Zacks Investment Research lowered shares of America First Multifamily Investors, L.P. (NASDAQ:ATAX) from a hold rating to a sell rating in a research note published on Friday morning.

According to Zacks, “America First Tax Exempt Investors, L.P. is a consistently performing fund with a portfolio of federally tax-exempt mortgage revenue bonds; interest on these bonds is excludable from gross income for federal tax purposes. As a result, most of the income earned by the Partnership is exempt from federal income taxes. “

ATAX has been the subject of several other reports. Oppenheimer Holdings, Inc. set a $6.00 target price on America First Multifamily Investors, L.P. and gave the company a buy rating in a report on Monday, August 7th. BidaskClub cut America First Multifamily Investors, L.P. from a buy rating to a hold rating in a report on Thursday, July 13th. TheStreet cut America First Multifamily Investors, L.P. from a b- rating to a c+ rating in a report on Friday, August 25th. Finally, UBS AG cut America First Multifamily Investors, L.P. to a market perform rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of Hold and a consensus target price of $6.38.

America First Multifamily Investors, L.P. (NASDAQ ATAX) remained flat at $$6.05 on Friday. The stock had a trading volume of 100,200 shares, compared to its average volume of 104,393. America First Multifamily Investors, L.P. has a 12-month low of $5.10 and a 12-month high of $6.25. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $362.52, a PE ratio of 20.17 and a beta of 0.42.

America First Multifamily Investors, L.P. (NASDAQ:ATAX) last posted its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). America First Multifamily Investors, L.P. had a return on equity of 6.69% and a net margin of 30.73%. The firm had revenue of $16.24 million during the quarter, compared to analysts’ expectations of $17.04 million. equities analysts anticipate that America First Multifamily Investors, L.P. will post 0.28 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “America First Multifamily Investors, L.P. (ATAX) Cut to “Sell” at Zacks Investment Research” was reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/america-first-multifamily-investors-l-p-atax-cut-to-sell-at-zacks-investment-research/1700210.html.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 8.26%. The ex-dividend date was Thursday, September 28th. America First Multifamily Investors, L.P.’s dividend payout ratio is presently 166.67%.

In related news, CEO Chad L. Daffer bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $6.17 per share, for a total transaction of $123,400.00. Following the acquisition, the chief executive officer now directly owns 232,168 shares of the company’s stock, valued at approximately $1,432,476.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 24,019 shares of company stock valued at $148,719 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATAX. Oppenheimer & Co. Inc. raised its position in America First Multifamily Investors, L.P. by 1.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 17,319 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 208 shares during the last quarter. Investment Centers of America Inc. bought a new position in America First Multifamily Investors, L.P. during the 3rd quarter valued at approximately $103,000. Citadel Advisors LLC bought a new position in America First Multifamily Investors, L.P. during the 3rd quarter valued at approximately $113,000. Girard Partners LTD. bought a new position in America First Multifamily Investors, L.P. during the 2nd quarter valued at approximately $351,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in America First Multifamily Investors, L.P. by 0.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 66,650 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 265 shares during the last quarter. 6.65% of the stock is owned by institutional investors and hedge funds.

About America First Multifamily Investors, L.P.

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.

Get a free copy of the Zacks research report on America First Multifamily Investors, L.P. (ATAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for America First Multifamily Investors L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for America First Multifamily Investors L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.