Zacks Investment Research lowered shares of America First Multifamily Investors (NASDAQ:ATAX) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
According to Zacks, “America First Tax Exempt Investors, L.P. is a consistently performing fund with a portfolio of federally tax-exempt mortgage revenue bonds; interest on these bonds is excludable from gross income for federal tax purposes. As a result, most of the income earned by the Partnership is exempt from federal income taxes. “
ATAX has been the topic of several other reports. BidaskClub upgraded America First Multifamily Investors from a sell rating to a hold rating in a report on Thursday, June 28th. Oppenheimer restated a hold rating on shares of America First Multifamily Investors in a report on Wednesday, May 9th. Finally, TheStreet upgraded America First Multifamily Investors from a c+ rating to a b- rating in a report on Tuesday, May 15th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has an average rating of Sell and an average target price of $7.25.
Shares of America First Multifamily Investors stock opened at $5.65 on Thursday. The company has a market cap of $383.88 million, a PE ratio of 12.84 and a beta of 0.35. America First Multifamily Investors has a 1-year low of $5.25 and a 1-year high of $6.50. The company has a debt-to-equity ratio of 2.19, a quick ratio of 4.68 and a current ratio of 4.68.
America First Multifamily Investors (NASDAQ:ATAX) last issued its earnings results on Monday, August 13th. The financial services provider reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). The company had revenue of $15.79 million for the quarter, compared to analyst estimates of $17.88 million. America First Multifamily Investors had a return on equity of 9.35% and a net margin of 34.37%. analysts expect that America First Multifamily Investors will post 0.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend was Thursday, June 28th. America First Multifamily Investors’s dividend payout ratio is currently 113.64%.
In other America First Multifamily Investors news, CEO Chad L. Daffer acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average cost of $5.64 per share, for a total transaction of $112,800.00. Following the completion of the acquisition, the chief executive officer now owns 309,101 shares of the company’s stock, valued at approximately $1,743,329.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 23,936 shares of company stock worth $135,488 over the last quarter. 1.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATAX. Renaissance Technologies LLC lifted its holdings in America First Multifamily Investors by 6.8% in the fourth quarter. Renaissance Technologies LLC now owns 235,312 shares of the financial services provider’s stock valued at $1,424,000 after acquiring an additional 15,019 shares during the last quarter. Deutsche Bank AG lifted its holdings in America First Multifamily Investors by 7.6% in the fourth quarter. Deutsche Bank AG now owns 419,351 shares of the financial services provider’s stock valued at $2,537,000 after acquiring an additional 29,551 shares during the last quarter. LPL Financial LLC acquired a new position in America First Multifamily Investors in the fourth quarter valued at approximately $115,000. Cavalier Investments LLC acquired a new position in America First Multifamily Investors in the first quarter valued at approximately $223,000. Finally, First Allied Advisory Services Inc. lifted its holdings in America First Multifamily Investors by 11.0% in the first quarter. First Allied Advisory Services Inc. now owns 221,630 shares of the financial services provider’s stock valued at $1,366,000 after acquiring an additional 21,904 shares during the last quarter. Hedge funds and other institutional investors own 6.54% of the company’s stock.
America First Multifamily Investors Company Profile
America First Multifamily Investors, L.P. acquires, holds, sells, and deals in a portfolio of mortgage revenue bonds (MRBs) that are issued to provide construction or permanent financing for multifamily and student housing, and residential and commercial properties. It operates through four segments: Mortgage Revenue Bond Investments, MF Properties, Public housing Capital Fund Trust, and Other Investments.
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