Horizon Technology Finance Corporation (NASDAQ:HRZN) Declares Monthly Dividend of $0.06

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Thursday, November 5th. Stockholders of record on Tuesday, January 19th will be given a dividend of $0.06 per share by the investment management company on Wednesday, February 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 18.1%. The ex-dividend date of this dividend is Tuesday, January 19th.

Horizon Technology Finance has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Horizon Technology Finance to earn $0.71 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 101.4%.

Horizon Technology Finance Trading Up 0.6%

Shares of HRZN traded up $0.02 during midday trading on Friday, reaching $3.98. The stock had a trading volume of 347,259 shares, compared to its average volume of 814,893. The company has a market capitalization of $267.06 million, a price-to-earnings ratio of 10.99 and a beta of 1.00. The company’s 50-day moving average is $4.47 and its 200 day moving average is $4.75. Horizon Technology Finance has a 12-month low of $3.70 and a 12-month high of $6.85.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $24.06 million for the quarter, compared to analysts’ expectations of $25.12 million. Horizon Technology Finance had a return on equity of 11.15% and a net margin of 5.27%. Research analysts forecast that Horizon Technology Finance will post 0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Horizon Technology Finance

A number of large investors have recently made changes to their positions in HRZN. Legal & General Group Plc purchased a new stake in Horizon Technology Finance in the second quarter worth $1,821,000. Bank of America Corp DE bought a new stake in Horizon Technology Finance during the 2nd quarter valued at about $1,068,000. Green Alpha Advisors LLC bought a new position in Horizon Technology Finance in the 2nd quarter valued at approximately $2,033,000. BlackRock Inc. bought a new position in Horizon Technology Finance during the second quarter valued at approximately $856,000. Finally, Chapin Davis Inc. bought a new stake in shares of Horizon Technology Finance in the second quarter worth $60,000. 4.94% of the stock is currently owned by institutional investors.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that has elected to be regulated as a business development company. It provides secured venture loans to development-stage companies backed by venture capital or private equity investors.

The company primarily finances businesses in the technology, life sciences, healthcare information and sustainability sectors. Its lending solutions are designed to support needs such as product development, commercialization, acquisitions, working capital and other corporate purposes.