America First Multifamily Investors LP (NASDAQ:ATAX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $6.38 and last traded at $6.35, with a volume of 94161 shares trading hands. The stock had previously closed at $6.35.
Several research firms recently commented on ATAX. Oppenheimer restated a “hold” rating on shares of America First Multifamily Investors in a research note on Friday, March 2nd. BidaskClub upgraded shares of America First Multifamily Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of America First Multifamily Investors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. America First Multifamily Investors presently has a consensus rating of “Hold” and a consensus target price of $6.50.
The company has a current ratio of 4.25, a quick ratio of 4.65 and a debt-to-equity ratio of 2.05. The stock has a market cap of $380.35, a P/E ratio of 14.49 and a beta of 0.36.
America First Multifamily Investors announced that its Board of Directors has initiated a share repurchase program on Friday, March 2nd that permits the company to buyback 270,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its stake in America First Multifamily Investors by 3.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 300,288 shares of the financial services provider’s stock worth $1,817,000 after buying an additional 9,797 shares in the last quarter. Renaissance Technologies LLC grew its stake in America First Multifamily Investors by 6.8% during the fourth quarter. Renaissance Technologies LLC now owns 235,312 shares of the financial services provider’s stock worth $1,424,000 after buying an additional 15,019 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in America First Multifamily Investors during the fourth quarter worth about $103,000. Investment Centers of America Inc. acquired a new stake in America First Multifamily Investors during the third quarter worth about $103,000. Finally, Wedbush Securities Inc. acquired a new stake in America First Multifamily Investors during the fourth quarter worth about $112,000. Hedge funds and other institutional investors own 6.75% of the company’s stock.
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America First Multifamily Investors 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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