Financial Results in Focus: America First Multifamily Investors, L.P. (NASDAQ: ATAX)

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America First Multifamily Investors, L.P. (ATAX) ended at $6.35. The stock’s market capitalization arrived at $0.56 and total traded volume was 74,096 shares. The stock has a 52-week highest price of $5.85 and its 52-week lowest price was called at $6.36. During last trade, its maximum trading price was registered $6.50 and it’s the minimum trading price was noted $5.85.

America First Multifamily Investors, L.P. (NASDAQ: ATAX) stated the following results for the first quarter ended March 31, 2018:

Total assets of $1.03B;

Total Mortgage Revenue Bond investments of $756.0M;

Total revenue of $16.5M;

Net income, basic and diluted, of 0.09 per Unit; and

Cash Accessible for Distribution of $0.10 per Unit.

The Joint Venture stated the following notable transactions during the first quarter of 2018:

Increased its Investment in unconsolidated entities by $12.3M;

Redemptions of three Mortgage Revenue Bonds for about $10.4M; and

Entered into a Commercial Purchase and Sale Contract to sell its Jade Park MF Property.

The average true range of America First Multifamily Investors, L.P.’s (ATAX) is recorded at 0.09 and the relative strength index of the stock stands 46.07. The stock price is going above to its 52 week low with 8.55% and lagging behind from its 52 week high with -2.31%. Analyst recommendation for this stock stands at 3.00. A look on the firm performance, its monthly performance is -0.78% and a quarterly performance of 2.83%. The stock price is trading upbeat from its 200 days moving average with 2.55% and down from 50 days moving average with -0.09%.

During the first quarter 2018, the Joint Venture increased its total revenue to $16.5M, from $16.0M in the first quarter 2017.  The increase was predominantly Because of a raise of about $1.9M in investment income., which was partially offset by a reduction in property revenues Because of MF Property sales during 2017.  “We are happy with the performance of our investments and the increase in income we have stated,” stated Chad Daffer, Chief Executive Officer of America First Multifamily Investors, L.P.

In December 2017, the Joint Venture initiated an At the Market (“ATM”) offering to sell up to $75.0M of Beneficial Unit Certificates (“BUCs”) at prevailing market prices on the date of sale.  The Joint Venture sold an additional 38,617 BUCs under the ATM Program for net proceeds of about $192,000, net of issuance costs, in January 2018.  On March 16, 2018, the Joint Venture terminated the ATM offering.

Chad Daffer, Chief Executive Office of America First Multifamily Investors said that the company is happy happy with the results of the ATM offering and provides the Joint Venture with another option in its liquidity stack and allows the company  to raise capital without price dilution and at substantially reduced issuance costs

Disclosure Regarding Non-GAAP Measures

This report refers to Cash Accessible for Distribution (“CAD”), which is identified as a non-GAAP financial measure.  The Joint Venture utilizes CAD as a means to determine our ability to make distributions to unitholders.  We believe CAD provides relevant information about our operations and is necessary together with net income for understanding our operating results.  Net income is the GAAP measure most comparable to CAD.  There is no generally accepted methodology for computing CAD, and our computation of CAD may not be comparable to CAD stated by other companies.  Although we consider CAD to be a useful measure of our operating performance, CAD is a non-GAAP measure and should not be considered as an alternative to net income or net cash flows from operating activities which are calculated in accordance with GAAP, or any other measures of financial performance or liquidity presented in accordance with GAAP.  See the table at the end of this press release for a reconciliation of our net income as determined in accordance with GAAP and our CAD for the periods set forth.

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