AMREP (NYSE:AXR) Posts Earnings Results

AMREP (NYSE:AXR) announced its earnings results on Friday. The business services provider reported $0.75 EPS for the quarter, Zacks reports. AMREP had a net margin of 15.64% and a return on equity of 8.05%.

AMREP Trading Up 2.0 %

AMREP stock traded up $0.72 during trading hours on Friday, reaching $36.42. 42,154 shares of the stock were exchanged, compared to its average volume of 15,087. The stock has a 50 day moving average of $32.60 and a two-hundred day moving average of $25.90. The company has a market cap of $192.66 million, a P/E ratio of 20.69 and a beta of 0.92. AMREP has a twelve month low of $15.88 and a twelve month high of $39.67.

Wall Street Analyst Weigh In

Separately, StockNews.com cut AMREP from a “buy” rating to a “hold” rating in a report on Thursday.

Insider Transactions at AMREP

In related news, major shareholder James H. Dahl purchased 2,000 shares of AMREP stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $29.70 per share, for a total transaction of $59,400.00. Following the purchase, the insider now owns 432,774 shares in the company, valued at approximately $12,853,387.80. This trade represents a 0.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 6,800 shares of company stock valued at $205,560. Company insiders own 37.60% of the company’s stock.

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.