AMREP (NYSE:AXR – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
AMREP Stock Performance
Shares of AXR stock opened at $19.21 on Thursday. AMREP has a 1 year low of $10.26 and a 1 year high of $19.97. The stock has a market cap of $100.85 million, a PE ratio of 3.45 and a beta of 1.01. The business’s fifty day moving average is $16.54 and its 200-day moving average is $14.49.
Institutional Investors Weigh In On AMREP
Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of AMREP by 11.1% during the 3rd quarter. Royal Bank of Canada now owns 9,000 shares of the business services provider’s stock worth $102,000 after acquiring an additional 900 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of AMREP in the first quarter worth $1,655,000. Renaissance Technologies LLC boosted its position in shares of AMREP by 3.5% in the first quarter. Renaissance Technologies LLC now owns 119,800 shares of the business services provider’s stock worth $1,676,000 after buying an additional 4,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of AMREP by 17.4% in the third quarter. Vanguard Group Inc. now owns 174,387 shares of the business services provider’s stock worth $1,967,000 after buying an additional 25,857 shares during the period. 29.72% of the stock is owned by 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. 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.
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