America First Multifamily Investors (ATAX) Downgraded to C+ at TheStreet
ATAX has been the topic of several other research reports. Zacks Investment Research cut America First Multifamily Investors from a hold rating to a sell rating in a report on Thursday, August 16th. BidaskClub upgraded America First Multifamily Investors from a sell rating to a hold rating in a report on Thursday, June 28th. ValuEngine cut America First Multifamily Investors from a hold rating to a sell rating in a report on Saturday, August 18th. Finally, Oppenheimer restated a hold rating on shares of America First Multifamily Investors in a report on Monday, August 13th. Three equities research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The stock currently has an average rating of Sell and an average price target of $7.25.
Shares of NASDAQ:ATAX opened at $5.75 on Friday. America First Multifamily Investors has a one year low of $5.25 and a one year high of $6.50. The company has a debt-to-equity ratio of 2.19, a quick ratio of 4.68 and a current ratio of 4.68. The firm has a market cap of $347.60 million, a price-to-earnings ratio of 13.07 and a beta of 0.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 8.70%. The ex-dividend date is Thursday, September 27th. America First Multifamily Investors’s dividend payout ratio (DPR) is 113.64%.
In other news, CEO Chad L. Daffer bought 20,000 shares of America First Multifamily Investors stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $112,800.00. Following the completion of the acquisition, the chief executive officer now owns 309,101 shares of the company’s stock, valued at $1,743,329.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lisa Y. Roskens sold 8,500 shares of America First Multifamily Investors stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $5.87, for a total value of $49,895.00. Following the completion of the transaction, the director now owns 100,069 shares in the company, valued at approximately $587,405.03. The disclosure for this sale can be found here. Insiders have bought 29,603 shares of company stock worth $168,794 in the last 90 days. Insiders own 1.30% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new position in America First Multifamily Investors in the first quarter valued at $102,000. Bank of Montreal Can acquired a new position in America First Multifamily Investors in the second quarter valued at $143,000. Private Advisor Group LLC acquired a new position in America First Multifamily Investors in the second quarter valued at $147,000. Cavalier Investments LLC acquired a new position in America First Multifamily Investors in the first quarter valued at $223,000. Finally, LPL Financial LLC boosted its holdings in America First Multifamily Investors by 347.6% in the first quarter. LPL Financial LLC now owns 85,040 shares of the financial services provider’s stock valued at $525,000 after acquiring an additional 66,040 shares during the last quarter. Hedge funds and other institutional investors own 7.02% of the company’s stock.
About America First Multifamily Investors
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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