StockNews.com Initiates Coverage on AMREP (NYSE:AXR)

Stock analysts at StockNews.com started coverage on shares of AMREP (NYSE:AXR – Get Rating) in a research report issued on Sunday. The firm set a “buy” rating on the business services provider’s stock.

AMREP Stock Up 0.1 %

Shares of NYSE:AXR opened at $11.96 on Friday. AMREP has a 12 month low of $9.88 and a 12 month high of $16.72. The company’s fifty day simple moving average is $11.60 and its 200 day simple moving average is $12.23. The firm has a market cap of $62.79 million, a price-to-earnings ratio of 4.65 and a beta of 0.94.

AMREP (NYSE:AXR – Get Rating) last issued its quarterly earnings data on Monday, December 12th. The business services provider reported $0.68 EPS for the quarter. AMREP had a net margin of 26.03% and a return on equity of 18.63%. The business had revenue of $16.15 million for the quarter.

Institutional Investors Weigh In On AMREP

A hedge fund recently raised its stake in AMREP stock. Vanguard Group Inc. boosted its holdings in AMREP Co. (NYSE:AXR – Get Rating) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,387 shares of the business services provider’s stock after purchasing an additional 25,857 shares during the period. Vanguard Group Inc. owned about 3.32% of AMREP worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission. 26.42% of the stock is currently owned by institutional investors and hedge funds.

About AMREP

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AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. The company sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. As of July 1, 2022, it owned approximately 17,000 acres in Sandoval County, New Mexico.