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

Greystone Housing Impact Investors LP (NYSE:GHI - Get Free Report) announced a quarterly dividend on Monday, December 16th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.37 per share on Friday, January 31st. This represents a $1.48 annualized dividend and a yield of 14.04%. The ex-dividend date is Tuesday, December 31st.

Greystone Housing Impact Investors has raised its dividend by an average of 18.5% per year 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 tumble. Equities research 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 Price Performance

Shares of NYSE:GHI traded down $0.39 on Tuesday, hitting $10.54. The company's stock had a trading volume of 264,447 shares, compared to its average volume of 57,103. The company has a market capitalization of $245.48 million, a PE ratio of 17.00 and a beta of 0.69. The company has a debt-to-equity ratio of 3.36, a current ratio of 10.78 and a quick ratio of 10.78. The company has a 50-day simple moving average of $12.08 and a 200 day simple moving average of $13.51. Greystone Housing Impact Investors has a 1 year low of $10.32 and a 1 year high of $17.55.

Greystone Housing Impact Investors (NYSE:GHI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.43). The company had revenue of $24.35 million for the quarter, compared to the consensus estimate of $23.64 million. Greystone Housing Impact Investors had a net margin of 17.55% and a return on equity of 2.46%. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Sell-side analysts forecast that Greystone Housing Impact Investors will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JMP Securities reduced their target price on Greystone Housing Impact Investors from $19.00 to $17.50 and set a "market outperform" rating on the stock in a research note 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.