low of $10.75 and a 1-year high of $13.73. The stock has a 50-day moving average of $11.53 and a 200-day moving average of $12.30.

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

Analysts Set New Price Targets

HRZN has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, March 1st. B. Riley lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a report on Monday, January 8th. UBS Group reduced their price target on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $10.38.

Insider Buying and Selling

In other news, President Gerald A. Michaud acquired 3,650 shares of the business’s stock in a transaction on Friday, March 8th. The shares were acquired at an average cost of $11.77 per share, with a total value of $42,960.50. Following the transaction, the president now owns 156,244 shares in the company, valued at approximately $1,838,991.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Horizon Technology Finance Company Profile

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.