Greystone Housing Impact Investors LP acquires, holds, (GHI) Fair Value & Analysis
Financial Services · US · Market cap $122M
Greystone Housing Impact Investors LP acquires, holds,
GHI · US
Fair value as of: Jul 26, 2026
From 3 valuation models · updated 15 days ago
Fair value updated Jul 26, 2026, revised from $11.46 to $10.24 (−10.6%) since Jun 26, 2026. Share price +6.5% over the past month.
Below-average quality, screening 78% undervalued on our models.
What matters now
- The price is below even our cautious bear case ($5.91). The market is more pessimistic than our downside scenario.
- Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range ($5.91 to $13.64) leaves room in how you read the outcome.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $4.77 – $13.38 · fair‑value band $5.91 – $13.64 · the $5.75 price screens below the $10.24 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Greystone Housing Impact Investors LP acquires, holds, (GHI) currently trades at $5.75, while our model-based Fair Value estimate is $10.24, implying the stock looks roughly 78.1% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, Greystone Housing Impact Investors LP acquires, holds, generated revenue of $25.2M at a net margin of -30.9%. Revenue declined 15.6% year over year. It earns a return on equity of -2.0%. Net debt stands at $1.1B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $5.91 (bear case) to $13.64 (bull case); at $5.75, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -25% fair-value upside, at 78%, GHI screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 3 models by family
Widest divergence: Dividend Discount ($16.75) versus Asset-Based ($10.79). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 29
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Greystone Housing Impact Investors LP acquires, holds, sells, and deals mortgage revenue bonds that are issued to provide construction and permanent financing for multifamily, student housing, residential properties, and commercial properties in the United States.
Full company description
Greystone Housing Impact Investors LP acquires, holds, sells, and deals mortgage revenue bonds that are issued to provide construction and permanent financing for multifamily, student housing, residential properties, and commercial properties in the United States. It operates through four segments: Affordable Multifamily Investments; Seniors and Skilled Nursing Investments; Market-Rate Joint Venture Investments; and MF Properties. The company also invests in governmental issuer loans. 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. Greystone Housing Impact Investors LP was incorporated in 1998 and is based in Omaha, Nebraska.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Greystone Housing Impact Investors LP acquires, holds, reported revenue of $72.4M in FY2025 versus $84.0M in FY2021, a compound −3.6%/yr. Reported net income was −$7.6M in FY2025.
of which total revenue +11.8 pp · buybacks/dilution −1.5 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch GHI: get an alert when its fair value changes →
Peer Group
Mortgage Finance · 90 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Mortgage Finance median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Mortgage Finance stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Federal Home Loan Mortgage Corporation FMCCT | $13.90 | $27.80 | +100% |
| Rocket Companies, Inc RKT | $14.60 | $10.95 | -25% |
| Federal National Mortgage Association FNMAS | $9.55 | $1.93 | -80% |
| Bajaj Housing Finance Limited BAJAJHFL | ₹91.33 | ₹61.48 | -33% |
| PennyMac Financial Services, Inc PFSI | $82.35 | $125.45 | +52% |
| UWM Holdings UWMC | $2.02 | $0.2200 | -89% |
| LIC Housing Finance Limited LICHSGFIN | ₹505.00 | ₹1,010 | +100% |
| PNB Housing Finance Limited PNBHOUSING | ₹1,150 | ₹762.89 | -34% |
| Aadhar Housing Finance Limited AADHARHFC | ₹496.70 | ₹501.16 | +1% |
| Walker & Dunlop, Inc WD | $48.20 | $32.55 | -32% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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