America First Multifamily Investors, L.P. - Beneficial Unit Certificates (BUCs) representing Limited Partnership Interests (ATAX) Company Bio
America First Multifamily Investors, L.P. acquires, holds, sells, and deals in a portfolio of mortgage revenue bonds that have been issued to provide construction and/or permanent financing for multifamily and student housing, and commercial properties. The company was founded in 1998 and is based in Omaha, Nebraska.
ATAX Price Forecast Based on DCF Valuation
DCF Fair Value Target:
Below please find a table outlining a discounted cash flow forecast for ATAX, in which we model out valuation assuming a variety of terminal growth rates. To summarize, we found that America First Multifamily Investors Lp ranked in the 77th percentile in terms of potential gain offered. More precisely, our analysis suggests the stock is undervalued by approximately 318.33% on a DCF basis. In terms of the factors that were most noteworthy in this DCF analysis for ATAX, they are:
The company's balance sheet shows it gets 34% of its capital from equity, and 66% of its capital from debt. Its equity weight surpasses that of just 15.13% of free cash flow generating stocks in the Financial Services sector.
America First Multifamily Investors Lp's effective tax rate, as measured by taxes paid relative to net income, is at 0 -- greater than only 21.93% of US stocks with positive free cash flow.
Terminal Growth Rate in Free Cash Flow
Return Relative to Current Share Price
For other companies in the Financial Services that have a similar discounted cashflow valuation profile (and ensuing price forecasts) as ATAX, try WRLD, MMAC, OXSQ, EV, and ACGL.
On May 22, 2020, America First Multifamily Investors, L.P. (ATAX) (the “Partnership” or “ATAX”) announced that the Board of Managers of Greystone AF Manager LLC, which is the general partner of America First Capital Associates Limited Partnership Two, the Partnership’s general partner (the “General Partner”), declared a quarterly cash distribution to the Partnership’s Beneficial Unit Certificate (“BUC”) holders of $0.06 per BUC, payable on July 31, 2020 to BUC holders of record as of the close of trading on June 30, 2020. In response to the effects of COVID-19, the Partnership is focusing on maintaining financial flexibility and the optionality to pursue attractive investment opportunities created by the current economic environment for the long-term benefit of its unitholders.
In April 2020, the Partnership terminated its debt financing arrangements with Deutsche Bank AG (“Deutsche Bank”) and entered into replacement debt financing arrangements with Mizuho Capital Markets LLC (“Mizuho”). The Partnership also terminated its Master Trust Agreement with Deutsche Bank and is no longer subject to its financial and non-financial covenant provisions.
America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership” or “ATAX”) announced today that on April 30, 2020, it terminated all of the Partnership’s outstanding debt financing arrangements with Deutsche Bank AG (“Deutsche Bank”). The Partnership repaid outstanding principal totaling approximately $51.8 million that previously had fixed interest rates ranging from 4.01% to 4.53%. In addition, the Partnership terminated its Master Trust Agreement with Deutsche Bank and is no longer subject to its financial and non-financial covenant provisions.
America First Multifamily Investors, L.P. (ATAX) (the “Partnership”) announced today that it will host a conference call for investors on Thursday, May 7, 2020 at 4:30 p.m. Eastern Time to discuss the Partnership’s First Quarter 2020 results. Participants may dial 1-855-854-0934, (International Participants may dial 1-720-634-2907), Conference ID# 5775663 ten minutes before the earnings call is scheduled to begin, to listen to the audio portion only. America First Multifamily Investors, L.P. was formed on April 2, 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable mu...