HA Sustainable Infrastructure Capital (NYSE:HASI) Issues Quarterly Earnings Results

Key Points

• HASI beat quarterly expectations, reporting adjusted EPS of $0.77 versus $0.68 expected and revenue of $124.23 million versus $112.24 million estimated. Management also highlighted record quarterly adjusted ROE of 15.7%.
• The company raised its long-term outlook, reaffirming FY 2028 guidance of $3.50–$3.60 adjusted EPS and 17% adjusted ROE. It also said Q1 originations were $637 million and its 12-month pipeline topped $6.5 billion.
• Shareholder returns and capital actions remain active, including a $0.425 quarterly dividend and a $1 billion debt issuance that extended its weighted-average maturity to 12.8 years. Analysts were broadly upbeat as well, with several raising price targets and RBC reiterating an outperform rating.

HA Sustainable Infrastructure Capital (NYSE:HASI - Get Free Report) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09, FiscalAI reports. The business had revenue of $124.23 million during the quarter, compared to analysts' expectations of $112.24 million. HA Sustainable Infrastructure Capital had a return on equity of 12.67% and a net margin of 13.08%. HA Sustainable Infrastructure Capital updated its FY 2028 guidance to 3.500-3.600 EPS.

Here are the key takeaways from HA Sustainable Infrastructure Capital's conference call:

• HASI reported strong Q1 results with adjusted EPS of $0.77, adjusted ROE of 15.7% (the highest quarterly level in company history), and reaffirmed its 2028 guidance of $3.50–$3.60 adjusted EPS and 17% adjusted ROE.
• Investment activity remained robust — Q1 total originations were $637M (with ~$462M to be held on the balance sheet/CCH1), managed assets rose to $16.4B (+13% YoY), and the 12‑month pipeline exceeds $6.5B, keeping HASI on pace for its $2–$3B 2026 origination target.
• Strategic and balance‑sheet moves bolster capital efficiency — HASI launched a $400M minority investment (30%) in the Ameresco joint venture Neogenyx Fuels, issued $1B of long‑duration debt (extending WA maturity to 12.8 years), holds ~$2.3B of liquidity, and issued no ATM shares in Q1 with minimal equity issuance expected in 2026.
• Management flagged external risks and modest asset issues — macro/geopolitical volatility (e.g., Middle East conflict, rising U.S. power prices), private credit market stress, a small HLBV GAAP loss (expected to reverse next quarter), and two receivables moved to Category 2 due to technical/equipment issues, while residential delinquencies show a small uptick though remain within underwriting expectations.

HA Sustainable Infrastructure Capital Trading Down 3.3%

Shares of HA Sustainable Infrastructure Capital stock traded down $1.39 during trading on Friday, hitting $41.08. The stock had a trading volume of 1,791,666 shares, compared to its average volume of 899,651. The firm's fifty day simple moving average is $38.21 and its 200-day simple moving average is $34.99. The stock has a market cap of $5.28 billion, a PE ratio of 117.38, a PEG ratio of 1.32 and a beta of 1.47. The company has a debt-to-equity ratio of 1.94, a current ratio of 9.20 and a quick ratio of 9.20. HA Sustainable Infrastructure Capital has a 12 month low of $24.28 and a 12 month high of $44.13.

HA Sustainable Infrastructure Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Thursday, July 2nd will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, July 2nd. HA Sustainable Infrastructure Capital's dividend payout ratio is presently 125.00%.

Insider Activity at HA Sustainable Infrastructure Capital

In other news, Director Jeffrey Eckel sold 134,398 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $39.23, for a total value of $5,272,433.54. Following the sale, the director directly owned 9,050 shares in the company, valued at approximately $355,031.50. This represents a 93.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On HA Sustainable Infrastructure Capital

Several hedge funds have recently bought and sold shares of HASI. iSAM Funds UK Ltd bought a new stake in shares of HA Sustainable Infrastructure Capital during the third quarter worth $27,000. Triumph Capital Management bought a new position in shares of HA Sustainable Infrastructure Capital in the fourth quarter worth about $29,000. Northwestern Mutual Wealth Management Co. increased its stake in HA Sustainable Infrastructure Capital by 101.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,937 shares of the real estate investment trust's stock worth $61,000 after buying an additional 977 shares during the period. Quadrant Capital Group LLC purchased a new position in HA Sustainable Infrastructure Capital in the 3rd quarter worth about $72,000. Finally, Smartleaf Asset Management LLC lifted its holdings in HA Sustainable Infrastructure Capital by 14.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,653 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 336 shares in the last quarter. Institutional investors own 96.14% of the company's stock.

Key Headlines Impacting HA Sustainable Infrastructure Capital

Here are the key news stories impacting HA Sustainable Infrastructure Capital this week:

• Positive Sentiment: Royal Bank of Canada raised its price target on HASI from $43 to $48 and reiterated an outperform rating, signaling additional upside from current levels. Benzinga report on RBC price target increase
• Positive Sentiment: The company reported Q1 2026 adjusted EPS of $0.77, topping estimates of $0.68 and rising from $0.64 a year ago, which suggests stronger-than-expected operating performance. Zacks earnings beat article
• Positive Sentiment: HASI lifted its FY 2028 EPS guidance to $3.50-$3.60, above the consensus estimate of $3.18, reinforcing confidence in long-term growth.
• Positive Sentiment: The company declared a quarterly dividend of $0.425 per share, a signal of continued shareholder returns and income appeal for investors. Dividend declaration article
• Positive Sentiment: Management also announced executive appointments, which may support execution as the company scales its sustainable infrastructure platform. Executive appointments press release

Analysts Set New Price Targets

A number of research firms recently weighed in on HASI. UBS Group raised their target price on shares of HA Sustainable Infrastructure Capital from $44.00 to $50.00 and gave the company a "buy" rating in a report on Friday. TD Cowen upped their price target on shares of HA Sustainable Infrastructure Capital from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Citigroup increased their price objective on shares of HA Sustainable Infrastructure Capital from $36.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Mizuho boosted their target price on shares of HA Sustainable Infrastructure Capital from $34.00 to $41.00 and gave the stock an "outperform" rating in a report on Wednesday, March 4th. Finally, Morgan Stanley upped their target price on shares of HA Sustainable Infrastructure Capital from $47.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.90.

About HA Sustainable Infrastructure Capital

Hannon Armstrong Sustainable Infrastructure Capital, Inc NYSE: HASI is a publicly traded real estate investment trust specializing in financing and investing in climate change solutions. Founded in 1988 and headquartered in Annapolis, Maryland, the company provides debt and equity capital to sustainable infrastructure projects across North America. Its mission is to support energy efficiency, renewable energy generation and resilient infrastructure, helping public and private sector clients reduce carbon emissions and achieve long-term environmental goals.

Hannon Armstrong's core business activities include originating and structuring loans, acquiring debt and equity interests, and managing a diversified portfolio of projects in sectors such as solar energy, wind power, energy storage, green buildings, and sustainable agriculture.

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