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 78th percentile in terms of potential gain offered. Specifically, our DCF analysis implies the stock is trading below its fair value by an estimated 414.5%. As for the metrics that stood out in our discounted cash flow analysis of America First Multifamily Investors Lp, consider:
As a business, ATAX is generating more cash flow than merely 10.35% of positive cash flow stocks in the Financial Services.
30% of the company's capital comes from equity, which is greater than merely 14.32% of stocks in our cash flow based forecasting set.
America First Multifamily Investors Lp's effective tax rate, as measured by taxes paid relative to net income, is at 0 -- greater than only 22.47% 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 UNM, FNF, MMAC, FAF, and CUII.
America First Multifamily Investors (ATAX) reported average rental collections rates of 93% and 90% for May and June 2020, respectively.There have been no forbearance requests from properties securing the partnership’s multifamily mortgage revenue bond portfolio.Source: Press Release...
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.