America First Multifamily Investors, L.P. (ATAX) Downgraded by Zacks Investment Research to Hold

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

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

America First Multifamily Investors, L.P. (ATAX) opened at 6.10 on Monday. The company has a market cap of $367.54 million, a price-to-earnings ratio of 19.93 and a beta of 0.40. America First Multifamily Investors, L.P. has a 52-week low of $5.10 and a 52-week high of $6.25. The stock has a 50 day moving average of $6.10 and a 200-day moving average of $5.95.

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

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date of this dividend is Thursday, September 28th. America First Multifamily Investors, L.P.’s dividend payout ratio (DPR) is presently 156.25%.

In other America First Multifamily Investors, L.P. news, CEO Chad L. Daffer purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $6.17 per share, for a total transaction of $123,400.00. Following the purchase, the chief executive officer now owns 232,168 shares in the company, valued at $1,432,476.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 24,019 shares of company stock worth $148,719. 1.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in America First Multifamily Investors, L.P. by 1.6% in the 2nd quarter. Royal Bank of Canada now owns 319,303 shares of the financial services provider’s stock valued at $1,900,000 after acquiring an additional 5,000 shares during the period. Wells Fargo & Company MN raised its stake in America First Multifamily Investors, L.P. by 4.2% in the 2nd quarter. Wells Fargo & Company MN now owns 202,431 shares of the financial services provider’s stock valued at $1,205,000 after acquiring an additional 8,201 shares during the period. Creative Planning grew its holdings in America First Multifamily Investors, L.P. by 7.5% in the 2nd 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 in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in America First Multifamily Investors, L.P. by 0.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 66,650 shares of the financial services provider’s stock valued at $397,000 after buying an additional 265 shares in the last quarter. Finally, Girard Partners LTD. acquired a new position in America First Multifamily Investors, L.P. in the 2nd quarter valued at $351,000. 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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