Greystone Housing Impact Investors LP (GHI): fair value, margin of safety and Wheel Score

Is GHI undervalued?

At 4.72 (close of 5 Nov 2026), GHI trades 64% below the GLS average fair value of 12.99. That average comes from 2 models run on the latest filings, and 2 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Greystone Housing Impact Investors LP the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

Only 2 of the nine models produced a value (10 Cap, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.

The nightly engine files GHI under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).

Nine valuation models for GHI

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

Financial health is weak: GHI passes 4 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is 5.1 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.

Returns on capital are thin or negative - ROIC -0.5%, ROE -2.0%, ROA -0.5% - with debt at 2.89 times equity and a free-cash-flow yield of 16.1%. Debt of 2.89 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.

The dividend yield is high at 14.19% (payout ratio -686%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from M F Properties 54%, Seniors and Skilled Nursing Mortgage Re… 35%, Market Rate Joint Venture Investments 11% (quarter Q2 FY2026).

Institutional ownership scores 1/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 1 Sep 2026.

Wheel Score 34: Weak

GHI scores 34 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 6, no serious red flags - Red Flags score 50 (under 60); and filter 7, a premium worth selling - implied volatility 88% (over 80%); and filter 8, big enough - market cap $111M (under $1.0B); and filter 9, not a penny stock - price 4.72 (under $5), and the parts are thin too - value strong, premium fair, moat fair, health fair, red flags weak, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.

Implied volatility is 88%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is thin - 1,414 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.

Volume runs at 41k shares a day on a market cap of $111M, with a beta of 0.72 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

Greystone Housing Impact Investors LP reports earnings on 9 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Financial - Mortgages

The 12 companies below are the closest to Greystone Housing Impact Investors LP by market cap within the Financial - Mortgages industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

⚖ Compare GHI with 7 of them   All Financial Services stocks →