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AMREP Corporation - AXR STOCK NEWS

Welcome to our dedicated page for AMREP Corporation news (Ticker: AXR), a resource for investors and traders seeking the latest updates and insights on AMREP Corporation stock.

AMREP Corporation (symbol: AXR) is a dynamic player in the real estate industry, with a broad scope of activities encompassing land sales, leasing, and property investments. Headquartered in the United States, AMREP operates through two primary segments: Land Development and Homebuilding, generating the majority of its revenue from its land development efforts. The company engages in the acquisition, development, and sale of both developed and undeveloped lots to homebuilders, commercial users, and other entities.

AMREP has built a strong reputation for securing necessary approvals and developing high-quality properties that meet the stringent guidelines of its diverse clientele, including Fortune 500 companies. Beyond land development, the company's investments in commercial and investment properties further solidify its market position and drive its financial growth.

Kable Fulfillment, a subsidiary of AMREP, enhances the parent company's service offerings by providing superior quality, flexible, and cost-efficient fulfillment and marketing program solutions. Headquartered in Fairfield, Ohio, Kable has established long-standing relationships with clients of all sizes, delivering state-of-the-art fulfillment services and a variety of co-packaging solutions. These include automated shrink tunnels, overwrapping, skin packaging, and blister packaging, supported by 12 flexible assembly lines that cater to varying production demands.

The company's commitment to integrated, client-focused approaches is reflected in its continuous efforts to meet and exceed customer expectations. Recent achievements highlight the company's strategic partnerships and ongoing projects, positioning AMREP as a significant contributor to the real estate and fulfillment sectors.

AMREP Corporation's strategic approach, combined with its diversified service offerings, underscores its importance in the industry and its potential for future growth. Investors and stakeholders can rely on AMREP for consistent performance and innovative solutions that align with market demands.

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AMREP (NYSE:AXR) reported strong financial results for its 2025 fiscal first quarter ended July 31, 2024. The company's net income surged to $4,064,000, or $0.76 per diluted share, compared to $1,346,000, or $0.25 per diluted share, in the same period last year. Revenues nearly doubled to $19,091,000 from $10,289,000 year-over-year.

As a major landholder and leading real estate developer in New Mexico, AMREP's performance can vary significantly between periods due to factors such as transaction timing and the type and location of properties sold. The company filed its Form 10-Q with the SEC, providing more detailed financial information.

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AMREP (NYSE:AXR) reported net income of $6,690,000, or $1.25 per diluted share, for fiscal year 2024 ended April 30, 2024. This compares to net income of $21,790,000, or $4.11 per diluted share, for the previous year. Revenues increased to $51,369,000 in fiscal 2024 from $48,676,000 in fiscal 2023.

The 2024 results included $7,200,000 revenue from a property sale in Brighton, Colorado. The 2023 results had included a non-cash income tax benefit of $16,071,000 and a non-cash pre-tax pension settlement expense of $7,597,000. AMREP, through its subsidiaries, is a major landholder and real estate developer in New Mexico.

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AMREP Corporation (AXR) reported a significant decrease in net income for the 2024 fiscal third quarter compared to the prior year. Revenues also declined for the same period. The company recognized non-cash expenses in 2023 affecting the comparison.
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AMREP Corporation (AXR) reports a decrease in net income and revenues for the 2024 fiscal second quarter and first six months compared to the same period of the prior year. Net income for the second quarter was $1,108,000, or $0.21 per diluted share, compared to $3,621,000, or $0.68 per diluted share, for the same period in 2023. Revenues for the second quarter were $8,854,000 compared to $16,149,000 in 2023. For the first six months of 2024, net income was $2,454,000, or $0.46 per diluted share, compared to $5,533,000, or $1.04 per diluted share, in 2023. Revenues for the first six months of 2024 were $19,143,000 compared to $26,856,000 in 2023.
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AMREP Corporation reports net income of $1,346,000 for Q1 2024, down from $1,912,000 in Q1 2023. Revenues were $10,289,000 for Q1 2024, slightly lower than $10,707,000 in Q1 2023.
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AMREP Corporation (NYSE:AXR) reported a net income of $21,790,000 for fiscal year 2023, compared to $15,862,000 in 2022, with revenues at $48,676,000 and $58,926,000 respectively. The results for 2023 included a non-cash income tax benefit of $14,149,000 and a non-cash pre-tax pension settlement expense of $7,597,000. The 2022 results included revenue from land and building sales.
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AMREP Corporation (NYSE:AXR) reported a significant increase in net income for the 2023 fiscal third quarter, achieving $16,574,000 or $3.12 per diluted share, compared to $910,000 or $0.12 per diluted share the previous year. For the first nine months of 2023, net income reached $22,107,000 or $4.17 per diluted share, up from $5,873,000 or $0.80 per diluted share in 2022. Revenues were $9,117,000 for Q3 and $35,975,000 for the first nine months, showing slight growth over the previous year. Notably, the company recognized a $2,336,000 pension settlement expense and a tax benefit of $16,071,000.

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AMREP Corporation (NYSE:AXR) reported a strong performance for the fiscal second quarter ended October 31, 2022, with a net income of $3,621,000 ($0.68 per diluted share), up from $3,326,000 ($0.45 per diluted share) in the prior year. For the first six months, net income rose to $5,533,000 ($1.04 per diluted share) compared to $4,963,000 ($0.67 per diluted share) in 2022. Revenues also showed growth, totaling $16,149,000 and $26,856,000 for the second quarter and six-month periods, respectively, versus $16,112,000 and $26,098,000 last year.

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AMREP Corporation (AXR) reported a net income of $1,912,000, or $0.36 per diluted share, for its first fiscal quarter ended July 31, 2022, compared to $1,637,000, or $0.22, in the same period last year. Revenues increased to $11,232,000 from $10,507,000 year-over-year. The company maintains a strong position as a significant landholder and real estate developer in New Mexico, with financial details further available in their Form 10-Q.

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AMREP Corporation (AXR) reported a significant increase in net income for the fiscal year ending April 30, 2022, totaling $15.86 million or $2.21 per diluted share, compared to $7.39 million or $0.95 per diluted share in the prior year. Revenues soared to $62.48 million, up from $40.07 million. Key contributors included $7.11 million from land sales and $8.44 million from building sales in multiple locations. The company's strong performance reflects its strategic real estate holdings and development activities in New Mexico.

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FAQ

What is the current stock price of AMREP Corporation (AXR)?

The current stock price of AMREP Corporation (AXR) is $31.019 as of November 1, 2024.

What is the market cap of AMREP Corporation (AXR)?

The market cap of AMREP Corporation (AXR) is approximately 163.4M.

What does AMREP Corporation do?

AMREP Corporation is engaged in the real estate business, focusing on land sales, leasing, and investments in commercial and investment properties.

What are the main segments of AMREP Corporation?

The main segments of AMREP Corporation are Land Development and Homebuilding.

Where is AMREP Corporation headquartered?

AMREP Corporation is headquartered in the United States.

What subsidiary does AMREP Corporation have?

AMREP Corporation has a subsidiary called Kable Fulfillment, which offers fulfillment and marketing program solutions.

What services does Kable Fulfillment provide?

Kable Fulfillment provides superior quality fulfillment services, flexible co-packaging solutions, and various assembly technologies such as automated shrink tunnels, overwrapping, skin packaging, and blister packaging.

Who are AMREP Corporation's clients?

AMREP Corporation serves a diverse clientele, including homebuilders, commercial users, and Fortune 500 companies.

How does AMREP Corporation generate most of its revenue?

AMREP Corporation generates most of its revenue from its Land Development segment.

What is the primary geographic market for AMREP Corporation's activities?

All of AMREP Corporation's activities are carried out in the United States.

What recent achievements has AMREP Corporation made?

Recent achievements of AMREP Corporation include strategic partnerships and ongoing projects that enhance its market position in the real estate and fulfillment sectors.

How does AMREP Corporation view its client relationships?

AMREP Corporation values the trust its customers place in its team and capabilities and views its clients' success as its own success.

AMREP Corporation

NYSE:AXR

AXR Rankings

AXR Stock Data

163.36M
5.27M
44.9%
38.08%
0.43%
Real Estate - Development
Land Subdividers & Developers (no Cemeteries)
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United States of America
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