Oppenheimer analyst Ben Chittenden maintained a Hold rating on America First Tax Exempt LP (NASDAQ: ATAX) today. The company’s shares opened today at $6.25.
Chittenden said:
“ATAX reported 2Q18 net income to limited partners of $0.04 vs. our $0.09 estimate. On a CAD (cash available for distribution) basis ATAX reported $0.09 vs. our $0.13 estimate and the dividend of $0.125. To be fair, we were looking for the Jade Park property sale to have generated a gain this quarter, but even excluding that assumption, revenues came in slightly weaker than expected while expenses were slightly higher. The quarter’s weakness continues to put into perspective the dependency of property sales in order to generate enough CAD to fully cover the dividend. While property sales are certainly a lever in management control, we would like to see the “core” business trend toward covering the distribution before getting more excited about the stock.”
According to TipRanks.com, Chittenden is a 3-star analyst with an average return of 1.7% and a 54.7% success rate. Chittenden covers the Financial sector, focusing on stocks such as Discover Financial Services, Credit Acceptance Corp, and Santander Consumer USA.
The word on The Street in general, suggests a Hold analyst consensus rating for America First Tax Exempt LP.
See today’s analyst top recommended stocks >>
America First Tax Exempt LP’s market cap is currently $383.9M and has a P/E ratio of 15.24. The company has a Price to Book ratio of 1.32.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
