America First Multifamily Investors (NASDAQ:ATAX) Rating Lowered to Hold at BidaskClub

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BidaskClub downgraded shares of America First Multifamily Investors (NASDAQ:ATAX) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

ATAX opened at $7.58 on Friday. The stock has a fifty day moving average of $7.40 and a 200-day moving average of $7.06. The firm has a market capitalization of $458.03 million, a P/E ratio of 12.63 and a beta of 0.29. America First Multifamily Investors has a 12-month low of $5.17 and a 12-month high of $7.98. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.78.

America First Multifamily Investors (NASDAQ:ATAX) last issued its earnings results on Friday, August 2nd. The financial services provider reported $0.05 EPS for the quarter. America First Multifamily Investors had a return on equity of 13.54% and a net margin of 51.06%. The business had revenue of $14.35 million during the quarter.

A number of institutional investors have recently made changes to their positions in ATAX. Acadian Asset Management LLC boosted its position in America First Multifamily Investors by 147.1% during the 2nd quarter. Acadian Asset Management LLC now owns 180,590 shares of the financial services provider’s stock worth $1,286,000 after acquiring an additional 107,517 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in America First Multifamily Investors by 37.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 389,925 shares of the financial services provider’s stock valued at $2,679,000 after acquiring an additional 107,097 shares in the last quarter. Citadel Advisors LLC purchased a new position in America First Multifamily Investors during the 2nd quarter valued at about $567,000. Measured Wealth Private Client Group LLC acquired a new position in shares of America First Multifamily Investors in the 2nd quarter valued at about $378,000. Finally, Geode Capital Management LLC increased its holdings in shares of America First Multifamily Investors by 77.4% in the 4th quarter. Geode Capital Management LLC now owns 69,438 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 30,297 shares during the period. 8.24% of the stock is owned by hedge funds and other institutional investors.

About America First Multifamily Investors

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.

Further Reading: Recession

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