AMREP (NYSE:AXR) Releases Earnings Results

AMREP (NYSE:AXR) announced its quarterly earnings results on Thursday. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01, FiscalAI reports. AMREP had a net margin of 22.86% and a return on equity of 7.98%. The company had revenue of $14.57 million during the quarter, compared to the consensus estimate of $14.03 million.

AMREP Stock Performance

Shares of NYSE:AXR traded down $0.26 during mid-day trading on Thursday, reaching $23.32. 2,525 shares of the company’s stock were exchanged, compared to its average volume of 4,729. AMREP has a twelve month low of $17.60 and a twelve month high of $28.71. The firm has a market capitalization of $123.83 million, a price-to-earnings ratio of 11.96 and a beta of 1.41. The business’s fifty day moving average price is $22.61 and its 200-day moving average price is $22.32.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, major shareholder James H. Dahl bought 3,200 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average cost of $25.69 per share, with a total value of $82,208.00. Following the transaction, the insider directly owned 470,398 shares in the company, valued at approximately $12,084,524.62. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 23,682 shares of company stock valued at $568,565 in the last three months. Corporate insiders own 37.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in shares of AMREP by 7.4% during the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after purchasing an additional 3,344 shares in the last quarter. Jane Street Group LLC increased its holdings in AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after purchasing an additional 3,077 shares in the last quarter. Acadian Asset Management LLC acquired a new position in AMREP in the first quarter valued at approximately $46,000. Geode Capital Management LLC lifted its stake in AMREP by 1.7% in the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider’s stock valued at $703,000 after buying an additional 574 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of AMREP during the 3rd quarter worth approximately $453,000. 59.85% of the stock is owned by institutional investors and hedge funds.

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.