Greystone Housing Impact Investors price target lowered to $14 at Citizens JMP

Investing.com - Citizens JMP lowered its price target on Greystone Housing Impact Investors LP (NYSE:GHI) stock to $14.00 from $16.00 on Thursday, while maintaining a Market Outperform rating. According to InvestingPro data, the stock currently offers an impressive 11.7% dividend yield and has maintained dividend payments for 40 consecutive years.

The price target reduction follows the release of Greystone Housing’s second-quarter results, with the new target representing an 8.6% required yield applied to projected next-twelve-month total BUC distributions of $1.20. Technical indicators from InvestingPro suggest the stock is currently in oversold territory, trading near its 52-week low of $10.12.

The firm noted that Greystone Housing continues a steady pace of capital deployment and is expanding its construction lending joint venture with the addition of a new investor.

Citizens JMP’s price target of $14 equals 1.18 times the June 30 book value per share of $11.83, and represents a potential 36.6% upside from the August 7 closing price of $10.25.

The partnership hosted its second-quarter earnings conference call on Thursday at 4:30 p.m. ET.

In other recent news, Greystone Housing Impact Investors LP has announced significant developments concerning its financial arrangements and analyst evaluations. The company secured an $80 million revolving line of credit with five financial institutions, marking a 60% increase from its previous $50 million credit agreement. This new credit line, administered by Bankers Trust Company, aims to support the company’s future endeavors. Additionally, Greystone has amended its existing $50 million credit facility, extending its maturity date to June 2027 and allowing more flexibility in senior housing joint venture investments.

Analyst Chris Muller from JMP Securities maintained a Market Outperform rating for Greystone Housing Impact Investors, with a $16.00 price target following the company’s first-quarter earnings release. Muller emphasized Greystone’s active role in affordable housing and its strategic capital deployment, predicting a $0.08 per Beneficial Unit Certificate gain in the second quarter from the sale of Vantage at Helotes. The analyst’s price target is based on a 9.3% yield requirement, reflecting potential positive returns for investors. These updates highlight Greystone’s strategic financial management and continued focus on the affordable housing sector.

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