America First Multifamily Investors, LP (NASDAQ:ATAX – Get a rating) experienced a significant increase in short-term interest in the month of May. As of May 15, there was short interest totaling 142,300 shares, an increase of 30.4% from the April 30 total of 109,100 shares. Based on an average trading volume of 49,800 shares, the day-to-cover ratio is currently 2.9 days. Approximately 0.7% of the company’s shares are sold short.
ATAX stock opened at $18.41 on Tuesday. The company has a debt ratio of 2.76, a quick ratio of 24.97 and a current ratio of 24.97. The company has a market cap of $405.35 million, a price-earnings ratio of 7.93, and a beta of 0.60. America First Multifamily Investors has a fifty-two week low of $16.53 and a fifty-two week high of $21.33. The stock has a fifty-day moving average of $17.75 and a 200-day moving average of $18.84.
America First Multifamily Investors (NASDAQ:ATAX – Get a rating) last released its quarterly results on Thursday, May 5. The financial services provider reported earnings per share (EPS) of $1.03 for the quarter, beating consensus analyst estimates of $0.31 from $0.72. The company posted revenue of $19.21 million in the quarter, versus a consensus estimate of $17.30 million. America First Multifamily Investors achieved a return on equity of 15.99% and a net margin of 78.27%. During the same quarter last year, the company posted EPS of $0.27. Stock analysts predict America First Multifamily Investors will post an EPS of 2.34 for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 29. Shareholders of record on Thursday, March 31 received a dividend of $0.11. The ex-dividend date was Wednesday, March 30. This represents a dividend of $0.44 on an annualized basis and a yield of 2.39%. America First Multifamily Investors’ dividend payout ratio (DPR) is currently 56.89%.
Several hedge funds have recently changed their holdings in the company. PNC Financial Services Group Inc. increased its position in America First Multifamily Investors shares by 10,110.0% during the first quarter. PNC Financial Services Group Inc. now owns 102,100 shares of the financial services provider valued at $618,000 after buying an additional 101,100 shares in the last quarter. Royal Capital Wealth Management LLC bought a new position in shares of America First Multifamily Investors in the fourth quarter worth $422,000. Raymond James & Associates increased its position in America First Multifamily Investors by 11.2% during the fourth quarter. Raymond James & Associates now owns 572,705 shares of the financial services provider valued at $3,682,000 after acquiring an additional 57,732 shares in the last quarter. Royal Bank of Canada increased its position in America First Multifamily Investors by 68.3% during the third quarter. Royal Bank of Canada now owns 135,965 shares of the financial services provider valued at $811,000 after acquiring an additional 55,165 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in America First Multifamily Investors by 56.7% during the third quarter. Cetera Investment Advisers now owns 145,217 shares of the financial services provider valued at $865,000 after acquiring an additional 52,555 shares in the last quarter. Hedge funds and other institutional investors hold 33.31% of the company’s shares.
A number of equity research analysts have recently released reports on the stock. StockNews.com began covering America First Multifamily Investors stocks in a research report on Thursday, March 31. They issued a “hold” rating for the company. JMP Securities reissued a “buy” rating and set a target price of $21.00 on shares of America First Multifamily Investors in a research note on Thursday, May 19. To finish, Zacks Investment Research downgraded America First Multifamily Investors from a “strong buy” rating to a “hold” rating in a Tuesday, May 17 research note. Two research analysts rated the stock with a hold rating and two assigned the company a buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.17.
America First Multifamily Investors Company Profile (Get a rating)
America First Multifamily Investors, LP acquires, holds, sells and trades a portfolio of Mortgage Revenue Bonds (MRBs) which are issued to provide construction and/or permanent financing for multifamily and student housing, as well as residential properties and commercial. It operates through five segments: Affordable Multi-Family MRB Investments, Senior Citizens and Skilled Nurses MRB Investments, MF Properties, Market Rate Joint Venture Investments and Public Housing Capital Fund Trusts.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in America First Multifamily Investors right now?
Before you consider America First Multifamily Investors, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and America First Multifamily Investors didn’t make the list.
While America First Multifamily Investors currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here