AMREP (NYSE:AXR) Rating Lowered to “Hold” at Freedom Capital

AMREP (NYSE:AXR) was downgraded by Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AMREP in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, AMREP currently has an average rating of “Hold”.

AMREP Stock Performance

Shares of AXR opened at $27.41 on Tuesday. AMREP has a twelve month low of $17.60 and a twelve month high of $29.00. The firm’s 50 day moving average price is $25.27 and its two-hundred day moving average price is $22.93. The firm has a market cap of $145.53 million, a P/E ratio of 11.42 and a beta of 1.23.

AMREP (NYSE:AXR) last announced its quarterly earnings results on Thursday, March 12th. The business services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. AMREP had a net margin of 24.40% and a return on equity of 9.58%. The firm had revenue of $14.57 million for the quarter, compared to analyst estimates of $14.03 million.

Insider Activity at AMREP

In other AMREP news, major shareholder James H. Dahl acquired 2,060 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were acquired at an average price of $27.92 per share, with a total value of $57,515.20. Following the completion of the transaction, the insider directly owned 476,458 shares in the company, valued at $13,302,707.36. This trade represents a 0.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 29,742 shares of company stock valued at $731,280 over the last 90 days. Insiders own 37.20% of the company’s stock.

Institutional Trading of AMREP

Institutional investors have recently made changes to their positions in the business. NBC Securities Inc. lifted its position in shares of AMREP by 65.0% in the fourth quarter. NBC Securities Inc. now owns 1,650 shares of the business services provider’s stock worth $31,000 after purchasing an additional 650 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of AMREP in the first quarter worth $46,000. Barclays PLC lifted its position in shares of AMREP by 781.7% in the fourth quarter. Barclays PLC now owns 2,795 shares of the business services provider’s stock worth $53,000 after purchasing an additional 2,478 shares in the last quarter. Jane Street Group LLC lifted its position in shares of AMREP by 42.1% in the first quarter. Jane Street Group LLC now owns 10,394 shares of the business services provider’s stock worth $208,000 after purchasing an additional 3,077 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of AMREP in the third quarter worth $453,000. Institutional investors own 59.85% of the company’s stock.

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.