I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Tech Markets specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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Latest posts by Jonathan Perez (see all)
- Trending Stock: The Howard Hughes Corporation (NYSE: HHC) - November 30, 2019
- Earnings Alert: Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI) - November 30, 2019
- Stock under Review: Triple-S Management Corporation (NYSE: GTS) - November 30, 2019
ANNAPOLIS, Md., November 30, 2019 – Shares of Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI) inclined 1.30% to $29.53. The stock traded total volume of 515.501K shares higher than the average volume of 344.28K shares.
Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE: HASI) reported decrease in revenue by approximately $5.0M, or 13%, for the three months ended June 30, 2019, and is up slightly for the six months ended June 30, 2019, as compared to the same periods in 2018. The $8.0M quarterly decrease in gain on sale and fee income was partially offset by a $3.0M increase in interest income and rental income. On a year to date basis, the higher interest income and rental income more than offset the lower gain on sale and fee income.
The lower revenue for the quarter was largely offset by a reduction in interest expense of approximately $4.0M with interest expense having declined by $7.0M for the six months ended June 30, 2019, as compared to the same periods in 2018 due to continued optimization of our leverage and debt costs.
Other expenses (compensation and benefits and general and administrative expenses) were flat for GAAP for the quarter and increased by approximately $3.0M during the six months ended June 30, 2019, as compared to the same periods in 2018. The year over year increase was primarily due to an increase in equity-based compensation resulting from the timing of vesting and higher award valuations.
For the three months ended June 30, 2019, we recognized $8.0M in income using the hypothetical liquidation at book value method, or HLBV, for our equity method investments, as compared to $11.0M of income for the three months ended June 30, 2018 in part due to one-time increased allocations resulting from changes in the tax code. For the full year-to-date period, income from our equity method investments increased by approximately $4.0M due to the allocation of investment tax credits, which increases our allocation of earnings. We also recognized a $1.0M income tax benefit in the current year-to-date period related to allocations of tax benefits from one of our equity method investments.
Core earnings decreased by approximately $1.0M for the quarter primarily due to the lower gain on sale and fee income compared to the same quarter last year. Core earnings grew by approximately $6.0M for the six months ended June 30, 2019 over the same period in 2018 primarily as a result of increased interest and rental income and lower interest expense.
HASI has the market capitalization of $1.97B and its EPS growth ratio for the past five years was 25.40%. The return on assets ratio of the Company was 2.20% while its return on investment ratio stands at 2.00%. Price to sales ratio was 13.81 while 82.10% of the stock was owned by institutional investors.