Greystone Housing Impact Investors LP (NYSE:GHI) Sees Significant Drop in Short Interest

Key Points

• Greystone Housing Impact Investors LP experienced a significant decrease in short interest, dropping by 72.4% in August, leaving only 0.0% of its stock short sold.
• Brokerages have revised their price targets for GHI, with Jones Trading lowering it from $13.50 to $11.00 while maintaining a "buy" rating, and JMP Securities decreasing it from $16.00 to $14.00.
• The company recently reported $0.25 EPS for the last quarter, exceeding consensus estimates, although revenue fell short of expectations at $23.59 million.

Greystone Housing Impact Investors LP (NYSE:GHI - Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 5,900 shares, adropof72.4% from the July 31st total of 21,400 shares. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 49,200 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 49,200 shares, the short-interest ratio is presently 0.1 days. Currently,0.0% of the company's stock are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on GHI. Jones Trading dropped their price objective on Greystone Housing Impact Investors from $13.50 to $11.00 and set a "buy" rating on the stock in a report on Monday, August 11th. JMP Securities lowered their target price on shares of Greystone Housing Impact Investors from $16.00 to $14.00 and set a "market outperform" rating for the company in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.00.

Greystone Housing Impact Investors Price Performance

GHI stock traded up $0.05 on Wednesday, hitting $10.78. 40,803 shares of the company's stock traded hands, compared to its average volume of 49,530. Greystone Housing Impact Investors has a 1-year low of $10.12 and a 1-year high of $14.51. The stock has a market cap of $254.19 million, a price-to-earnings ratio of -134.73 and a beta of 0.58. The stock has a fifty day moving average of $11.07 and a 200-day moving average of $11.69. The company has a current ratio of 7.93, a quick ratio of 7.93 and a debt-to-equity ratio of 3.85.

Greystone Housing Impact Investors (NYSE:GHI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.17 by $0.08. Greystone Housing Impact Investors had a net margin of 0.98% and a return on equity of 5.63%. The business had revenue of $23.59 million during the quarter, compared to the consensus estimate of $25.65 million. On average, analysts forecast that Greystone Housing Impact Investors will post 1.9 EPS for the current fiscal year.

Greystone Housing Impact Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 11.1%. Greystone Housing Impact Investors's dividend payout ratio is -1,500.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GHI. Raymond James Financial Inc. boosted its position in Greystone Housing Impact Investors by 7.8% in the first quarter. Raymond James Financial Inc. now owns 340,762 shares of the company's stock valued at $4,202,000 after buying an additional 24,707 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Greystone Housing Impact Investors by 9.3% during the first quarter. Royal Bank of Canada now owns 166,134 shares of the company's stock worth $2,048,000 after purchasing an additional 14,163 shares in the last quarter. America First Investment Advisors LLC lifted its position in shares of Greystone Housing Impact Investors by 111.7% during the second quarter. America First Investment Advisors LLC now owns 120,189 shares of the company's stock worth $1,361,000 after purchasing an additional 63,417 shares in the last quarter. Bluefin Capital Management LLC bought a new stake in Greystone Housing Impact Investors in the first quarter valued at approximately $1,272,000. Finally, Stifel Financial Corp increased its stake in Greystone Housing Impact Investors by 4.9% in the fourth quarter. Stifel Financial Corp now owns 51,017 shares of the company's stock valued at $523,000 after purchasing an additional 2,361 shares in the last quarter. Institutional investors own 9.01% of the company's stock.

About Greystone Housing Impact Investors

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.

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