AMREP (NYSE:AXR) Announces Earnings Results

Key Points

• AMREP (NYSE:AXR) reported a quarterly earnings per share (EPS) of $0.87, with a return on equity of 10.11% and a net margin of 25.59%.
• The company's stock price fell $0.69 to $20.82 after trading 20,563 shares, with a market cap of $110.47 million.
• Institutional investors own 59.85% of AMREP's stock, with notable buying activity from Empowered Funds LLC and Jane Street Group LLC during the first quarter.

AMREP (NYSE:AXR - Get Free Report) released its quarterly earnings results on Tuesday. The business services provider reported $0.87 earnings per share for the quarter, Zacks reports. The firm had revenue of $17.85 million for the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.

AMREP Stock Performance

Shares of AXR stock traded up $1.59 during mid-day trading on Friday, reaching $23.84. 26,729 shares of the company's stock traded hands, compared to its average volume of 9,932. The firm has a market capitalization of $126.61 million, a PE ratio of 9.61 and a beta of 1.15. AMREP has a 12 month low of $17.60 and a 12 month high of $39.67. The firm has a 50 day moving average price of $22.36 and a two-hundred day moving average price of $21.81.

Institutional Trading of AMREP

Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in AMREP in the first quarter worth about $46,000. Jane Street Group LLC increased its holdings in AMREP by 42.1% in the 1st quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider's stock worth $208,000 after acquiring an additional 3,077 shares in the last quarter. Geode Capital Management LLC raised its stake in AMREP by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider's stock worth $703,000 after acquiring an additional 574 shares during the period. Finally, Empowered Funds LLC lifted its holdings in AMREP by 7.4% during the first 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. Institutional investors own 59.85% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded AMREP from a "hold" rating to a "buy" rating in a research report on Saturday.

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.