America First Multifamily Investors LP (NASDAQ:ATAX) announced a quarterly dividend on Friday, September 14th, Wall Street Journal reports. Stockholders of record on Friday, September 28th will be paid a dividend of 0.125 per share by the financial services provider on Wednesday, October 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date of this dividend is Thursday, September 27th.
America First Multifamily Investors has a dividend payout ratio of 161.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of ATAX remained flat at $$5.85 during trading hours on Wednesday. 18,592 shares of the stock were exchanged, compared to its average volume of 79,430. The stock has a market capitalization of $347.60 million, a price-to-earnings ratio of 13.28 and a beta of 0.31. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 2.19. America First Multifamily Investors has a 12-month low of $5.25 and a 12-month high of $6.50.
A number of brokerages have recently weighed in on ATAX. TheStreet lowered shares of America First Multifamily Investors from a “b-” rating to a “c+” rating in a report on Friday, September 21st. BidaskClub lowered shares of America First Multifamily Investors from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 19th. ValuEngine lowered shares of America First Multifamily Investors from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Zacks Investment Research lowered shares of America First Multifamily Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. Finally, Oppenheimer reissued a “hold” rating on shares of America First Multifamily Investors in a report on Monday, August 13th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $7.25.
In other America First Multifamily Investors news, Director Lisa Y. Roskens purchased 5,965 shares of the stock in a transaction on Monday, August 27th. The shares were bought at an average cost of $5.95 per share, with a total value of $35,491.75. Following the completion of the acquisition, the director now owns 100,069 shares in the company, valued at $595,410.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad L. Daffer purchased 20,000 shares of the stock in a transaction on Friday, August 17th. The stock was acquired at an average cost 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 approximately $1,743,329.64. The disclosure for this purchase can be found here. Insiders have bought 29,603 shares of company stock worth $168,794 over the last three months. Corporate insiders own 1.30% 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.
See Also: Leveraged Buyout (LBO)
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