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Our Business Affordable Housing Real Estate Services, our affordable housing real estate service derives revenue from the syndication of partnership interests in properties eligible for low-income housing tax credits, or LIHTCs. Congress could repeal or modify the LIHTC provisions at any time or modify the tax laws so that the value of LIHTC benefits is reduced.
Net margin is thin at 4.56%. This may reflect rising credit costs, rate compression, or operational inefficiency.
Revenue grew 9.1% YoY. However, net income declined 48%, rising credit provisions or expenses may be eating into the top line.
Net income declined 48% YoY, profitability momentum has weakened.
Profitability & Returns
Revenue (TTM)
$1.30B
▲ +9.1% YoY
Net Income (TTM)
$69M
▼ -48.0% YoY
Net Margin
5.33%
P/E
—
Balance Sheet
Total Assets
$6.17B
Equity
$1.72B
Total Debt
$826M
Cash & Equiv.
$193M
5Y CAGR: +3.4%
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