Greystone Housing Impact Investors LP Reports Q2 2024 Financial Results
Intellectia.AI Updated: 2024-08-08
Greystone Housing Impact Investors LP Reports Q2 2024 Financial Results
OMAHA, Neb., Aug. 07, 2024 - Greystone Housing Impact Investors LP (NYSE:GHI) announced financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Consensus Estimate |
|---|---|---|
| EPS (BUC) | $0.19 | $0.36 |
| CAD (BUC) | $0.27 | N/A |
Interpretation: Greystone Housing Impact Investors LP missed the consensus estimate for EPS, reporting $0.19 per BUC against the expected $0.36. Revenue figures weren't disclosed in the release, making it impossible to gauge the full impact on earnings.
Revenue Performance by Segment
| Segment | Q2 2024 |
|---|---|
| Mortgage Revenue Bond (MRB) & Governmental Issuer Loan (GIL) Investments | $1.22 billion |
Interpretation: The segment focusing on Mortgage Revenue Bonds and Governmental Issuer Loans shows significant total investments, underscoring the company's committed focus on these high-impact investment areas.
Key Operational Data
| Operational Activity | Q2 2024 |
|---|---|
| Advanced funds on MRB and taxable MRB investments | $83.5 million |
| Advanced funds on GIL and property loan investments | $19.5 million |
| Advanced funds to joint venture equity investments | $11.7 million |
| Received proceeds from the sale of an MRB | $8.2 million |
Management Commentary
"We saw steady performance from our investment portfolio during the second quarter," stated Kenneth C. Rogozinski, CEO of Greystone Housing Impact Investors LP. "The volatility in the fixed income and multifamily capital markets continues to present both challenges and opportunities, but we are staying focused on finding ways to take advantage of the significant investment opportunities that we see in the current market environment. We expect that these opportunities will provide attractive returns for our unitholders."
Dividends and Share Repurchase Program
In June 2024, the Board of Managers declared a regular quarterly distribution of $0.37 per BUC, which was paid on July 31, 2024, to BUC holders of record as of June 28, 2024.
Forward Guidance
The company did not provide specific forward guidance in this release.
Stock Price Movement
Following the earnings release, the stock experienced a 3.42% increase.
In conclusion, while Greystone Housing Impact Investors LP reported steady operational advancements and a regular quarterly distribution, the financial metrics indicate a miss on expected EPS. The market, however, seemed to respond positively to the report, as evidenced by the uptick in stock price post-release.
