NEW YORK CITY-Third quarter earnings for America First Mortgage Investments have been reported at $3,297,927, or 37 cents per common share. Its annualized yield on average interest earnings was 6.92% and the cost of financing on the average repurchase balance 6.62%. Last year’s Q3 yield came in at 6.22%, the financing cost at 5.21%.

The REIT closed on the sale of a multifamily property near Baltimore during the quarter and expects to invest the proceeds in a similar complex. The transaction will be treated as a tax-deferred, like-kind exchange.

During the last 15 months, the firm has repurchased more than 204,000 shares of its common stock at an average price of $4.94 as part of its 400,000 share buyback program.

America First has increased its dividend, payable to Oct. 16 shareholders of record on Nov. 17, to $0.155 per share. Commenting on the increase, Stewart Zimmerman, president and chief executive officer, notes that, “This reflects our belief that short-term interest rates are likely to remain stable through the next quarter and hopefully into the next year. We are happy to have weathered a period of rising short-term interest rates.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.