Greystone Housing Impact Investors LP (GHI) AI Stock Analysis

Greystone Housing Impact Investors LP focuses on acquiring, holding, selling, and managing a diversified portfolio of mortgage revenue bonds issued to finance multifamily, student housing, and commercial properties. The company operates through four segments: Affordable Multifamily MRB Investments, Seniors and Skilled Nursing MRB Investments, MF Properties, and Market-Rate Joint Venture Investments. Originally known as America First Multifamily Investors, L.P., it rebranded to Greystone Housing Impact Investors LP in December 2022. Headquartered in Omaha, Nebraska, the partnership finances affordable housing, senior living, and market-rate developments.

Revenue grew at a 5-year CAGR of 4.9% from FY2020 to FY2025, reaching $145.3M in FY2023 before decreasing 31.2% in FY2024 to $100.0M and falling 27.6% in FY2025 to $72.4M. Operating margin deteriorated to -9.4% in FY2025, yielding net income of -$7.6M, a net margin of -10.5%, and an EPS of $0.46. Over the trailing twelve months, revenue was $33.2M with an operating margin of -5.9%. For the quarter ended June 30, 2026, quarterly revenue grew 2513.1% year-over-year, while quarterly earnings contracted 88.5%.

As of June 30, 2026, cash and short-term investments were $56,248 alongside total debt of $990.4M, resulting in net debt of $990.4M and a debt-to-equity ratio of 2.70. Shareholders' equity totaled $366.2M against total assets of $1.39B, with a current ratio of 3.67. In FY2025, operating cash flow and free cash flow both reached $37.5M, while capital expenditures were $3. Cash usage included $35.7M in dividends paid, supplemented by $25.0M from share issuance.

GHI trades at a forward P/E of 6.8x, below the 10.8x median of its US-listed Financial Services peers. Its price-to-book ratio is 0.5x, and its price-to-sales multiple is 3.5x compared to the peer median of 3.2x. Enterprise value stands at $1.19B, leading to an EV/EBITDA of 14.1x versus the peer median of 11.7x. Over the trailing 1-year period, GHI fell 42.0% while the S&P 500 (SPY) returned 16.8%. Over 5 years, GHI fell 55.4% compared to an 83.0% gain for the S&P 500.

The partnership pays a quarterly dividend with an annual forward dividend of $0.56, producing a dividend yield of 11.27%. GHI has paid dividends for 41 consecutive years, delivering a 5-year annualized dividend growth rate of 6.0%. The dividend payout ratio stands at 108.1%, and its last ex-dividend date was September 30, 2026.

Wall Street analyst coverage consists of 1 Strong Buy rating, with 0 Buy, 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $7.00, representing a 40.8% premium to the last close of $4.97. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $1.75 on revenue of $93.3M, followed by an EPS estimate of $0.66 for the next fiscal year. GHI logged 0 EPS beats over the last 4 quarters, and the next earnings date is November 5, 2026.

This page is an AI-written research summary of Greystone Housing Impact Investors LP (GHI). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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