BidaskClub upgraded shares of America First Multifamily Investors (NASDAQ:ATAX) from a hold rating to a buy rating in a report published on Saturday, BidAskClub reports.

Shares of ATAX stock opened at $7.36 on Friday. The company has a 50 day moving average of $7.11 and a 200-day moving average of $6.94. The firm has a market cap of $447.15 million, a P/E ratio of 12.33 and a beta of 0.32. America First Multifamily Investors has a 12-month low of $5.17 and a 12-month high of $7.49. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.78.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend was Thursday, June 27th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in shares of America First Multifamily Investors during the second quarter valued at approximately $567,000. Morgan Stanley raised its holdings in shares of America First Multifamily Investors by 10.6% during the second quarter. Morgan Stanley now owns 214,314 shares of the financial services provider’s stock valued at $1,527,000 after purchasing an additional 20,525 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of America First Multifamily Investors by 42.0% during the second quarter. Bank of America Corp DE now owns 90,020 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 26,606 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of America First Multifamily Investors by 14.9% during the second quarter. Private Advisor Group LLC now owns 33,442 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 4,325 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of America First Multifamily Investors by 3.5% during the second quarter. US Bancorp DE now owns 297,703 shares of the financial services provider’s stock valued at $2,120,000 after purchasing an additional 10,000 shares during the last quarter. 7.44% of the stock is owned by institutional investors.

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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