AMREP (NYSE:AXR) Downgraded to Hold Rating by StockNews.com

AMREP (NYSE:AXR) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

AMREP Price Performance

AXR stock opened at $36.18 on Thursday. The stock has a market capitalization of $191.39 million, a PE ratio of 20.69 and a beta of 0.92. The company has a 50 day moving average price of $32.60 and a 200 day moving average price of $25.90. AMREP has a fifty-two week low of $15.88 and a fifty-two week high of $39.67.

AMREP (NYSE:AXR) last announced its quarterly earnings data on Friday, December 13th. The business services provider reported $0.75 earnings per share for the quarter. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

Insider Activity

In other news, major shareholder James H. Dahl acquired 1,800 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was purchased at an average price of $29.95 per share, for a total transaction of $53,910.00. Following the completion of the acquisition, the insider now owns 434,574 shares in the company, valued at $13,015,491.30. This trade represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 6,800 shares of company stock valued at $205,560 in the last 90 days. 37.60% of the stock is owned by company insiders.

Institutional Trading of AMREP

Several hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC lifted its stake in AMREP by 137.2% in the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after buying an additional 155,755 shares in the last quarter. State Street Corp acquired a new stake in shares of AMREP during the third quarter worth $216,000. Renaissance Technologies LLC lifted its position in AMREP by 2.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after acquiring an additional 2,514 shares in the last quarter. Empowered Funds LLC boosted its stake in AMREP by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after purchasing an additional 2,144 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after purchasing an additional 1,589 shares during the period. Institutional investors and hedge funds own 59.85% of the company’s stock.

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.