AMREP (NYSE:AXR) Posts Quarterly Earnings Results

AMREP (NYSE:AXR) released its earnings results on Friday. The business services provider reported $0.76 earnings per share (EPS) for the quarter, reports. AMREP had a return on equity of 5.85% and a net margin of 13.02%. The company had revenue of $19.09 million during the quarter.

AMREP Trading Up 0.9 %

NYSE AXR opened at $22.00 on Friday. AMREP has a 1-year low of $15.38 and a 1-year high of $26.77. The firm’s fifty day simple moving average is $22.22 and its 200-day simple moving average is $21.40. The company has a market capitalization of $116.38 million, a PE ratio of 40.74 and a beta of 0.87.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of AMREP from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st.

Insider Activity at AMREP

In other news, major shareholder James H. Dahl purchased 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $25.60 per share, with a total value of $256,000.00. Following the purchase, the insider now directly owns 415,642 shares of the company’s stock, valued at $10,640,435.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder James H. Dahl purchased 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $25.60 per share, with a total value of $256,000.00. Following the purchase, the insider now owns 415,642 shares in the company, valued at approximately $10,640,435.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James H. Dahl acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $23.15 per share, for a total transaction of $92,600.00. Following the transaction, the insider now owns 427,774 shares of the company’s stock, valued at approximately $9,902,968.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 29,214 shares of company stock valued at $659,029. Insiders own 37.00% of the company’s stock.

Institutional Investors Weigh In On AMREP

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new position in AMREP during the fourth quarter valued at about $119,000. Empowered Funds LLC raised its stake in shares of AMREP by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,772 shares of the business services provider’s stock valued at $878,000 after acquiring an additional 2,800 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Gate City Capital Management LLC bought a new stake in AMREP during the fourth quarter worth approximately $9,505,000. 59.85% of the stock is currently owned by institutional investors.

About AMREP

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.