AMREP (NYSE:AXR) Downgraded by Wall Street Zen to Hold

Key Points

• AMREP has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, signaling a cautious stance from analysts regarding the stock.
• The stock currently trades at $23.45 with a market cap of $124.52 million, and has reported an EPS of $0.87 for the last quarter.
• Institutional investors have increased their stakes in AMREP, with notable increases from Robotti Robert (4.6%) and Gate City Capital Management LLC (271.0%).

AMREP (NYSE:AXR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of AMREP in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

AMREP Trading Down 2.9%

AMREP stock opened at $23.45 on Friday. The stock has a market cap of $124.52 million, a P/E ratio of 9.46 and a beta of 1.26. The stock has a 50 day moving average of $23.14 and a 200-day moving average of $22.20. AMREP has a 52 week low of $17.60 and a 52 week high of $39.67.

AMREP (NYSE:AXR - Get Free Report) last released its earnings results on Tuesday, September 9th. The business services provider reported $0.87 EPS for the quarter. The company had revenue of $17.85 million during the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.

Institutional Investors Weigh In On AMREP

Several institutional investors have recently made changes to their positions in AXR. Robotti Robert raised its stake in shares of AMREP by 4.6% in the 1st quarter. Robotti Robert now owns 524,407 shares of the business services provider's stock valued at $10,514,000 after acquiring an additional 22,990 shares in the last quarter. Cerity Partners LLC increased its position in shares of AMREP by 8.1% during the first quarter. Cerity Partners LLC now owns 171,124 shares of the business services provider's stock valued at $3,431,000 after purchasing an additional 12,767 shares during the period. Cresset Asset Management LLC increased its position in shares of AMREP by 0.4% during the first quarter. Cresset Asset Management LLC now owns 129,718 shares of the business services provider's stock valued at $2,601,000 after purchasing an additional 488 shares during the period. Truffle Hound Capital LLC increased its position in shares of AMREP by 129.0% during the second quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider's stock valued at $2,397,000 after purchasing an additional 64,524 shares during the period. Finally, Gate City Capital Management LLC grew its position in AMREP by 271.0% in the second quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider's stock valued at $2,168,000 after acquiring an additional 75,661 shares during the period. 59.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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