America First Multifamily Investors, L.P. (ATAX) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of America First Multifamily Investors, L.P. (NASDAQ:ATAX) from a buy rating to a hold rating in a research report report published on Monday.

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. “

Several other research analysts have also recently weighed in on ATAX. BidaskClub cut shares of America First Multifamily Investors, L.P. from a buy rating to a hold rating in a report on Thursday, July 13th. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of America First Multifamily Investors, L.P. and gave the stock a buy rating in a report on Monday, August 7th. UBS AG cut shares of America First Multifamily Investors, L.P. to a market perform rating in a report on Friday, September 1st. Finally, TheStreet cut shares of America First Multifamily Investors, L.P. from a b- rating to a c+ rating in a report on Friday, August 25th. Four research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average target price of $6.38.

America First Multifamily Investors, L.P. (NASDAQ:ATAX) opened at 6.05 on Monday. America First Multifamily Investors, L.P. has a 52 week low of $5.10 and a 52 week high of $6.25. The company has a market cap of $364.52 million, a price-to-earnings ratio of 19.77 and a beta of 0.40. The stock’s 50 day moving average price is $6.10 and its 200-day moving average price is $5.94.

America First Multifamily Investors, L.P. (NASDAQ:ATAX) last issued its earnings results on Monday, August 7th. The financial services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. America First Multifamily Investors, L.P. had a net margin of 33.34% and a return on equity of 6.63%. The business had revenue of $16.23 million for the quarter, compared to analysts’ expectations of $16.76 million. On average, equities research analysts forecast that America First Multifamily Investors, L.P. will post $0.28 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.125 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.50 annualized dividend and a yield of 8.26%. America First Multifamily Investors, L.P.’s dividend payout ratio (DPR) is presently 156.25%.

In related news, CEO Chad L. Daffer bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $6.17 per share, for a total transaction of $123,400.00. Following the completion of the transaction, the chief executive officer now owns 232,168 shares of the company’s stock, valued at $1,432,476.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 24,019 shares of company stock valued at $148,719 over the last quarter. 1.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Girard Partners LTD. purchased a new stake in America First Multifamily Investors, L.P. during the second quarter valued at about $351,000. Creative Planning boosted its position in America First Multifamily Investors, L.P. by 7.5% during the second quarter. Creative Planning now owns 121,950 shares of the financial services provider’s stock valued at $726,000 after buying an additional 8,471 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in America First Multifamily Investors, L.P. by 21.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,385 shares of the financial services provider’s stock valued at $372,000 after buying an additional 11,909 shares during the period. Wells Fargo & Company MN boosted its position in America First Multifamily Investors, L.P. by 12.3% during the first quarter. Wells Fargo & Company MN now owns 194,230 shares of the financial services provider’s stock valued at $1,088,000 after buying an additional 21,199 shares during the period. Finally, NEXT Financial Group Inc boosted its position in America First Multifamily Investors, L.P. by 618.7% during the second quarter. NEXT Financial Group Inc now owns 45,193 shares of the financial services provider’s stock valued at $269,000 after buying an additional 38,905 shares during the period. Institutional investors and hedge funds own 6.70% of the company’s stock.

America First Multifamily Investors, L.P. Company Profile

America First Multifamily Investors, L.P. is engaged in acquiring, holding, selling and dealing with a portfolio of mortgage revenue bonds, which have been issued to provide construction and/or permanent financing for multifamily and student housing (collectively Residential Properties) and commercial properties.

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