AMREP (NYSE:AXR) Releases Quarterly Earnings Results

AMREP (NYSE:AXR) released its earnings results on Friday. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.39), FiscalAI reports. AMREP had a net margin of 19.47% and a return on equity of 7.47%. The business had revenue of $6.05 million for the quarter, compared to the consensus estimate of $14.27 million.

AMREP Trading Up 0.1%

Shares of NYSE AXR traded up $0.03 during trading hours on Friday, reaching $23.00. The stock had a trading volume of 13,660 shares, compared to its average volume of 9,275. AMREP has a 52-week low of $17.61 and a 52-week high of $29.01. The firm has a market cap of $122.45 million, a price-to-earnings ratio of 12.10 and a beta of 1.10. The business’s fifty day moving average price is $23.74 and its two-hundred day moving average price is $25.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded AMREP from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insider Activity

In other AMREP news, CFO Adrienne Uleau sold 4,000 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $23.49, for a total transaction of $93,960.00. Following the transaction, the chief financial officer owned 6,574 shares of the company’s stock, valued at approximately $154,423.26. This trade represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James H. Dahl purchased 3,075 shares of AMREP stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $25.58 per share, with a total value of $78,658.50. Following the acquisition, the insider owned 501,708 shares in the company, valued at approximately $12,833,690.64. This represents a 0.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in AMREP during the first quarter valued at approximately $46,000. Barclays PLC lifted its holdings in AMREP by 781.7% during the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after buying an additional 2,478 shares during the period. Jane Street Group LLC boosted its position in AMREP by 42.1% during the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 3,077 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of AMREP in the 3rd quarter valued at $453,000. Finally, Susquehanna International Group LLP raised its position in shares of AMREP by 36.2% in the 3rd quarter. Susquehanna International Group LLP now owns 21,989 shares of the business services provider’s stock worth $526,000 after acquiring an additional 5,840 shares in the last quarter. 59.85% of the stock is currently owned by institutional investors.

About AMREP

AMREP Corporation (NYSE: AXR) is a Denver-area based company specializing in land development and natural resource management. Since its founding in 1961, AMREP has built a diversified platform that spans real estate operations and resource extraction, serving both individual and institutional clients in the western United States.

Through its real estate segment, AMREP Southwest Inc acquires, develops and markets residential lots in planned communities across New Mexico and Colorado. Notable projects include the Tanoan Country Club and adjacent residential neighborhoods near Albuquerque, where the company employs a direct-to-consumer marketing model to reach out-of-state and local buyers.