Greystone Housing Impact Investors LP Beneficial Unit Certificates representing assignments of limited partnership interests (GHI)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at Greystone Housing Impact Investors as a specialized lender holding mortgage revenue bonds for affordable multifamily, student housing, seniors and market-rate ventures. At the close on 2026-10-13 the price was $4.90, market cap $115.5 million, and the FairStock P/B was 0.44—less than half accounting book. That can be an opportunity, but only if book value is real. The record is not reassuring. Revenue fell from $104.9 million in fiscal year 2023 to $91.3 million in fiscal year 2024 to $85.4 million in fiscal year 2025, the year ended 2025-12-31. Net income went from $54.0 million in fiscal year 2023 to $21.3 million in fiscal year 2024, then a loss of $7.6 million in fiscal year 2025, or diluted EPS of -$0.52. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was $1.3 million; in fiscal Q2 2026, the quarter ended 2026-06-30, it was a loss of $1.5 million, or diluted EPS -$0.11. The given Lynch category is TURNAROUND, and it fits. FairStock calculations show ROE -0.53%, ROCE -0.14%, and D/E 2.74, so leverage is high and returns are negative. The 9.38% dividend yield is attractive but not clearly covered by earnings. There may be niche expertise in government-related housing bonds, but no wide moat; credit, rates and prepayments rule. The P/B of 0.44 and FairStock score of 34/100 capture a cheap-looking but fragile situation. Missing bank-specific measures such as CET1, net interest margin and credit quality leave the risk hard to judge. I would call it a speculative turnaround, not a safe bargain.

In plain English: Greystone Housing Impact Investors lends money through mortgage bonds tied to apartments, student housing and senior housing. The business is weak right now: it lost money in its latest full year and in the latest reported quarter. The stock price is very low compared with the value of its assets after debts, but that cheapness comes with high debt and a dividend that may not be safe.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer