America First Multifamily Investors (ATAX) Downgraded by BidaskClub

BidaskClub lowered shares of America First Multifamily Investors (NASDAQ:ATAX) from a buy rating to a hold rating in a research note published on Friday.

Several other research firms also recently issued reports on ATAX. Zacks Investment Research upgraded America First Multifamily Investors from a hold rating to a buy rating and set a $7.00 price objective on the stock in a report on Wednesday, March 7th. Oppenheimer restated a hold rating on shares of America First Multifamily Investors in a report on Friday, March 2nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.50.

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ATAX stock opened at $6.18 on Friday. The company has a current ratio of 4.25, a quick ratio of 4.25 and a debt-to-equity ratio of 2.05. America First Multifamily Investors has a 52-week low of $5.55 and a 52-week high of $6.40. The company has a market cap of $372.81, a price-to-earnings ratio of 14.03 and a beta of 0.35.

America First Multifamily Investors (NASDAQ:ATAX) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. America First Multifamily Investors had a return on equity of 10.06% and a net margin of 37.79%. The company had revenue of $32.47 million for the quarter, compared to the consensus estimate of $17.47 million. equities analysts forecast that America First Multifamily Investors will post 0.33 EPS for the current fiscal year.

America First Multifamily Investors announced that its Board of Directors has authorized a share buyback plan on Friday, March 2nd that permits the company to repurchase 270,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.50 annualized dividend and a yield of 8.10%. America First Multifamily Investors’s dividend payout ratio is presently 113.64%.

Several hedge funds and other institutional investors have recently modified their holdings of ATAX. Citadel Advisors LLC bought a new stake in shares of America First Multifamily Investors in the 3rd quarter valued at approximately $113,000. Fiduciary Trust Co. bought a new stake in shares of America First Multifamily Investors in the 4th quarter valued at approximately $103,000. California Public Employees Retirement System bought a new stake in shares of America First Multifamily Investors in the 4th quarter valued at approximately $349,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of America First Multifamily Investors by 3.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 300,288 shares of the financial services provider’s stock valued at $1,817,000 after acquiring an additional 9,797 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of America First Multifamily Investors in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 6.66% of the company’s stock.

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About America First Multifamily Investors

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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