Zacks Investment Research upgraded shares of America First Multifamily Investors (NASDAQ:ATAX) from a sell rating to a hold rating in a research report released on Tuesday.

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. “

Separately, BidaskClub upgraded America First Multifamily Investors from a sell rating to a hold rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average target price of $6.38.

Shares of America First Multifamily Investors (NASDAQ:ATAX) remained flat at $$6.15 on Tuesday. The stock had a trading volume of 42,181 shares, compared to its average volume of 82,857. The firm has a market cap of $370.56, a PE ratio of 21.21 and a beta of 0.43. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 2.18. America First Multifamily Investors has a one year low of $5.35 and a one year high of $6.25.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.13%. The ex-dividend date is Thursday, December 28th. America First Multifamily Investors’s payout ratio is presently 172.41%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATAX. Citadel Advisors LLC purchased a new position in shares of America First Multifamily Investors in the 3rd quarter valued at approximately $113,000. Investment Centers of America Inc. bought a new position in America First Multifamily Investors during the 3rd quarter valued at approximately $103,000. Wells Fargo & Company MN increased its position in America First Multifamily Investors by 4.2% during the 2nd quarter. Wells Fargo & Company MN now owns 202,431 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 8,201 shares in the last quarter. Royal Bank of Canada increased its position in America First Multifamily Investors by 1.6% during the 2nd quarter. Royal Bank of Canada now owns 319,303 shares of the financial services provider’s stock valued at $1,900,000 after buying an additional 5,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in America First Multifamily Investors 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 buying an additional 265 shares in the last quarter. Institutional investors own 6.66% of the company’s stock.

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About America First Multifamily Investors

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.

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