AMREP (NYSE:AXR) Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of AMREP (NYSE:AXR) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

AMREP Stock Performance

Shares of NYSE AXR opened at $24.38 on Monday. AMREP has a fifty-two week low of $17.60 and a fifty-two week high of $39.67. The stock has a market cap of $129.44 million, a PE ratio of 9.83 and a beta of 1.15. The stock has a fifty day moving average of $22.97 and a 200-day moving average of $22.06.

AMREP (NYSE:AXR) last issued its quarterly earnings data on Tuesday, September 9th. The business services provider reported $0.87 earnings per share (EPS) for the quarter. The business had revenue of $17.85 million for the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.

Institutional Trading of AMREP

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in AMREP in the 4th quarter valued at $230,000. Millennium Management LLC raised its position in shares of AMREP by 94.7% in the fourth quarter. Millennium Management LLC now owns 19,261 shares of the business services provider’s stock worth $605,000 after buying an additional 9,366 shares in the last quarter. Cerity Partners LLC boosted its stake in AMREP by 8.1% during the first quarter. Cerity Partners LLC now owns 171,124 shares of the business services provider’s stock valued at $3,431,000 after buying an additional 12,767 shares during the period. Koss Olinger Consulting LLC purchased a new position in AMREP during the first quarter worth about $434,000. Finally, Robotti Robert grew its position in AMREP by 4.6% during the first quarter. Robotti Robert now owns 524,407 shares of the business services provider’s stock worth $10,514,000 after buying an additional 22,990 shares in the last quarter. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

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.