AMREP (NYSE:AXR) Stock Rating Lowered by Freedom Capital

AMREP (NYSE:AXR) was downgraded by investment analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

AMREP Stock Up 4.5%

AXR stock opened at $27.41 on Tuesday. AMREP has a 52 week low of $17.60 and a 52 week high of $29.00. The company has a fifty day simple moving average of $25.27 and a two-hundred day simple moving average of $22.93. The firm has a market capitalization of $145.53 million, a P/E ratio of 11.42 and a beta of 1.23.

AMREP (NYSE:AXR) last released its quarterly earnings data on Thursday, March 12th. The business services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. AMREP had a net margin of 24.40% and a return on equity of 9.58%. The business had revenue of $14.57 million during the quarter, compared to analyst estimates of $14.03 million.

Insider Buying and Selling at AMREP

In other news, major shareholder James H. Dahl bought 2,060 shares of AMREP stock in a transaction dated Tuesday, March 31st. The shares were acquired at an average price of $27.92 per share, with a total value of $57,515.20. Following the completion of the purchase, the insider owned 476,458 shares in the company, valued at $13,302,707.36. The trade was a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 29,742 shares of company stock valued at $731,280 over the last quarter. Corporate insiders own 37.20% of the company’s stock.

Institutional Investors Weigh In On AMREP

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC increased its stake in AMREP by 781.7% in the 4th 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. Crossingbridge Advisors LLC increased its stake in AMREP by 30.0% in the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after buying an additional 15,000 shares during the period. Dimensional Fund Advisors LP increased its stake in AMREP by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 195,226 shares of the business services provider’s stock worth $3,670,000 after buying an additional 527 shares during the period. AlphaCentric Advisors LLC purchased a new position in AMREP in the 4th quarter worth about $1,222,000. Finally, Robotti Robert increased its stake in AMREP by 0.8% in the 4th quarter. Robotti Robert now owns 521,765 shares of the business services provider’s stock worth $9,809,000 after buying an additional 4,327 shares during the period. Hedge funds and other institutional investors own 59.85% of the company’s stock.

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.