America First Tax Exempt L.P. Receives a Buy from Oppenheimer

By Carrie Williams

Oppenheimer analyst Ben Chittenden assigned a Buy rating to America First Tax Exempt L.P. (NASDAQ: ATAX) yesterday and set a price target of $6. The company’s shares closed yesterday at $5.60.

According to TipRanks.com, Chittenden is a 1-star analyst with an average return of -1.4% and a 49.3% success rate. Chittenden covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and StoneCastle Financial.

America First Tax Exempt L.P. has an analyst consensus of Moderate Buy.

Based on America First Tax Exempt L.P.’s latest earnings report from June 30, the company posted quarterly revenue of $26.45M and quarterly net profit of $10.88M. In comparison, last year the company earned revenue of $13.8M and had a net profit of $2.54M.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATAX in relation to earlier this year. Most recently, in September 2016, Patrick Jung, an Insider at ATAX bought 2,500 shares for a total of $14,925.

America First Multifamily Investors LP engages in the acquisition of a portfolio of mortgage revenue bonds that are issued by state and local housing authorities to provide construction and permanent financing for affordable multifamily and student housing and commercial properties. It operates through the following segments: Mortgage Revenue Bond Investments, Multifamily (MF) Properties, Public Housing Capital (PHC) Fund Trusts, MBS (Mortgage-backed Securities) Securities Investments. The Mortgage Revenue Bond Investments segment consists of the partnership’s portfolio of mortgage revenue bonds which have been issued t provide construction and permanent financing for the residential properties and a commercial property. The MF Properties segment consists of indirect equity interests in multifamily, student housing, and senior citizen residential properties which are not currently financed by mortgage revenue bonds held by partnership but which the partnership eventually intends to finance by such bonds through a restructuring. The Public Housing Capital Fund Trusts segment consists of the assets, liabilities and related income and expenses of the PHC Trusts. The MBS Investments segment of the assets, liabilities and related income and expenses of the MBS Tender Option Bond Trusts. The company was founded on April 2, 1998 and is headquartered in Omaha, NE.