Greystone Housing Impact Investors LP (NYSE:GHI) to Issue Quarterly Dividend of $0.37

Greystone Housing Impact Investors LP (NYSE:GHI) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.37 per share on Friday, January 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 14.04%. The ex-dividend date of this dividend is Tuesday, December 31st.

Greystone Housing Impact Investors has raised its dividend payment by an average of 18.5% annually over the last three years. Greystone Housing Impact Investors has a payout ratio of 81.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Greystone Housing Impact Investors to earn $1.90 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 77.9%.

Greystone Housing Impact Investors Stock Performance

Greystone Housing Impact Investors stock traded down $0.39 during midday trading on Tuesday, reaching $10.54. 264,447 shares of the company’s stock were exchanged, compared to its average volume of 57,103. The stock’s 50-day simple moving average is $12.14 and its 200 day simple moving average is $13.54. The firm has a market cap of $245.48 million, a price-to-earnings ratio of 17.56 and a beta of 0.69. The company has a debt-to-equity ratio of 3.36, a quick ratio of 10.78 and a current ratio of 10.78. Greystone Housing Impact Investors has a 52 week low of $10.32 and a 52 week high of $17.55.

Greystone Housing Impact Investors (NYSE:GHI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.43). Greystone Housing Impact Investors had a net margin of 17.55% and a return on equity of 2.46%. The company had revenue of $24.35 million during the quarter, compared to analyst estimates of $23.64 million. During the same quarter last year, the company posted $0.39 EPS. On average, analysts expect that Greystone Housing Impact Investors will post 0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, JMP Securities dropped their target price on shares of Greystone Housing Impact Investors from $19.00 to $17.50 and set a “market outperform” rating for the company in a research report on Thursday, November 7th.

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.