AMREP (NYSE:AXR) Announces Quarterly Earnings Results

Key Points

• AMREP missed earnings expectations, reporting quarterly EPS of $0.23 versus the $0.43 consensus estimate. Revenue also came in below forecasts at $11.02 million compared with $12.36 million expected.
• The stock traded down 1.1% to $25.12 after the report. AMREP’s market cap is about $133.3 million, and the shares remain near their 50-day and 200-day moving averages.
• Insider and institutional activity has been notable: major shareholder James H. Dahl bought 3,075 shares, and insiders have purchased 21,231 shares over the past 90 days. Meanwhile, institutional investors own about 59.85% of the stock, and analysts currently have a consensus rating of Hold.

AMREP (NYSE:AXR - Get Free Report) released its earnings results on Friday. The business services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.20), FiscalAI reports. The business had revenue of $11.02 million during the quarter, compared to analyst estimates of $12.36 million. AMREP had a net margin of 24.40% and a return on equity of 9.58%.

AMREP Trading Down 1.1%

AXR stock traded down $0.28 during trading on Friday, hitting $25.12. The company had a trading volume of 1,115 shares, compared to its average volume of 8,834. The business has a 50 day moving average of $25.68 and a 200 day moving average of $25.15. The firm has a market capitalization of $133.29 million, a price-to-earnings ratio of 10.47 and a beta of 1.12. AMREP has a fifty-two week low of $17.61 and a fifty-two week high of $29.01.

Insider Activity at AMREP

In other news, major shareholder James H. Dahl bought 3,075 shares of the business's stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $25.58 per share, with a total value of $78,658.50. Following the purchase, the insider directly owned 501,708 shares in the company, valued at $12,833,690.64. This trade represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 21,231 shares of company stock valued at $556,625. 37.20% of the stock is owned by insiders.

Institutional Trading of AMREP

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in shares of AMREP by 7.4% in the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider's stock valued at $968,000 after buying an additional 3,344 shares during the period. Jane Street Group LLC raised its stake in shares of AMREP by 42.1% during the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock worth $208,000 after buying an additional 3,077 shares during 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 boosted 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 acquiring an additional 574 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in AMREP in the third quarter valued at approximately $453,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AXR. Freedom Capital downgraded AMREP from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of AMREP from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised shares of AMREP from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

AMREP Company Profile

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.

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