Zacks Investment Research downgraded shares of America First Multifamily Investors, L.P. (NASDAQ:ATAX) from a hold rating to a sell rating in a research report report 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. “

A number of other analysts also recently issued reports on the stock. UBS AG downgraded shares of America First Multifamily Investors, L.P. to a market perform rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. downgraded shares of America First Multifamily Investors, L.P. from an outperform rating to a market perform rating in a report on Friday, September 1st. TheStreet downgraded shares of America First Multifamily Investors, L.P. from a b- rating to a c+ rating in a report on Friday, August 25th. Finally, BidaskClub downgraded shares of America First Multifamily Investors, L.P. from a buy rating to a hold rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $6.38.

America First Multifamily Investors, L.P. (NASDAQ ATAX) remained flat at $$6.05 on Friday. The company had a trading volume of 100,200 shares, compared to its average volume of 90,914. The company has a debt-to-equity ratio of 2.18, a quick ratio of 5.29 and a current ratio of 4.65. America First Multifamily Investors, L.P. has a 1-year low of $5.10 and a 1-year high of $6.25. The firm 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 announced its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $16.24 million for the quarter, compared to analyst estimates of $17.04 million. America First Multifamily Investors, L.P. had a return on equity of 6.69% and a net margin of 30.73%. equities research analysts expect that America First Multifamily Investors, L.P. will post 0.28 earnings per share for the current fiscal year.

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

In other news, CEO Chad L. Daffer purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was acquired at an average price 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 $1,432,476.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought a total of 24,019 shares of company stock valued at $148,719 in the last 90 days. Insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ATAX. Creative Planning increased its holdings in America First Multifamily Investors, L.P. by 7.5% in the 2nd quarter. Creative Planning now owns 121,950 shares of the financial services provider’s stock valued at $726,000 after purchasing an additional 8,471 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in America First Multifamily Investors, L.P. by 0.4% in 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. Girard Partners LTD. acquired a new stake in America First Multifamily Investors, L.P. in the 2nd quarter valued at approximately $351,000. Oppenheimer & Co. Inc. increased its holdings in America First Multifamily Investors, L.P. by 1.2% in 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. Finally, Wells Fargo & Company MN increased its holdings in America First Multifamily Investors, L.P. by 4.2% in 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 purchasing an additional 8,201 shares during the last quarter. Hedge funds and other institutional investors own 6.66% of the company’s stock.

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.

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