Greystone Housing Impact Investors (GHI) AI Stock Analysis

• Market Cap: $201.87M
• Dividend Yield: 15.65%
• Average Volume (3M): 83.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.17
• Revenue Growth: -7.67%
• EPS Growth: -106.54%
• Country: US
• Employees: 1
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Mortgages
• EPS (TTM): 0.25
• Shares Outstanding: 23,582,453
• 10 Day Avg. Volume: 129,387
• 30 Day Avg. Volume: 83,232
• PEG Ratio: -0.18
• Price to Book (P/B): 0.62
• Price to Sales (P/S): 2.33
• P/FCF Ratio: 13.14
• Enterprise Value/Market Cap: 6.81
• Enterprise Value/Revenue: 13.50
• Enterprise Value/Gross Profit: 15.68
• Enterprise Value/Ebitda: 39.72
• 1Y Price Target: $12.50
• Price Target Upside: 46.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 52 Neutral
• Price Target: $9.00 ▲(5.14% Upside)

Greystone Housing Impact Investors' overall stock score reflects a challenging financial environment with mixed earnings call sentiment and bearish technical indicators. While there are positive aspects in cash flow and joint ventures, high leverage and valuation concerns weigh heavily on the score.

Positive Factors

Positive Cash Flow Trends

Positive operating cash flow trends indicate strong cash generation from core operations, enhancing liquidity and financial stability.

Strategic Partnerships

Partnerships like the one with BlackRock expand GHI's investment capacity, leveraging external expertise and capital for growth in affordable housing.

Successful Real Estate Transactions

Successful property sales enhance liquidity and demonstrate effective asset management, contributing to financial flexibility and investment potential.

Negative Factors

High Leverage

High leverage increases financial risk, potentially impacting stability during economic downturns and limiting strategic flexibility.

Inconsistent Revenue Growth

Inconsistent revenue growth can signal volatility in business performance, affecting long-term planning and investor confidence.

GAAP Net Loss

Sustained net losses can erode equity and investor trust, challenging the company's ability to fund operations and growth initiatives.

Greystone Housing Impact Investors Business Overview & Revenue Model

Company Description

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 and student housing residential properties and commercial properties. It operates through four segments: Affordable Multifamily MRB Investments, Seniors and Skilled Nursing MRB Investments, MF Properties, Market-Rate Joint Venture Investments. The company was formerly known as America First Multifamily Investors, L.P. and changed its name to Greystone Housing Impact Investors LP in December 2022. The company was incorporated in 1998 and is based in Omaha, Nebraska.

How the Company Makes Money

Greystone Housing Impact Investors generates revenue primarily through the origination and management of real estate loans and investments in affordable housing projects. The company earns interest income from the loans it provides to developers and operators of affordable housing, as well as fees associated with loan origination and servicing. Additionally, GHI may receive returns from equity investments in housing projects, which can include profit participation and dividends from successful developments. Strategic partnerships with government agencies, non-profit organizations, and private investors further enhance GHI's capacity to finance housing initiatives, creating a robust revenue model driven by both interest and equity returns.

Greystone Housing Impact Investors Financial Statement Overview

Summary

Greystone Housing Impact Investors shows mixed financial performance. While operational efficiency and cash flow generation are strengths, revenue inconsistency and high leverage pose risks. The high debt-to-equity ratio and inconsistent revenue growth are notable concerns.

Income Statement

Greystone Housing Impact Investors shows a mixed performance in its income statement. The company has experienced fluctuations in revenue, with a significant increase in 2024. However, the gross profit margin and net profit margin have shown inconsistency, indicating potential volatility in profitability. The EBIT and EBITDA margins are relatively stable, suggesting operational efficiency, but the overall revenue growth rate has been inconsistent over the years.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, which may pose a risk if not managed carefully. The return on equity (ROE) is positive, indicating that the company is generating returns on its equity. However, the equity ratio is relatively low, suggesting that the company is more leveraged, which could impact financial stability during economic downturns.

Cash Flow

The cash flow statement shows a positive trend in operating cash flow, which is a good indicator of the company's ability to generate cash from its operations. The free cash flow growth rate is positive, indicating an improvement in cash generation. However, the free cash flow to net income ratio suggests that not all net income is translating into free cash flow, which could be a concern for liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	101.84M	101.31M	38.18M	90.41M	62.01M	35.73M
Gross Profit	87.69M	40.00M	134.25M	-4.65B	55.29M	28.57M
EBITDA	34.63M	21.38M	118.97M	106.39M	0.00	0.00
Net Income	1.74M	21.32M	54.01M	65.56M	38.10M	7.21M
Balance Sheet
Total Assets	1.48T	1.58B	1.51B	1.57B	1.39B	1.18B
Cash, Cash Equivalents and Short-Term Investments	47.47B	14.70M	600.00K	51.19M	68.29M	44.50M
Total Debt	0.00	1.16B	714.23M	1.11B	892.62M	699.94M
Total Liabilities	1.10T	1.20B	1.08B	1.15B	919.04M	721.05M
Stockholders Equity	376.21B	383.43M	431.19M	418.12M	466.11M	453.26M
Cash Flow
Free Cash Flow	10.35B	17.99M	24.14M	19.32M	33.78M	15.42M
Operating Cash Flow	10.36B	17.99M	24.94M	21.13M	33.94M	15.84M
Investing Cash Flow	61.25B	-105.20M	53.56M	-278.60M	-187.47M	-38.14M
Financing Cash Flow	-38.49B	70.78M	-123.40M	198.18M	182.47M	102.11M

Greystone Housing Impact Investors Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GHI, the sentiment is Negative. The current price of 8.56 is below the 20-day moving average (MA) of 9.78, below the 50-day MA of 10.18, and below the 200-day MA of 10.91, indicating a bearish trend. The MACD of -0.42 indicates Positive momentum. The RSI at 14.52 is Positive, neither overbought nor oversold. The STOCH value of 0.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GHI.

Greystone Housing Impact Investors Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNFCA	―	$215.30M	9.47	6.65%	―	5.49%	4.30%
VEL	―	$719.95M	8.57	15.02%	―	35.12%	25.28%
Sector *	―	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
IOR	―	$73.80M	17.20	3.52%	―	―	-32.51%
GHI	―	$201.87M	-104.90	0.35%	15.65%	-7.67%	-106.54%
CNF	―	$31.14M	―	―	―	―	―
ONIT	―	$312.86M	9.89	7.55%	―	-2.84%	2420.57%

Greystone Housing Impact Investors Corporate Events

Greystone Housing Secures $5M from Preferred Units Sale

On October 9, 2025, Greystone Housing Impact Investors LP issued 500,000 Series B Preferred Units to ServisFirst Bank, generating $5 million in proceeds. These funds will be used to acquire mortgage revenue bonds for financing affordable housing and other investments. This issuance is part of the company’s strategy to secure non-dilutive, fixed-rate capital to benefit its unitholders and pursue further financial institution investments.

The most recent analyst rating on (GHI) stock is a Hold with a $10.50 price target. To see the full list of analyst forecasts on Greystone Housing Impact Investors stock, see the GHI Stock Forecast page.

Greystone Announces Quarterly Cash Distribution for BUC Holders

On September 16, 2025, Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.30 per Beneficial Unit Certificate (BUC) to be paid on October 31, 2025. This decision reflects the company’s ongoing evaluation of its financial performance and commitment to its BUC holders, amidst various economic and geopolitical uncertainties that could impact its operations and market conditions.

The most recent analyst rating on (GHI) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Greystone Housing Impact Investors stock, see the GHI Stock Forecast page.

Greystone Housing Impact Investors LP Earnings Call: Mixed Results Amid Market Challenges

Greystone Housing Impact Investors LP’s recent earnings call painted a mixed picture, reflecting both progress and challenges. While the company made strides in joint ventures and credit facility capacity, it faced hurdles such as a GAAP net loss, credit losses, and a decrease in book value. The underperformance of the municipal bond market further compounded these concerns.

Greystone Housing Reports Q2 2025 Financial Results

In the second quarter of 2025, Greystone Housing Impact Investors LP reported total revenues of $23.6 million and a net loss of $7.1 million. The company made significant transactions, including $47.6 million in advances and acquisitions and $70.6 million in redemptions and sales. They also extended the maturity of credit lines, increasing borrowing capacity by $30 million, and received a $60 million capital commitment for a construction lending joint venture. The company remains focused on investments in low-income housing tax credit projects and is monitoring legislative impacts on its operations.

The most recent analyst rating on (GHI) stock is a Buy with a $17.50 price target. To see the full list of analyst forecasts on Greystone Housing Impact Investors stock, see the GHI Stock Forecast page.

Greystone Housing Impact Investors LP Reports Q2 2025 Results

Greystone Housing Impact Investors LP is a company that primarily invests in mortgage revenue bonds to provide financing for affordable housing projects, operating in the real estate investment sector. In its latest earnings report for the second quarter of 2025, Greystone Housing Impact Investors LP reported a net loss of $7.1 million, equivalent to $0.35 per Beneficial Unit Certificate (BUC). Despite the loss, the company declared a regular quarterly distribution of $0.30 per BUC, demonstrating its commitment to returning value to its investors. Key financial metrics revealed a total asset base of $1.48 billion, with significant investments in Mortgage Revenue Bonds and Governmental Issuer Loans totaling $1.13 billion. The company also reported cash available for distribution of $5.7 million, or $0.25 per BUC. Strategic initiatives included extending the maturity dates of corporate credit lines and increasing borrowing capacity by $30 million, alongside securing an additional $60 million capital commitment for a construction lending joint venture. Looking ahead, Greystone Housing Impact Investors LP remains focused on expanding its portfolio in the affordable housing sector, leveraging its strengthened financial position to capitalize on new investment opportunities.