Greystone Housing Impact Investors LP (NYSE:GHI) to Issue $0.37 Quarterly Dividend

Greystone Housing Impact Investors LP (NYSE:GHI) announced a quarterly dividend on Monday, September 16th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.37 per share on Thursday, October 31st. This represents a $1.48 annualized dividend and a yield of 10.85%. The ex-dividend date of this dividend is Monday, September 30th.

Greystone Housing Impact Investors has increased its dividend by an average of 18.5% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Greystone Housing Impact Investors has a payout ratio of 82.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Greystone Housing Impact Investors to earn $1.77 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 83.6%.

Greystone Housing Impact Investors Trading Up 0.8 %

Greystone Housing Impact Investors stock opened at $13.64 on Friday. The company has a market cap of $317.68 million, a price-to-earnings ratio of 7.20 and a beta of 0.68. The firm has a 50-day moving average of $13.98 and a 200-day moving average of $14.87. The company has a debt-to-equity ratio of 3.36, a current ratio of 13.29 and a quick ratio of 13.29. Greystone Housing Impact Investors has a one year low of $13.30 and a one year high of $17.55.

Greystone Housing Impact Investors (NYSE:GHI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.15). The company had revenue of $21.97 million during the quarter, compared to analyst estimates of $25.57 million. Greystone Housing Impact Investors had a net margin of 32.12% and a return on equity of 6.90%. During the same period in the previous year, the company posted $0.85 EPS. On average, equities analysts expect that Greystone Housing Impact Investors will post 1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Raymond James cut their price target on Greystone Housing Impact Investors from $18.50 to $17.50 and set an “outperform” rating for the company in a report on Monday, August 12th. Janney Montgomery Scott started coverage on shares of Greystone Housing Impact Investors in a research note on Thursday, August 1st. They set a “buy” rating and a $17.00 target price for the company.

Greystone Housing Impact Investors Company Profile

Greystone Housing Impact Investors LP acquires, holds, sells, and deals in a portfolio of mortgage revenue bonds (MRBs) that are issued to provide construction and/or permanent financing for multifamily, student, and senior citizen housing; skilled nursing properties; and commercial properties in the United States.