State Street Corp Acquires New Holdings in AMREP Co. (NYSE:AXR)

State Street Corp bought a new position in shares of AMREP Co. (NYSE:AXR) during the third quarter, Holdings Channel reports. The fund bought 7,280 shares of the business services provider’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of AMREP in the third quarter worth $29,000. Empowered Funds LLC lifted its holdings in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the period. Renaissance Technologies LLC lifted its holdings in AMREP by 2.1% during the 2nd quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock worth $2,336,000 after buying an additional 2,514 shares during the period. Finally, Cerity Partners LLC grew its position in shares of AMREP by 137.2% in the 3rd 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 during the last quarter. 59.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AMREP

In other news, Director Robert Robotti sold 13,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the sale, the director now directly owns 296,594 shares in the company, valued at $9,360,506.64. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 37.60% of the company’s stock.

AMREP Stock Down 0.4 %

Shares of NYSE AXR opened at $30.91 on Friday. The company has a market capitalization of $163.42 million, a PE ratio of 17.56 and a beta of 0.92. The firm has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $27.14. AMREP Co. has a twelve month low of $15.88 and a twelve month 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 (EPS) for the quarter. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

Analyst Ratings Changes

Separately, StockNews.com lowered AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

AMREP Profile

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.