America First Multifamily Investors (ATAX) Lowered to “Hold” at BidaskClub

America First Multifamily Investors (NASDAQ:ATAX) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of America First Multifamily Investors from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Wednesday, March 7th. Oppenheimer reissued a “hold” rating on shares of America First Multifamily Investors in a research note on Friday, March 2nd. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. America First Multifamily Investors currently has an average rating of “Hold” and a consensus price target of $6.50.

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Shares of ATAX opened at $6.18 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 4.25 and a current ratio of 4.25. The firm has a market capitalization of $374.32, a price-to-earnings ratio of 14.03 and a beta of 0.35. America First Multifamily Investors has a 1 year low of $5.55 and a 1 year high of $6.40.

America First Multifamily Investors (NASDAQ:ATAX) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.17. The company had revenue of $32.47 million for the quarter, compared to analysts’ expectations of $17.47 million. America First Multifamily Investors had a net margin of 37.79% and a return on equity of 10.06%. equities research analysts expect that America First Multifamily Investors will post 0.33 EPS for the current year.

America First Multifamily Investors declared that its board has authorized a share buyback program on Friday, March 2nd that authorizes the company to buyback 270,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Several large investors have recently bought and sold shares of ATAX. Citadel Advisors LLC acquired a new position in shares of America First Multifamily Investors during the 3rd quarter worth $113,000. Fiduciary Trust Co. acquired a new position in shares of America First Multifamily Investors during the 4th quarter worth $103,000. California Public Employees Retirement System acquired a new position in shares of America First Multifamily Investors during the 4th quarter worth $349,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of America First Multifamily Investors by 3.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 300,288 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 9,797 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in shares of America First Multifamily Investors during the 4th quarter worth $112,000. 6.66% of the stock is currently owned by institutional investors and hedge funds.

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America First Multifamily Investors Company Profile

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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