Greystone Housing Impact Investors LP (NYSE:GHI) Sees Large Increase in Short Interest

Key Points

• Short interest surged 240.6% to 293,729 shares as of March 31, representing about 1.3% of shares sold short and a days-to-cover ratio of 1.0, signaling a sharp rise in bearish bets.
• The company missed quarterly estimates (EPS $0.12 vs. $0.60 expected; revenue $17.15M vs. $24.35M) and declared a reduced quarterly dividend of $0.14 (10.8% yield) with a payout ratio of -147%.
• Analyst sentiment is mixed-to-negative after several downgrades and cuts; the consensus rating is a “Hold” with an average target price of $9.50.

Greystone Housing Impact Investors LP (NYSE:GHI - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 293,729 shares, a growth of 240.6% from the March 15th total of 86,228 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 306,675 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GHI shares. Citizens Jmp downgraded Greystone Housing Impact Investors from an "outperform" rating to a "market perform" rating in a research report on Friday, March 20th. JonesTrading lowered their target price on Greystone Housing Impact Investors from $9.00 to $7.00 and set a "buy" rating on the stock in a report on Friday, March 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Greystone Housing Impact Investors in a research report on Monday, December 29th. Finally, Wall Street Zen cut Greystone Housing Impact Investors from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.50.

Institutional Investors Weigh In On Greystone Housing Impact Investors

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Greystone Housing Impact Investors by 16.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,727 shares of the company's stock worth $99,000 after acquiring an additional 1,250 shares during the period. Larson Financial Group LLC raised its position in Greystone Housing Impact Investors by 3.6% in the fourth quarter. Larson Financial Group LLC now owns 44,565 shares of the company's stock worth $307,000 after purchasing an additional 1,549 shares in the last quarter. Samalin Investment Counsel LLC lifted its stake in Greystone Housing Impact Investors by 8.3% during the third quarter. Samalin Investment Counsel LLC now owns 50,386 shares of the company's stock worth $519,000 after purchasing an additional 3,845 shares during the period. Advisory Services Network LLC bought a new position in Greystone Housing Impact Investors during the third quarter worth about $69,000. Finally, Corient Private Wealth LLC acquired a new stake in Greystone Housing Impact Investors during the fourth quarter valued at approximately $71,000. Institutional investors own 9.01% of the company's stock.

Greystone Housing Impact Investors Stock Performance

GHI stock traded up $0.16 during trading on Friday, reaching $5.19. 153,818 shares of the stock were exchanged, compared to its average volume of 237,977. Greystone Housing Impact Investors has a twelve month low of $4.71 and a twelve month high of $12.70. The company has a current ratio of 9.25, a quick ratio of 9.25 and a debt-to-equity ratio of 3.95. The company has a market capitalization of $122.26 million, a P/E ratio of -13.64 and a beta of 0.70. The stock has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $7.51.

Greystone Housing Impact Investors (NYSE:GHI - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). Greystone Housing Impact Investors had a negative net margin of 5.95% and a positive return on equity of 6.13%. The firm had revenue of $17.15 million during the quarter, compared to analyst estimates of $24.35 million. As a group, sell-side analysts anticipate that Greystone Housing Impact Investors will post 1.9 earnings per share for the current year.

Greystone Housing Impact Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.56 dividend on an annualized basis and a yield of 10.8%. Greystone Housing Impact Investors's payout ratio is currently -147.37%.

About Greystone Housing Impact Investors

Greystone Housing Impact Investors NYSE: GHI is a publicly traded real estate investment trust focused on financing and preserving affordable and sustainable rental housing in the United States. As the country's first social‐impact REIT dedicated to housing, GHI aims to deliver stable, long‐term cash flows to its shareholders while supporting underserved communities through strategic capital deployment.

The company originates, underwrites and manages a diversified portfolio of first‐mortgage loans secured by multifamily residential properties, with an emphasis on workforce, affordable and mixed‐income developments.

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