AMREP (NYSE:AXR) Posts Quarterly Earnings Results

AMREP (NYSE:AXR) announced its earnings results on Friday. The business services provider reported $0.75 earnings per share for the quarter, Zacks reports. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

AMREP Price Performance

Shares of NYSE AXR traded up $0.72 during mid-day trading on Friday, hitting $36.42. The company had a trading volume of 42,154 shares, compared to its average volume of 15,087. AMREP has a 12 month low of $15.88 and a 12 month high of $39.67. The firm has a market cap of $192.66 million, a P/E ratio of 20.69 and a beta of 0.92. The business’s 50-day simple moving average is $32.60 and its 200-day simple moving average is $25.90.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of AMREP from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Activity at AMREP

In other news, major shareholder James H. Dahl acquired 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of $30.75 per share, with a total value of $92,250.00. Following the acquisition, the insider now owns 430,774 shares of the company’s stock, valued at $13,246,300.50. This trade represents a 0.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 6,800 shares of company stock worth $205,560 over the last three months. Company insiders own 37.60% of the company’s stock.

AMREP Company Profile

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.