ANNAPOLIS, MD – HA Sustainable Infrastructure Capital, Inc., a real estate investment trust, disclosed its financial outcomes for the third quarter ended September 30, 2024, and announced its dividend for the fourth quarter of 2024. The announcement was made in an earnings release on Thursday, as part of a regulatory filing with the Securities and Exchange Commission.
The company, which operates in the Real Estate & Construction sector under the organization name 05 Real Estate & Construction and is listed on the New York Stock Exchange under the ticker NYSE:HASI, has its headquarters at One Park Place, Suite 200, Annapolis, Maryland.
As per the statement, the information provided in the report and the accompanying earnings release is furnished and should not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor should it be deemed incorporated by reference into any registration statement or other document under the Securities Act of 1933, unless specifically stated.
The company's earnings release, dated November 7, 2024, has been formally included as an exhibit to the 8-K filing. This release is expected to provide shareholders and the investment community with a comprehensive overview of the company's financial performance during the third quarter.
In other recent news, Hannon Armstrong (NYSE:HASI) reported a year-over-year adjusted EPS growth of over 20% in the first half of 2024, according to Jefferies. This strong performance sets a solid foundation for achieving its full-year adjusted EPS growth targets. The company also reported a 19% year-over-year growth in adjusted EPS and a 16% increase in adjusted net investment income for Q2 2024. Hannon Armstrong's recent developments include an expansion of its credit facility and strategic partnerships, such as the CCH1 $2 billion initiative with KKR.
Jefferies and Baird have updated their outlook on Hannon Armstrong, raising their price targets to $40.00 and $47.00, respectively. Both firms maintain a positive rating on the company's stock, reflecting confidence in its strategic execution and future prospects. RBC Capital initiated coverage on Hannon Armstrong with an Outperform rating, citing the company's potential for compounding growth and resilient business model.
Hannon Armstrong's investments in renewable energy have significantly expanded, reaching 10 gigawatts in solar and wind capacity and 6 million MMBTUs in renewable natural gas projects. This has led to a significant increase of over 80% in the company's managed assets since 2020, reaching $13 billion by the end of Q2 2024.
InvestingPro Insights
To complement HA Sustainable Infrastructure Capital's Q3 2024 earnings release, recent data from InvestingPro offers additional context for investors. The company's market capitalization stands at $3.78 billion, reflecting its significant presence in the sustainable infrastructure sector.
InvestingPro Tips highlight HASI's consistent dividend performance, having maintained payments for 12 consecutive years and raised dividends for 5 years straight. This track record may be particularly appealing to income-focused investors in the REIT space. The current dividend yield of 5.15% is noteworthy, especially considering the company's dividend growth of 5.06% over the last twelve months.
Financial metrics from InvestingPro show a Price to Earnings (P/E) ratio of 14.4, suggesting a relatively moderate valuation compared to historical norms. The company's revenue growth of 31.06% over the last twelve months indicates strong business expansion, aligning with the sector's focus on sustainable infrastructure development.
For investors seeking a deeper analysis, InvestingPro offers 10 additional tips for HASI, providing a more comprehensive view of the company's financial health and market position.
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