America First Multifamily Investors (ATAX) Upgraded at BidaskClub

BidaskClub upgraded shares of America First Multifamily Investors (NASDAQ:ATAX) from a hold rating to a buy rating in a research note released on Wednesday.

A number of other research analysts also recently issued reports on ATAX. Zacks Investment Research downgraded shares of America First Multifamily Investors from a buy rating to a hold rating in a research note on Tuesday, July 10th. Oppenheimer reiterated a hold rating on shares of America First Multifamily Investors in a research note on Monday, August 13th. ValuEngine downgraded shares of America First Multifamily Investors from a hold rating to a sell rating in a research note on Saturday, August 18th. Finally, TheStreet downgraded shares of America First Multifamily Investors from a b- rating to a c+ rating in a research note on Friday, September 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. America First Multifamily Investors presently has a consensus rating of Hold and a consensus price target of $7.25.

Shares of America First Multifamily Investors stock opened at $5.72 on Wednesday. America First Multifamily Investors has a 52-week low of $5.17 and a 52-week high of $6.50. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 2.19. The company has a market capitalization of $347.00 million, a P/E ratio of 13.00 and a beta of 0.25.

America First Multifamily Investors (NASDAQ:ATAX) last issued its quarterly earnings results on Monday, August 13th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). America First Multifamily Investors had a return on equity of 9.35% and a net margin of 34.37%. The firm had revenue of $15.79 million during the quarter, compared to analysts’ expectations of $17.88 million.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were paid a $0.125 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.50 dividend on an annualized basis and a yield of 8.74%. America First Multifamily Investors’s dividend payout ratio is currently 113.64%.

In other news, Director Lisa Y. Roskens sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $5.87, for a total transaction of $49,895.00. Following the completion of the sale, the director now owns 100,069 shares in the company, valued at approximately $587,405.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad L. Daffer acquired 20,000 shares of America First Multifamily Investors stock in a transaction dated Friday, August 17th. The shares were bought at an average price of $5.64 per share, with a total value of $112,800.00. Following the transaction, the chief executive officer now directly owns 309,101 shares in the company, valued at approximately $1,743,329.64. The disclosure for this purchase can be found here. Insiders purchased 29,603 shares of company stock valued at $168,794 in the last quarter. 1.30% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. First Allied Advisory Services Inc. lifted its position in shares of America First Multifamily Investors by 3.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 229,625 shares of the financial services provider’s stock worth $1,457,000 after buying an additional 7,995 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of America First Multifamily Investors by 7.7% during the 3rd quarter. Wells Fargo & Company MN now owns 180,476 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 12,881 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of America First Multifamily Investors during the 1st quarter worth approximately $102,000. Creative Planning lifted its position in shares of America First Multifamily Investors by 30.0% during the 3rd quarter. Creative Planning now owns 82,927 shares of the financial services provider’s stock worth $473,000 after buying an additional 19,127 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of America First Multifamily Investors by 30.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 89,426 shares of the financial services provider’s stock worth $510,000 after buying an additional 20,790 shares during the last quarter. Institutional investors and hedge funds own 7.04% of the company’s stock.

America First Multifamily Investors Company Profile

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.

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