AMREP (NYSE:AXR) Upgraded at Wall Street Zen
Wall Street Zen upgraded AMREP (NYSE:AXR) from a "hold" to a "buy" rating. The stock opened at $24.66, with a 52-week range of $17.60 to $39.67. AMREP reported $0.87 earnings per share for the last quarter, with revenue of $17.85 million. Hedge funds have increased their stakes in AMREP, which operates in real estate through land development and homebuilding. 59.85% of the stock is owned by institutional investors.
AMREP (NYSE:AXR - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Monday.
AMREP Trading Up 0.1%
AMREP stock opened at $24.66 on Monday. AMREP has a 52 week low of $17.60 and a 52 week high of $39.67. The firm has a market capitalization of $130.92 million, a P/E ratio of 9.94 and a beta of 1.15. The stock has a fifty day moving average price of $22.92 and a 200 day moving average price of $22.04.
AMREP (NYSE:AXR - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The business services provider reported $0.87 earnings per share for the quarter. AMREP had a return on equity of 10.35% and a net margin of 27.54%.The firm had revenue of $17.85 million during the quarter.
Institutional Investors Weigh In On AMREP
Hedge funds have recently bought and sold shares of the business. Gate City Capital Management LLC lifted its stake 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 valued at $2,168,000 after purchasing an additional 75,661 shares during the last quarter. Crossingbridge Advisors LLC increased its stake in shares of AMREP by 17.6% in the second quarter. Crossingbridge Advisors LLC now owns 50,000 shares of the business services provider's stock valued at $1,046,000 after buying an additional 7,500 shares in the last quarter. Truffle Hound Capital LLC raised its holdings in AMREP by 129.0% during the 2nd quarter. Truffle Hound Capital LLC now owns 114,524 shares of the business services provider's stock worth $2,397,000 after purchasing an additional 64,524 shares during the last quarter. Geode Capital Management LLC increased its holdings in AMREP by 1.7% in the second quarter. Geode Capital Management LLC now owns 33,566 shares of the business services provider's stock valued at $703,000 after purchasing an additional 574 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of AMREP by 42.1% in the 2nd quarter. Ritholtz Wealth Management now owns 17,375 shares of the business services provider's stock valued at $364,000 after buying an additional 5,144 shares in the last quarter. 59.85% of the stock is owned by hedge funds and other institutional investors.
AMREP Company Profile
(Get Free Report)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.
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