AMREP (NYSE:AXR) Releases Quarterly Earnings Results, Misses Estimates By $0.39 EPS

AMREP (NYSE:AXR) announced its quarterly earnings results on Friday. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.39), FiscalAI reports. The firm had revenue of $6.05 million during the quarter, compared to analyst estimates of $14.27 million. AMREP had a net margin of 19.47% and a return on equity of 7.47%.

AMREP Trading Up 0.1%

Shares of NYSE AXR traded up $0.03 during mid-day trading on Friday, reaching $23.00. 13,660 shares of the company’s stock were exchanged, compared to its average volume of 9,275. AMREP has a twelve month low of $17.61 and a twelve month high of $29.01. The firm has a market capitalization of $122.45 million, a price-to-earnings ratio of 12.10 and a beta of 1.10. The business has a fifty day simple moving average of $23.74 and a 200 day simple moving average of $25.42.

Insider Buying and Selling

In related news, CFO Adrienne Uleau sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $23.49, for a total transaction of $93,960.00. Following the completion of the sale, the chief financial officer directly owned 6,574 shares of the company’s stock, valued at approximately $154,423.26. This represents a 37.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James H. Dahl purchased 3,075 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $25.58 per share, for a total transaction of $78,658.50. Following the purchase, the insider owned 501,708 shares of the company’s stock, valued at approximately $12,833,690.64. This represents a 0.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 37.40% of the stock is currently owned by corporate insiders.

Institutional Trading of AMREP

Several hedge funds and other institutional investors have recently modified their holdings of the company. Robotti Robert lifted its holdings in shares of AMREP by 0.8% in the fourth quarter. Robotti Robert now owns 521,765 shares of the business services provider’s stock valued at $9,809,000 after purchasing an additional 4,327 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $3,670,000 after acquiring an additional 527 shares in the last quarter. Cerity Partners LLC boosted its position in AMREP by 0.4% during the 4th quarter. Cerity Partners LLC now owns 169,022 shares of the business services provider’s stock worth $3,178,000 after acquiring an additional 665 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in AMREP during the 4th quarter worth approximately $1,222,000. Finally, Crossingbridge Advisors LLC grew its stake in shares of AMREP by 30.0% during the 4th quarter. Crossingbridge Advisors LLC now owns 65,000 shares of the business services provider’s stock worth $1,222,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 59.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of AMREP from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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.