AMREP (NYSE:AXR) Releases Quarterly Earnings Results

AMREP (NYSE:AXR) posted its earnings results on Friday. The business services provider reported $0.13 earnings per share (EPS) for the quarter, Zacks reports. AMREP had a return on equity of 10.31% and a net margin of 19.52%. The firm had revenue of $7.52 million for the quarter.

AMREP Stock Performance

AXR stock opened at $23.05 on Friday. AMREP has a 1 year low of $15.88 and a 1 year high of $39.68. The stock’s 50 day moving average price is $29.13 and its 200 day moving average price is $29.65. The firm has a market cap of $121.87 million, a P/E ratio of 10.02 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

Insider Activity at AMREP

In other AMREP news, Director Robert Robotti sold 13,000 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $31.56, for a total transaction of $410,280.00. Following the transaction, the director now owns 296,594 shares of the company’s stock, valued at $9,360,506.64. This represents a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 37.60% of the stock is owned by corporate insiders.

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.