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Hannon Armstrong Sustainable Infrastructure Capital Inc (HASI)

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Upturn Advisory Summary
12/24/2025: HASI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $39.64
1 Year Target Price $39.64
| 10 | Strong Buy |
| 4 | Buy |
| 2 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -54.1% | Avg. Invested days 27 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() | Upturn Advisory Performance | Stock Returns Performance |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.16B USD | Price to earnings Ratio 14.23 | 1Y Target Price 39.64 |
Price to earnings Ratio 14.23 | 1Y Target Price 39.64 | ||
Volume (30-day avg) 16 | Beta 1.48 | 52 Weeks Range 21.35 - 34.54 | Updated Date 12/24/2025 |
52 Weeks Range 21.35 - 34.54 | Updated Date 12/24/2025 | ||
Dividends yield (FY) 5.09% | Basic EPS (TTM) 2.32 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 309.5% | Operating Margin (TTM) -18.06% |
Management Effectiveness
Return on Assets (TTM) 4.22% | Return on Equity (TTM) 12.55% |
Valuation
Trailing PE 14.23 | Forward PE 11.32 | Enterprise Value 9116948480 | Price to Sales(TTM) 41.77 |
Enterprise Value 9116948480 | Price to Sales(TTM) 41.77 | ||
Enterprise Value to Revenue 16.52 | Enterprise Value to EBITDA - | Shares Outstanding 126079192 | Shares Floating 123952236 |
Shares Outstanding 126079192 | Shares Floating 123952236 | ||
Percent Insiders 1.95 | Percent Institutions 108.56 |
Upturn AI SWOT
Hannon Armstrong Sustainable Infrastructure Capital Inc

Company Overview
History and Background
Hannon Armstrong Sustainable Infrastructure Capital Inc. (HASI) was founded in 1985. Initially focused on providing capital for the real estate sector, it evolved to become a leading investor in sustainable infrastructure. A key milestone was its IPO in 2013, transitioning from a private company to a publicly traded REIT. The company has since focused on deploying capital across a broad spectrum of climate solutions.
Core Business Areas
- Asset-Backed Investments: This segment involves providing debt and equity capital to companies and projects that have a demonstrable track record of generating cash flows, often backed by tangible assets. These investments can include solar and wind projects, energy efficiency retrofits, and other climate-positive infrastructure.
- Managed Assets: This segment includes investments in a portfolio of sustainable infrastructure assets that Hannon Armstrong manages directly or through joint ventures. These assets are typically larger-scale projects requiring active management and operational oversight.
- Senior Managed Accounts: This involves providing debt capital to sponsors of sustainable infrastructure projects. These are typically senior secured loans that are secured by the underlying project assets.
Leadership and Structure
Hannon Armstrong operates as a real estate investment trust (REIT). The company is led by its executive management team, including the Chief Executive Officer and other key officers responsible for strategy, finance, and operations. The board of directors oversees the company's governance and strategic direction.
Top Products and Market Share
Key Offerings
- Sustainable Infrastructure Financing: Hannon Armstrong provides a variety of financing solutions, including debt, equity, and preferred equity, to support the development and operation of sustainable infrastructure projects. This includes solar, wind, energy efficiency, and grid modernization projects. Specific market share data is not readily available as the company operates in a niche financing market. Competitors include other institutional investors, private equity firms, and specialized infrastructure funds.
- Real Estate Investments: The company also makes real estate investments that are aligned with sustainability principles, such as energy-efficient buildings and renewable energy-powered facilities. Market share data for this specific niche is not publicly disclosed. Competitors include other real estate investment firms and specialized green real estate funds.
Market Dynamics
Industry Overview
Hannon Armstrong operates in the rapidly growing sustainable infrastructure and climate solutions market. This sector is driven by increasing global demand for renewable energy, energy efficiency, and climate resilience, supported by government policies, corporate sustainability goals, and technological advancements. The market is characterized by significant capital deployment needs.
Positioning
Hannon Armstrong is positioned as a leading investor and financier of sustainable infrastructure in the U.S. Its competitive advantages include its deep expertise in the sector, established relationships with developers and sponsors, a diversified portfolio, and a proven track record of deploying capital effectively. It acts as a critical bridge between capital markets and sustainable projects.
Total Addressable Market (TAM)
The TAM for sustainable infrastructure is vast and continues to expand globally. While specific TAM figures for Hannon Armstrong's exact niche are difficult to isolate, the broader sustainable infrastructure market is projected to be in the trillions of dollars over the coming decades. Hannon Armstrong, while a significant player in its segment, represents a fraction of this overall TAM, focusing on specific financing and investment opportunities.
Upturn SWOT Analysis
Strengths
- Deep expertise in sustainable infrastructure financing and investment.
- Diversified portfolio across various sustainable asset classes.
- Strong relationships with project developers and sponsors.
- Established track record of financial performance and capital deployment.
- Alignment with growing ESG (Environmental, Social, and Governance) trends.
Weaknesses
- Sensitivity to interest rate fluctuations, impacting financing costs.
- Reliance on a relatively concentrated group of large transactions.
- Potential for project-specific risks and performance variability.
- Limited diversification outside of sustainable infrastructure and real estate.
Opportunities
- Increasing global demand for climate solutions and renewable energy.
- Government incentives and policies supporting sustainable development.
- Expansion into new sustainable infrastructure sectors (e.g., carbon capture, grid modernization).
- Growing corporate commitments to sustainability targets.
- Potential for international expansion.
Threats
- Changes in government policy or regulatory frameworks.
- Increased competition for attractive sustainable infrastructure assets.
- Economic downturns impacting investment and project development.
- Technological obsolescence in certain sustainable technologies.
- Rising interest rates increasing cost of capital.
Competitors and Market Share
Key Competitors
- Brookfield Renewable Partners (BEP)
- NextEra Energy Partners, LP (NEP)
- Clearway Energy, Inc. (CWEN)
Competitive Landscape
Hannon Armstrong competes by offering specialized financing and investment solutions tailored to the unique needs of sustainable infrastructure projects. Its advantages lie in its niche focus, deep industry knowledge, and established relationships. Competitors like Brookfield Renewable Partners and NextEra Energy Partners often have larger, more vertically integrated operations that include power generation. Clearway Energy also operates in the renewable energy space. HASI's advantage is its flexibility as a pure-play capital provider.
Growth Trajectory and Initiatives
Historical Growth: Hannon Armstrong has demonstrated a historical growth trajectory driven by its strategic focus on the expanding sustainable infrastructure market. This growth is evidenced by increases in its investment portfolio, revenue, and earnings over the years. The company has successfully scaled its operations and capital deployment capabilities.
Future Projections: Future growth projections for Hannon Armstrong are generally positive, supported by ongoing investments in renewable energy and climate solutions. Analyst estimates typically forecast continued expansion in its investment portfolio and earnings, driven by market tailwinds and its established business model. Specific growth percentages would be available from analyst reports.
Recent Initiatives: Recent initiatives likely include the origination of new debt and equity investments in renewable energy projects, expansion into new sustainable technology areas, and potentially strategic partnerships to enhance its capital deployment capacity and market reach.
Summary
Hannon Armstrong Sustainable Infrastructure Capital Inc. is a well-positioned REIT in the growing sustainable infrastructure sector. Its strengths lie in its specialized expertise and established market relationships, enabling it to capitalize on the increasing demand for climate solutions. However, it faces risks related to interest rate sensitivity and competition. Continued focus on strategic investments and adapting to evolving market dynamics will be crucial for its sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company investor relations website
- Financial news outlets (e.g., Wall Street Journal, Bloomberg)
- Financial data providers (e.g., Yahoo Finance, Seeking Alpha)
- Industry research reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Investment decisions should be made after consulting with a qualified financial advisor and conducting independent research. Market share data and TAM figures are estimates and subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Hannon Armstrong Sustainable Infrastructure Capital Inc
Exchange NYSE | Headquaters Annapolis, MD, United States | ||
IPO Launch date 2013-04-18 | President, CEO & Director Mr. Jeffrey A. Lipson | ||
Sector Financial Services | Industry Asset Management | Full time employees 150 | Website https://www.hasi.com |
Full time employees 150 | Website https://www.hasi.com | ||
HA Sustainable Infrastructure Capital, Inc., through its subsidiaries, engages in the investment in energy efficiency, renewable energy, and sustainable infrastructure markets in the United States. The company's portfolio includes equity investments, commercial and government receivables, real estate, and debt securities. It invests in climate solution, including Behind-the-Meter that distributes energy projects which reduce energy usage or cost through heating, ventilation, and air conditioning systems, as well as lighting, energy controls, roofs, windows, building shells, and/or combined heat and power systems; Grid-Connected, a renewable energy projects that deploy cleaner energy sources, such as solar, solar-plus-storage, and wind to generate power production; and Fuels, Transport, and Nature, a range of infrastructure assets that are designed to reduce emissions and/or provide environmental benefits in projects beyond the power grid such as transportation and fuels comprising renewable natural gas plants, transportation fleet enhancements, ecological restoration, and other projects. The company was formerly known as Hannon Armstrong Sustainable Infrastructure Capital, Inc. and changed its name to HA Sustainable Infrastructure Capital, Inc. in June 2024. HA Sustainable Infrastructure Capital, Inc. was founded in 1981 and is headquartered in Annapolis, Maryland.

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