AMREP (NYSE:AXR) Issues Earnings Results

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

AMREP Trading Up 2.0 %

Shares of AMREP stock traded up $0.72 during mid-day trading on Friday, reaching $36.42. 42,154 shares of the stock were exchanged, compared to its average volume of 15,087. AMREP has a fifty-two week low of $15.88 and a fifty-two week high of $39.67. The company has a market cap of $192.66 million, a price-to-earnings ratio of 20.69 and a beta of 0.92. The firm has a 50-day simple moving average of $32.60 and a 200 day simple moving average of $25.90.

Insider Buying and Selling at AMREP

In other AMREP news, major shareholder James H. Dahl acquired 1,800 shares of AMREP stock in a transaction on Friday, October 4th. The shares were bought at an average price of $29.95 per share, with a total value of $53,910.00. Following the completion of the purchase, the insider now owns 434,574 shares in the company, valued at $13,015,491.30. This trade represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 6,800 shares of company stock worth $205,560 over the last ninety days. Corporate insiders own 37.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered AMREP from a “buy” rating to a “hold” rating in a research note on Thursday.

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.