Greystone Housing Impact Investors (GHI) AI Stock Analysis

• Market Cap: $253.39M
• Dividend Yield: 12.81%
• Average Volume (3M): 42.85K
• Price to Earnings (P/E): 23.6
• Beta (1Y): 0.22
• Revenue Growth: -15.60%
• EPS Growth: -75.87%
• Country: US
• Employees: 1
• Sector: Financial
• Sector Strength: 64
• Industry: Financial - Mortgages
• EPS (TTM): 0.25
• Shares Outstanding: 23,397,436
• 10 Day Avg. Volume: 46,970
• 30 Day Avg. Volume: 42,846
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 5.66
• Enterprise Value/Revenue: 14.02
• Enterprise Value/Gross Profit: 16.27
• Enterprise Value/Ebitda: 30.97
• 1Y Price Target: $16.00
• Price Target Upside: 46.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 64 Neutral
• Price Target: $12.00 ▲(10.09% Upside)

Greystone Housing Impact Investors' overall score reflects a mixed financial performance with strengths in cash flow and operational efficiency but concerns over high leverage and revenue inconsistency. Technical analysis indicates bearish momentum, while the valuation is supported by a high dividend yield. Recent corporate events positively impact liquidity and flexibility, although some strategic challenges remain.

Positive Factors

Credit Quality

The credit quality in the MRB portfolio remains strong with all investments current on interest payments and no requests for forbearance.

Investment Environment

GHI is well-positioned to take advantage of a strong demand for affordable housing and an attractive investment and lending environment.

Joint Ventures

The company recently entered into a new joint venture with BlackRock to provide construction financing on new LIHTC projects, closing the first two transactions.

Negative Factors

Occupancy Rates

Although six of the joint venture projects have stabilized operations, only three have achieved occupancy of 90% or more.

Greystone Housing Impact Investors Business Overview & Revenue Model

Company Description

Greystone Housing Impact Investors (GHI) is a company operating in the real estate sector, focusing primarily on providing affordable housing solutions. The company specializes in the investment and development of multifamily housing projects, particularly those that qualify for federal low-income housing tax credits. GHI aims to address the affordable housing needs in various communities by developing and managing high-quality, cost-effective housing projects.

How the Company Makes Money

Greystone Housing Impact Investors makes money primarily through real estate investment and management. The key revenue streams include rental income from their multifamily housing properties and the monetization of federal low-income housing tax credits. By investing in projects that qualify for these credits, GHI can reduce its tax liability, effectively increasing its profitability. Additionally, GHI might engage in strategic partnerships with government agencies, private investors, and other stakeholders in the housing sector to enhance its investment portfolio and ensure a steady flow of income through property appreciation and management fees.

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, challenges include revenue inconsistency and high leverage, which could impact financial stability.

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

Greystone Housing Impact Investors Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• 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 10.9 is below the 20-day moving average (MA) of 11.19, below the 50-day MA of 11.44, and below the 200-day MA of 11.28, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 37.76 is Neutral, neither overbought nor oversold. The STOCH value of 16.15 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
VEL	68 Neutral	$606.12M	8.62	13.62%	―	32.62%	16.91%
Sector *	67 Neutral	$17.01B	11.60	9.79%	3.95%	10.63%	1.62%
IOR	64 Neutral	$74.96M	17.08	3.69%	―	―	-32.53%
GHI	64 Neutral	$253.39M	23.61	3.32%	12.81%	-15.60%	-75.87%
ONIT	60 Neutral	$310.81M	10.17	7.55%	―	-2.17%	2417.19%
SNFCA	58 Neutral	$219.60M	9.76	7.02%	―	4.96%	12.43%
LDI	48 Neutral	$633.43M	―	-29.48%	―	3.76%	16.19%

Greystone Housing Impact Investors Corporate Events

Greystone Housing Secures New $80M Credit Agreement

On June 30, 2025, Greystone Housing Impact Investors LP entered into a new Credit Agreement with Bankers Trust Company, increasing its line of credit from $50 million to $80 million. This agreement replaces the prior credit agreement and provides temporary financing for investment purchases, with repayments expected from traditional debt financing sources. The new credit line enhances the company’s capital and liquidity management, reflecting strong relationships with bank lenders.

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’ Proposal Fails to Pass

On April 30, 2025, Greystone Housing Impact Investors LP initiated a consent solicitation to amend its 2015 Equity Incentive Plan, aiming to extend its term to June 24, 2027. However, by the expiration of the solicitation on June 16, 2025, the proposal did not receive the necessary majority vote from its beneficial unit certificate holders, with only 34.8% of the votes cast, falling short of the required majority.

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 Amends Credit Facility for Flexibility

On June 12, 2025, Greystone Housing Impact Investors LP amended its existing $50 million secured revolving Line of Credit facility, extending the maturity date to June 2027 and increasing the maximum allowable seniors housing joint venture equity investments to 30% of eligible encumbered assets. This amendment enhances the company’s liquidity and operational flexibility, allowing for more joint venture equity investments in the seniors housing segment. Additionally, a Third Amended and Restated Guaranty was entered into by an affiliate of the Partnership, providing further financial security in case of default.

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 Announces Quarterly Distribution Amidst High Rates

On June 17, 2025, Greystone Housing Impact Investors LP announced a regular quarterly cash distribution of $0.30 per Beneficial Unit Certificate (BUC), to be paid on July 31, 2025, with a record date of June 30, 2025. Additionally, the company listed the Vantage at Fair Oaks, a 288-unit multifamily property in Texas, for sale. The decision to reduce the quarterly distribution reflects the current high interest rate environment, which has impacted the sales of high-quality joint venture properties, particularly in Texas. This move is part of Greystone’s strategy to align with the current operating environment and maintain an attractive distribution yield.

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 Releases 2024 Schedule K-3 Online

On June 10, 2025, Greystone Housing Impact Investors LP announced the availability of the 2024 Schedule K-3 online, which provides international tax information crucial for certain unitholders, including foreign entities and those computing foreign tax credits. This release is significant for stakeholders as it addresses specific tax reporting needs and encourages unitholders to consult with tax advisors for compliance.

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 Reports Q1 2025 Financial Results

On May 8, 2025, Greystone Housing Impact Investors LP reported its financial results for the first quarter of 2025, highlighting total revenues of $25.1 million and a net income of $0.11 per Beneficial Unit Certificate (BUC). The company advanced funds on MRB and GIL investments, issued $20 million in Series B Preferred Units, and executed notable transactions including the sale of Vantage at Tomball. Despite challenges in the multifamily markets due to macroeconomic and interest rate volatility, the company remains optimistic about opportunities, supported by a new joint venture with BlackRock for construction lending.