The following is a summary of the Greystone Housing Impact Investors LP (GHI) Q2 2024 Earnings Call Transcript:
Financial Performance:
Greystone Housing Impact Investors reported Q2 2024 net income of $0.19 per unit and $0.27 of cash available for distribution (CAD) per unit.
The company currently holds $1.3 billion in affordable multifamily investments and $158 million in joint venture equity investments.
Greystone announced a regular quarterly cash distribution of $0.37 per unit paid on July 31, 2024.Revenue bond portfolio faced valuation decreases due to rising tax-exempt rates, but it remains primarily a long-term holder of these investments.
Business Progress:
Portfolio health remains strong with ongoing construction projects progressing without major disruptions and physical occupancy at 91.9% for stabilized mortgage revenue bond portfolio.
Actively involved in new and ongoing construction projects demonstrating aggressive capital deployment in line with business growth strategies.
Addressed industry challenges by providing stable, cost-effective capital to clients, through instruments such as the Freddie Mac Tax-exempt loan forward commitment.
The sale of the MRB related to the Vantage at Tombo property indicates active portfolio management.
Opportunities:
Continuous proactive management positions the company well for leveraging favorable market conditions and increasing investor interest in municipal bonds.
Risks:
Exposure to interest rate fluctuations, although largely hedged, could impact net interest income as indicated by the interest rate sensitivity analysis.
More details: Greystone Housing Impact Investors IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
