AMREP (NYSE:AXR) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

AMREP Corporation (NYSE:AXR) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.11 and traded as low as $21.50. AMREP shares last traded at $21.6750, with a volume of 8,264 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AXR. Weiss Ratings reissued a “hold (c)” rating on shares of AMREP in a research report on Monday, December 29th. Wall Street Zen upgraded AMREP from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

AMREP Stock Performance

The firm has a market capitalization of $115.09 million, a PE ratio of 11.12 and a beta of 1.45. The business’s fifty day simple moving average is $20.39 and its 200-day simple moving average is $22.11.

AMREP (NYSE:AXR) last issued its quarterly earnings data on Friday, December 12th. The business services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.22). The firm had revenue of $9.40 million for the quarter, compared to analysts’ expectations of $14.97 million. AMREP had a net margin of 22.86% and a return on equity of 7.98%.

Institutional Investors Weigh In On AMREP

Several large investors have recently added to or reduced their stakes in AXR. Truffle Hound Capital LLC raised its stake in shares of AMREP by 31.0% in the third quarter. Truffle Hound Capital LLC now owns 150,000 shares of the business services provider’s stock valued at $3,588,000 after acquiring an additional 35,476 shares during the period. Gate City Capital Management LLC lifted its holdings in shares of AMREP by 271.0% in the 2nd quarter. Gate City Capital Management LLC now owns 103,583 shares of the business services provider’s stock worth $2,168,000 after buying an additional 75,661 shares during the period. Mink Brook Asset Management LLC bought a new position in AMREP during the 3rd quarter worth about $1,196,000. Crossingbridge Advisors LLC boosted its stake in shares of AMREP by 17.6% during the second quarter. Crossingbridge Advisors LLC now owns 50,000 shares of the business services provider’s stock valued at $1,046,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of AMREP by 7.4% in the 1st quarter. Empowered Funds LLC now owns 48,281 shares of the business services provider’s stock valued at $968,000 after acquiring an additional 3,344 shares during the period. 59.85% of the stock is owned by institutional investors.

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.