Jones Trading Cuts Greystone Housing Impact Investors (NYSE:GHI) Price Target to $11.00

Key Points

• Jones Trading has lowered its price target for Greystone Housing Impact Investors (NYSE:GHI) from $13.50 to $11.00 while maintaining a "buy" rating, indicating a potential upside of 6.17% from the previous close.
• JMP Securities has also reduced their target price on GHI from $16.00 to $14.00 and assigned a "market outperform" rating.
• Greystone Housing Impact Investors reported $0.25 earnings per share, surpassing consensus estimates, but revenue for the quarter came in below expectations at $23.59 million.

Greystone Housing Impact Investors (NYSE:GHI - Get Free Report) had its target price cut by equities researchers at Jones Trading from $13.50 to $11.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jones Trading's price objective indicates a potential upside of 5.27% from the stock's previous close.

Separately, JMP Securities decreased their price target on Greystone Housing Impact Investors from $16.00 to $14.00 and set a "market outperform" rating on the stock in a research note on Friday, August 8th.

Greystone Housing Impact Investors Trading Up 0.1%

NYSE GHI traded up $0.01 during mid-day trading on Monday, reaching $10.45. 21,192 shares of the stock were exchanged, compared to its average volume of 54,870. Greystone Housing Impact Investors has a 1-year low of $10.12 and a 1-year high of $14.51. The business's fifty day simple moving average is $11.37 and its 200 day simple moving average is $11.84. The stock has a market capitalization of $246.39 million, a PE ratio of -130.60 and a beta of 0.61. The company has a debt-to-equity ratio of 3.85, a quick ratio of 9.97 and a current ratio of 7.93.

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

Hedge Funds Weigh In On Greystone Housing Impact Investors

Several hedge funds and other institutional investors have recently modified their holdings of GHI. Raymond James Financial Inc. lifted its position in Greystone Housing Impact Investors by 7.8% during the 1st quarter. Raymond James Financial Inc. now owns 340,762 shares of the company's stock worth $4,202,000 after acquiring 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 acquired a new position in shares of Greystone Housing Impact Investors during the first quarter worth $1,272,000. Finally, Stifel Financial Corp lifted its holdings in Greystone Housing Impact Investors by 4.9% in the 4th quarter. Stifel Financial Corp now owns 51,017 shares of the company's stock worth $523,000 after buying an additional 2,361 shares in the last quarter. 9.01% of the stock is owned by institutional investors and hedge funds.

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.