America First Tax Exempt Investors L.P.

America First Tax Exempt Investors L.P. is a NASDAQ listed security that has been trading in a range between $7.24 and $8.75 over the past year. With 13,062,930 shares outstanding, a recent price of $7.90 gives a total market capitalization of $104,372,808. While there are certainly larger companies, America First Tax Exempt Investors L.P. has definitely earned its place in the pack. Last year, America First Tax Exempt Investors L.P. created $1.31 in earnings for every share outstanding.

America First Tax Exempt Investors L.P. is currently priced by the market at 59.50 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.

With a share price under $50 a share and earnings per share in excess of $1 a share, America First Tax Exempt Investors L.P. could be an interesting value proposition. Consistent earnings are the key to high valuations and this security is well on its way.